Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
When you want to refinance your car loan after a Chapter 13 bankruptcy, there are some steps to take in order to increase your chances of approval. If your existing lender will not approve you, check with other lenders until you find one willing to grant your request.
What You Will Need
Here are some things a lender may need to qualify you for a loan:
- Balance on the car
- Household income
- Monthly debt payments
- Copy of the bankruptcy discharge
- Reasons for the bankruptcy
Step 1 - Call Your Existing Lender
Ask for a 10 day payoff on the loan, to leave room for delays in the new loan closing.
Step 2 - Gather Your Information
Figure your income and debt payments, make a copy of the bankruptcy discharge, and write down your reasons for filing.
Step 3 - Contact Other Lenders
Present the lenders with your documentation. If you receive multiple approvals, choose which lender you prefer. If conditions are required to be met by, such as a down payment on the loan, comply with the lender’s request or shop around until you find a lender willing to work with you.
- How to Get Approved for an FHA Loan despite Bad Credit
- What To Do When Mortgages Default
- Short Selling a Rental Property
- 3 Factors that Can Negatively Affect Your Mortgage Application
- Low Down Payment Loan Qualification
- Appraisal Basics
- Second Mortgages: Advantages and Disadvantages
- 3 Common Short Sale Mistakes
- 3 Warning Signs of Loan Modification Scams