I am 33 years old, married and have one child. I am retired from the U.S. Army and rated 100% disabled by the VA. I bring home $5,000 a month. I filed Chapter 13 and paid off and got my discharge almost a year ago. I checked credit score and was 520 to 580, but I need a vehicle loan for $10,000. Is there anywhere I can turn for this?
After bankruptcy car loan needed for disabled veteran with 520-580 credit score. Where should I Iook?
First, I would like to take a moment and thank you for your military service!
Rebuilding credit can be a difficult and long process, but you can do it. I would start by obtaining your free credit report from www.annualcreditreport.com to ensure that your report is showing accurate information.
Consider reaching out to your local bank or credit union to see what it would take to qualify for a loan. You may need a co-signer or potentially qualify but at a higher interest rate. Try to avoid the “buy here - pay here” type dealerships as their interest can be very high. I have also found a resource for veterans that provide practical financial solutions. It is www.veteransplus.org (888-488-8767).
I hope this information will help you achieve your financial goal!
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