Update from Susan Faulkner regarding a postpetition vehicle financing option (not affiliated with the Trustee or the Court):
Effective 2/1/2023 the IAFCO, LLC auto loan program will become Meridian Bankruptcy Program (MBP). The program is fundamentally the same although some requirements have been updated. I have attached a copy of the program overview and the customer approval letter which you may save and print as needed. [Linked below]
Changes include:
I vehicle financed per bankruptcy case
Employment minimum 2 years with 6 months minimum at current employer (exceptions considered based on circumstances)
Income minimum is $2,500 gross per month unless employment is less than 2 years and then the minimum income is $3,500 gross per month (exceptions considered based on circumstances)
No more than 2 repoes in past 3 years
No previous loss to Meridian Buyers Group
The remaining requirements remain the same as in the previous program.
Please note that with the used vehicle prices extremely high and the inventory extremely low it may take a bit longer to find a suitable vehicle for each debtor. It is nearly impossible to find vehicles under $15,388.00 and even those vehicles may be the smaller, compact vehicles. Please speak with your clients about them having realistic expectations regarding their target vehicles and confirm that while MBP strives to find good, reliable vehicles we are not intending to provide their dream transportation. Unrealistic expectations result in wasted time for all and unhappy clients.
My Phone number and fax number will remain the same, and my new email is listed below.
Susan Faulkner
Susan@Meridianbuyersgroup.com 615) 360-6976 (615) 469-3023 fax
PS: Any questions or concern regarding IAF/IAFCO LLC cases should still be directed to me at susan@insolveautofunding.com or (615) 360-6976 as I will still handle those cases as well.
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