What if you have a Bankruptcy on your credit report?
Having a bankruptcy on your credit report will have you automatically labeled as a bad credit car loan risk by most lenders. However, Vin Busters Financing understands that bankruptcy is often a new beginning and a car loan can be the first step in rebuilding bad credit. Vin Busters Financing has a nearly 100% approval rate for bankrupt individuals, even if they have yet to be discharged.
“Financial Freedom” is a concept that very few Canadians have been able to declare with confidence, but “Bankruptcy” is a term many of them know all too well. Bills keep on filling up the mailbox, collection agency calls increase and the items that you require for everyday living are no longer affordable. Over the past decade, thousands of Canadians have chosen to file for bankruptcy in hopes to decrease their required debt payments. In 2013, 22,731 Ontario residents filed for bankruptcy according to the Office of the Superintendent of Bankruptcy Canada. Unfortunately, along with completing the bankruptcy process and making monthly payments, many people believe that due to their unstable financial history, they are no longer qualified to own a car. Thankfully this is not the case. Vin Busters Financing is giving Canadians the ability to own a car without worry.
Bankruptcy is a process that can affect your future purchases and a company’s trust in you, whether it is purchasing a home, renting an apartment or applying for a car loan. Bankruptcy is a process that no one wants to go through, but it can allow you to eliminate some of the debts that you are just unable to pay. Filing for bankruptcy involves meeting with a trustee who will assess your financial situation, assigning all assets to your trustee, and speaking with the Office of the Superintendent of Bankruptcy Canada. What many do not realize is that the process does not have to end there! By working with a Vin Busters Financing Professional, you will be working together to find a car that fits all of your needs in an easy and timely manner. Meeting with a Vin Busters Financing Professional is the perfect starting point to begin the exciting process of buying a vehicle and rebuilding your credit! Don’t let your financial situation hold you back from the freedom and ease of mind that a car can give you.
Working closely with a Vin Busters Financing Professional, they will:
- Ensure that your credit report is in order
- Determine a monthly payment plan that you know you can afford
- Speak with lenders on your behalf that specialize in bankruptcy car loans to get you the best rate possible
Bankruptcy is a part of life that many people have learned to embrace, but it does not mean that you have to settle for public transit. Vin Busters Financing is an excellent resource that can show you how to proceed if you have filed for bankruptcy and are hoping to own a car. Furthermore, Vin Busters Financing has several programs that are in place to help you rebuild your credit and regain confidence in your financial situation. Bankruptcy does not last for your entire life, so don’t let it affect your future.