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When you become bankrupt you will be aware of the problems you will face but often there are times when you need a bit of help and understanding and someone to have a bit of faith in you. Just because you have defaulted in the past, it does not mean you will do so again. If you have problems with your car and need a new one, we will have that faith in you and start you off with a new chance to redeem your credit history.
Once you have come to the end of your bankruptcy period we will lend you money. This is going to be a great way to start to rebuild what will be a fragile credit rating. For Budget Auto Finance to see you at your best, you will be advised to be fully aware of your credit rating and close any accounts that are preventing your score from rising.
We will not let your bankruptcy stop you from getting back on the road and we will not put unnecessary conditions on the loan agreement. You won’t be asked to explain yourself and let us know how you got to be bankrupt – you are where you are and we will help you move forward.
At Budget Auto Finance, we understand that because we are all individuals you will need to have your circumstances taken into account and to this end we will calculate a repayment plan that suites you. Once we have looked at your application we will let you know what your monthly repayments will be.
Due to your credit rating the interest rate you pay is going to be higher than if you were borrowing before you went bankrupt, but we will make sure that your repayments do not get you back into difficulties. If you need to spread your loan over a longer period of time that will not be a problem as we have some car loans that can be repaid over 5 years. Special attention will be paid to any extenuating circumstances surrounding your bankruptcy and this may get you a better rate than you would have normally been offered, although all offers are as low as we can possibly make them.
We will make sure we will provide the best offer for you. If you are able to enter into an agreement that you can easily manage, it won’t be long before you have improved your credit rating so the next offer you have could well be at a lower interest rate. That however is all in the future and the most important thing is that you can get a loan and buy the car you need.
Bankruptcy does not have to mean the end of car credit for good and when you are using a creditable company like us, you will soon be on the road to recovery.
