Car Loans after Bankruptcy in Knoxville
While many credit issues are related to missed mortgage payments or credit card usage, one of the biggest factors affecting your finances is the debt accrued due to medical bills. Approximately 1.7 million people had to declare bankruptcy last year because of the medical debt they were unable to pay off.
Helpful Car Loans
Although the government may be trying to make this situation easier, other dealerships have been making it difficult to buy a car. At Farris Motor Company, we help our neighbors get financing for the vehicles they have always wanted to drive. With our Car Loans after Bankruptcy in Knoxville, you can ensure that your future is brighter than it looked yesterday.
Whether it is related to a medical procedure or not, any debt that goes on to a collection agency can potentially damage your credit score. Depending on where that number currently lies, this one item could even cause one hundred points to be deducted from your score. This may all sound grim, but this information will not stay on your credit report forever. After ten years, bankruptcies will be removed from the record.
Tips for Car Loans after Bankruptcy in Knoxville
In the meantime, however, there are actions you can take to improve your finances before hearing more about our Car Loans after Bankruptcy in Knoxville. As you prepare to buy a new or pre-owned car, requesting a copy of your credit report should always be the first step you take. This document will divulge the details surrounding your accounts and all of the factors that are affecting your score both positively and negatively. You may even be surprised to see that declaring bankruptcy has not affected your finances as terribly as you thought it might.
Throughout this process, remember to stay organized. As medical bills start coming in the mail, it would be beneficial for you to keep a tally on which physicians you have seen and what procedures you have gone through. This will help you sort through each bill and know for sure whether you need to dispute any claims. Once you feel prepared to own a car, fill out our online pre-approval form to begin the process. The form does not take long to fill out, and we can guarantee that you will be approved in no time. After you have been approved for financing, contact a member of our team in order to schedule a time for you to come in.
Call Farris Motor Company at 865-475-2071 to find out more about our Car Loans after Bankruptcy in Knoxville. Our showroom is located at 246 E. Broadway Blvd, Jefferson City, TN 37760. Stop by today and see all of the incredible deals we are now offering.
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