and most agencies will accept it. TIP: You can negotiate to pay a lesser amount on collections^
Sadly, if you want to try to get them to take any collection report off yourbureaus, get it in writing, or count on them never doing it once they’ve
gotten your money.
TAX LIENS
I’ve gotten people approved on car loans, even with current tax liens fromthe government, but seldom at prime rates. These customers have to put
substantial money down on the purchase, as much as 20 percent to 40percent of the loan amount.
BANKRUPTCIES AND FORECLOSURES
Neither bankruptcies nor foreclosures are the kiss of death they used to be,especially after the economic and housing crisis. But a bankruptcy must be
“discharged” before car loan being discharged and you never having to pay for the vehicle. any lender will extend your car credit, or they risk the
Expect higher, subprime rates until three or four years after a bankruptcy orforeclosure.
REPOSSESSION