Question: I'm in Jersey and filed chapter 13 18 months ago and on a repayment schedule. I have a leased vehicle from 2008 which matured yesturday. I have made every payment on time; actually paid it sooner than scheduled. I have never been late or missed my payment to the trustee for the chapter 13. I can't seem to get finacing for the leased vehicle which I have never been late on. Our family needs this vehicle . Is it possible to get financed or am I just waisting time and effort? Response: Unfortunately, your efforts may be futile. It would be next to impossible to find a lender to finance the vehicle for you while you are still in bankruptcy eventhough you have never been late on your payments. You are considered such a high credit risk that most reputable lenders would not extend financing to you despite you excellent payment history. Nevertheless, you may be able to get financing from less than reputable lenders/subprime lenders. However, the cost would be prohibitive. However, if you desperately need a car, you may look for these lenders online or ask your dealership to suggest one.
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