Car Finance And A Debt Agreement

You may be able to qualify for car finance if you have recently been discharged from a debt agreement. Potential borrowers, who are in an undischarged debt agreement, will not qualify for a car loan. While anyone in a debt agreement is also considered insolvent for credit purposes, it may be possible to qualify for car finance immediately upon discharge.

Just as with car loans after bankruptcy, lenders main concern will be to confirm that your financial position has improved since you entered a Debt Agreement.They will be looking for evidence of stable income, stable place of residence and no new incidences of bad credit.