My Chapter 7 Solution

frequently asked questions



What is reaffirmation?

When you reaffirm, you are paying for a debt that has been charged off already. Do not reaffirm before speaking to someone first. If you proceed with a reaffirmation, you are just helping the creditor pay off a debt that has been charged off in your Bankruptcy. Even if you made all your payments on time, the lender/creditor will not have to report as a positive credit history. This means you will not be given credit for paying your debt on time.


Should I reaffirm?

It is our opinion that you should not reaffirm if there is a better way. We offer that better way! Consult with your attorney and allow us the opportunity to show you all of your options.


Do I need a large amount of money down?

No, in most cases we can work out a low to no money down program for our clients.


What will I need to submit to My Chapter 7 Solution?

Completed Application
Picture of Driver Licence
2 most recent pay stubs
W-2 or End of the Year pay stub
Utility or water bill dated within the last 30 days
Minimum $1800 per month income * Ask about low income financing


If I keep my current vehicle can’t I just get a better car after my bankruptcy?

Yes, you can, however allowing us to help you now will put you in a better situation later. If you keep your car now you will not be building your credit. Also you will most likely be in a vehicle that may not last for the term of your bankruptcy.


What is my benefit in buying a car now versus waiting?

Right now we have programs that will allow you to a receive a lower interest rate than normal in most cases.


Will surrendering my current vehicle hurt my credit?

With a bankruptcy you are protected. It allows for you to surrender your current Car, Truck, or Suv with out it affecting your credit while it is included in your bankruptcy. This is a free pass. It allows us to help you in many cases get into a newer model year vehicle with less miles.


Won’t my payments go up?

In many cases our clients end up paying less than they currently would have had to pay monthly.


I am in a current Chapter 13, can you help me?

Yes we also have a great program for open/closed Chapter 13.


I am a resident of Virginia, what does that mean for me?

Virginia is a commonwealth, not a state. What this means for you is that there is no state government legislature mandating a limit on the interest that can be charged inside of the borders of Virginia. In North Carolina, we are limited which means a difference of at least 4-6% lower, just because of our location; this means MORE BUYING POWER!

Note* My Chapter 7 Solution is not intended to be a source of legal advice. You should not rely on the information provided herein as legal advice for any purpose.  You should consult an attorney for individual advice concerning your own situation. All approvals are subject to lender final approval guidelines. OAC standard 50% DTI Ratio may apply. 20% PTI Ratio may apply.

To remove your name from this list for future mailings send postcard or letter with complete name and address requesting your name be removed for future promotions.  Promotional materials are a matter of public information.  This solicitation is not responsible for any typographical errors and will not be held liable.  Vehicles are sold as a part of this program and should not be represented as new.  All rates and terms are subject to lender guidelines and approval..

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