This is slightly complicated so bear with me here. I am in Chapter 7 bankruptcy (BK), which is scheduled to discharge in less than a month. I wanted to refinance while in BK to avoid having the BK court approve the refinance agreement, which a) they do not want to do and b) which would have required that I make another court appearance. California BK courts do not like reaffirmation agreements with existing lenders due to the fact that these types of agreements are not fair to the consumer. In fact, reaffirmation agreements are not really necessary but they have been such a problem that the BK court appoints an additional attorney free of charge to the consumer.
With that said, I was very clear and informed Roadloans.com that I was in Chapter 7 bankruptcy. I was never asked any specific questions about my bankruptcy and I was "approved" immediately. However, the paperwork recognized that BK and indicated that I would need trustee approval, which was not going to be a problem, although not truly or legally necessary.
Some 10 days later, Roadloans.com called to inform me that they couldn't process the loan until after the BK (it happened to be the day after the scheduled hearing, which I did not show up for). Thanks for the incompetence Roadloans.com The excuse was made to me that chapter 7's are treated differently than 13's are. That's nice to know after the fact, even though this is, of course, complete non-sense. If they knew the law (if their attorneys actually checked with a BK attorney), they would know it is virtually impossible to make a claim of any kind post the date a BK is filed. For example, my electric bill: I filed on the 3rd and I didn't have to pay for electric for any electric bill owed prior to that date. Everything after the 3rd, can not be included and I am explicitly responsible for .
The courts are fair and if I signed an agreement post BK filing (as it was with Roadloans.com, they would not allow it to be included in the BK retroactively. Even amendments to a BK 7, must pertain to matters that exist prior to the date of filing. The courts are not just pro-consumer in this sense, they are also pro business and strive to be fair and balanced between the two.
Anyway, I am extremely disappointed in Roadloans.com. The employees, in their fervor and greed to "sign a new deal" they screwed me. Had I known, I would have had 2 weeks to find another solution to my problem. Avoid them - they are incompetent.