Getting a Car Loan while in a Part 9 Debt Agreement - Responsive Lending

Getting a Car Loan while in a Part 9 Debt Agreement

Q. I'm currently in a Part 9 (Part IX) Debt Agreement, can I get a car loan? 

A. Short answer is Yes, we can help customers in a Part 9 Debt Agreement. Keep reading below for further information.

Part IX debt agreements were introduced for consumers as an alternative to full bankruptcy. They gave the option for consumers to consolidate their unsecured debts. If you're currently in a Part IX, your options for borrowing are limited. 

Firstly - if you are considering going into a Part 9 Debt Agreement, we recommend that you get Individual Financial Advice from a consumer advocate such as a Financial Counsellor. Financial Counsellor's are a free service and can provide you with the different options before you go into a Part IX. Locate a local financial counsellor here.

Responsive Lending has the option of 3 lenders which we can use for customers who are in a Part IX. While their criteria differs, the common factors are below:

  • Need to be atleast 1 Year into your Part IX agreement
  • The payments to the Part IX must have been on time with no dishonours
  • ​No defaults since the Part IX has started
  • Good bank account conduct - no dishonours or regular overdraws

Lenders also value stability in residence and employment. The longer you have been at your current address and job, the better. 

If you're ready to apply, or have any questions, visit our Bad Credit Car Loans page

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    Nick

    When not tending to his three kids, Nick passionately advocates for customers within the consumer lending space.

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    Steve Edmiston - March 2, 2018 Reply

    Hi I’m in a part 9 debt agreement with no late payments. I am working full-time at a job I’ve had for 2 years and full time for 12 months there and am on good wages. Is it worth my time applying. Thanks

    Kaley Haris - April 3, 2018 Reply

    Incredible points. Outstanding arguments. Keep up the amazing spirit.

    Carmel - May 22, 2018 Reply

    Hi my name is Carmel I was wondering if I could get a car loan with bad credit

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