Wells Fargo Auto Finance Pulls Out of Canada
Author: Auto Source Financial
Wells Fargo Auto Finance
The Effect of the American financial crisis has now started to affect the Canadian Automotive Industry.
Wells Fargo Financial, headquartered in Des Moines, Iowa, is an billion company providing installment and home equity lending, automobile financing, consumer and private label credit cards, leasing, technology services, and receivables financing to consumers and businesses in 47 U.S. states, all 10 provinces of Canada, and the Caribbean.
An affiliate of Wells Fargo Financial, Wells Fargo Auto Finance a division of Wells Fargo Financial Retail Services Company Canada which has been offering non-prime financing programs to dealers across Canada since 1995 has pulled out of Canada
As of November 12th, 2008 Wells Fargo Auto Finance has made the difficult decision to exit the indirect lending channel in Canada. Wells Fargo continuously reviews its operations and makes changes when necessary to align with the current market environment.
New and used Auto Dealers across Canada were notified quietly the Effective as of noon Eastern time November 12th, Wells Fargo Auto Finance will no longer be accepting credit applications from Canadian auto dealers.
Article Source: http://www.articlesbase.com/banking-articles/wells-fargo-auto-finance-pulls-out-of-canada-698348.html
About the Author
Auto Source Financial is a Canadian Financial Firm that assits people with No credit or Bad Credit Obtain Vehicle Finanicng. We Specialize in New Immigrants and Foreign Student Vehicle Loans.
Student Loans and Bankruptcy?
So, I’m kinda screwed, aren’t I? Even to get loans to study in a different country? Because to study in a different country, I have to get loans from my country, and not the other country, right? (I’m thinking western europe)
I live in Canada, and I was discharged from my bankruptcy december 2005. At the time I filed, I had student loans, and they weren’t forgiven, of course. I think they are at about $8000 to $10,000. I have been told I cannot get student loans now for a few years, up to the standard scary *7* And of course, it would help if I planned on paying the ones I have
—> CANADA<—- I live here, not the US
That wasn’t meant to sound bit**y, I just don’t know if the student loan laws are different in our countries or not…
Is it worth it for me to pay off my student loans ? What will it benefit me.?
It seems more worthwhile to just throw in the towel. I am 36 and have only paid of a couple of thousand on the principle. If I declare bankruptcy it will be cash only and no credit cards or loans of seven years. It seems worth it. I have citizenship to an EU country to and can just move back there from Canada. Its hard to get the big dough jobs so I cant imagine myself carrying this debt into my 40′s. The thought of being dry for this many years is an impossible thought .
Canada- bankruptcy info please!?
I have about 10 thousand dollars of debt (not including my 18 thousand dollar student loan!) and became a single mom (totally not by choice!!) of 2 kids. I make about $1200 a month, plus $400 in government money. My rent is $900. Phone is $50. Groceries (including formula) is around $200. Daycare is about $500. Transportation is about $100. I am always into my overdraft, and have (I know this is horrible) taken out 2 high interest loans (one to buy a computer I needed for college), and one to consolidate bills that piled up.
Now, my question is- my ex is a co-signor on one of my loans ($5900 @ 29% interest). If I was to file for bankruptcy, would he be responsible for paying the loan? He put his vehicle as collateral, as well as his big screen TV. Would he lose the vehicle (he needs it for work so he can start to pay support!).
Also, can you give me info about how in debt you shoul dbe before considering bankruptcy? I’m totally in a hole, and need to pay off debt!
Also, I only make $1200 a month but that is pretty common where I live- no high paying jobs around here… and I also need to start repaying my student loan in a month, it’s $300 a month! I am working in the field I graduated college for, so at least it wasn’t money wasted.
I am frugal as possible- no fast food, no unnecessary travel, no expensive days out with the kids, I use cloth diapers I wash by hand and I always hang laundry to dry. I reuse what I can, always use up leftovers, don’t waste food, buy second hand furniture and clothing when possible and necessary, really watch my hydro useage, etc… we live rural so it’s a bit easier to save $– we also grow some of our own veggies and herbs…
How do I get my tax return money back now that I have a court order including my student loans bankruptcy?
After they took my $10,780 tax return (which I borrowed money to contribute to an RRSP to get), I went to court and got an order including my student loans in my bankruptcy. Now, I want my return back and I am willing to go to court myself to do it. I just need a little advice about which court and act to apply under. Those buggers lied when I repeatedly contacted them by phone about inclusion of my student loans in my bankruptcy, filed no response with my trustee and gave me my GST and return for several years until I was expecting this massive return. All this happened the same week that I lost my job. I will get my money back!!! How can they possibly support taking my money after repeatedly telling me over the phone that my loans were taken care of by my bankruptcy?? Can you help me figure out which court to appy to? I AM GOING TO RUN THEM AROUND THE BLOCK FOR AS LONG AS IT TAKES!! They will have to spend thousands on discoveries and disclosures and interlocutory applications, and then, if they still have my money, I will appeal and appeal and appeal. For starters though, I’m going to try discussing this matter with a manager and see where we go. Has anyone gone the legal route before? Have there been any successful outcomes when CRA staff failed to advise that loans were still owing when contacted by phone and CRA filed no reply with a bankruptcy trustee? PS – I live in Canada.
Can bankruptcy be placed on student loan?
If you claimed bankruptcy and your student loan is 11 years old I was told that it could be placed in it and it would be done. Now can a collection agency call and demand payment? This is in Ontairo Canada
It a hard call. In America on a Bankruptcy the loans are deferred, but, not forgiven as in your case. And, if you are in Default you can not qualify for more loans. BUTT, there always a Butt, if you not in Default and start back to school you can get loans. It just depends on many factors.
Now, here what I am leading up to. The world is working toward a one world economy (I not go into that) people should know by now. So, there only so many Banks that run the show. It could be a problem as these banks are interconnected. I would go and when you get there see what will happen. All I know to say, I just feel you may have trouble getting more loans of any kind with Defaulted/Lapsed Payment of Student Loans in the Background.
Check the site thoroughly. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.
http://bankruptcy-info.we.bs/
Hey Melanie: Before you rush to declare bankruptcy, I have a few options for you to consider. 1) you can go to http://www.pwcdebtsolutions.com for a free consultation
this is Pricewaterhousecoopers and they may be able to help you avoid the big B. You can also call toll free 1-888-792-3328. 2)Also you can check your local phonebook for a bankruptcy trustee(Look under Bankruptcy) most there will give you a free consultation . 3) You can check out http://www.TassandTech.com and start taking charge of your own future, These are the best programs and they will allow you to work from home if you prefer. Check them out. You could be making money starting today. Hope this helps.
Student loans, generally, are not dischargeable under any chapter of the Bankruptcy Code unless the borrower can show “substantial hardship.” A Bankruptcy can, however, eliminate other debts that are competing for your dollars and provide a measure of peace during a Chapter 13 plan. Further, in a Chapter 13, some courts permit the debtor to separately classify a student loan so that a greater percentage of disposable income goes to the student loan than non-secured debt. A student loan can be discharged or modified in a hardship proceeding. This is an adversary proceeding and requires the filing of a Complaint to Determine Dischargeability. A discharge will be granted if proved that repayment of the loan will create a substantial hardship on the debtor/borrower and his or her family. The hardship standard is generally interpreted to mean that the debtor cannot maintain a minimally adequate standard of living and repay the loan at the same time. Further, it also requires a showing that the conditions that make repayment a hardship are unlikely to improve substantially. Courts in some circuits will permit the judge to find that the debtor can repay a portion of the loan without hardship, and to discharge the balance of the loan.
Hope it helps!