Discharge your debts. Usually the personal bankruptcy can take as long as 6 months. It really depends on the court calendar and your specific case. When it’s all done, the Judge will issue you an order, declaring your debts have been discharged. With that order, you no longer have to pay any of your debts and your creditors can not come back to collect debts from you.

When you are ready with all the data related to the car, dealers/lenders will know that you are very serious about buying a car. This will have a favorable impact on your bad credit auto loan application. So, get the information related to car make and model, VIN, title, etc. If you are buying an used car, then keep in mind to have the Odometer Disclosure statement as well as Vehicle History Report with you.

It is a Non-Recourse Portfolio Loan – a loan with NO personal liability! A non-recourse loan is collateralized by your securities. If there is a default, the borrower keeps the loan proceeds and the lender only claims the collateral. The borrower’s liability is limited to the collateral pledged for the loan. In fact, the borrower has the right to walk away from the loan at any time.

These vehicles also have great warranties on them that will vary by the car dealership that offers them. Make sure you take the time to find out what is covered as well as for the length of time. Many of them also offer free roadside assistance. This is great if you end up with a flat tire, a vehicle that stalls, or you lock your keys in the vehicle.

Keep your credit report and SSN ready. NY lenders will require banking statements and recent utility bills. Also, recent pay stubs and employment verification Letter is necessary. Don’t inflate your income because lenders scrutinize every piece of information that you provide them.

Also, be clear of how you would want to make payments. Do you want to make monthly or bi-monthly payments or anything else suits you? Make sure of regular source of income as well.

Buying an used car becomes all the more important if you have poor credit history. Lenders often deny new car loan applications of poor credit auto buyers. But, as an used is cheaper, they don’t have much problem in offering poor credit used car loans.

In a manner of words, a payday loan is a short term loan that uses your paycheck as collateral for repayment. These ar normally drafted anywhere over a four to ten week status. They are used to solve short term problems and emergencies.