How can I get a car loan if I filed for bankruptcy?

I filed for Chapter 13 bankruptcy last year. Things have changed and I have now a job, but I need a car. Will I be approved for a loan at the same bank or is there a special institution for people that went bankrupt that need money?

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  1. You have to motion for court for a plan modification or loan approval. As part of the motion, you would “amend” schedule I for increased income and perhaps schedule J if your expenses have changed. Your attorney should have experience in this area and his/her fee usually can be paid in the plan so you do not have to come up with that money upfront. Bear in mind, that you may end up paying more to the chapter 13 trustee then you did before due to your new employment. The trustee is entitled to all your “disposable income” after all taxes, and reasonably and necessary living expenses. You need to call your attorney or another attorney that have bankruptcy experience.

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