Atwood Rentals HVAC · 5/12/2022, 4:01:00 PM

How to Get Approved for an HVAC System After Bankruptcy

How to Get Approved for an HVAC System After Bankruptcy

Even after your debts are cleared, finding financing alternatives for a major purchase, like an HVAC system, can be an arduous process. So, the big question is, can you get approved for financing after bankruptcies?

The answer at Atwood is YES! We specialize in bad credit financing alternatives for homeowners who have been declined by other traditional HVAC finance companies. When you’re not sure where to turn, come to Atwood Rentals HVAC and apply now for your rent-to-own HVAC system.

Loans and Financing after Bankruptcy in a Nutshell

Obtaining loans or financing after bankruptcy are complicated processes, even if you’re just looking to install a new HVAC system. Filing for bankruptcy takes a large, long-lasting toll on your credit score and impacts it differently depending on which of the two types you filed:

The first type of bankruptcy is Chapter 13, AKA the wage earner’s plan. Instead of liquidating assets, individuals who have a regular income make a 3- to 5-year plan to repay all or part of their debts. With Chapter 13, bankruptcy stays on your credit report for seven years while circumventing other impacts.

The second type of bankruptcy is Chapter 7, or liquidation, where non-exempt property and assets are seized and sold to cover debts. Any remaining debt after the liquidating process is typically forgiven. However, under Chapter 7, bankruptcy takes a heavier toll on your credit report and remains on the report for up to 10 years.

Atwood Rentals HVAC works with those impacted by both Chapter 13 and Chapter 7 bankruptcy. We offer an alternative to traditional financing with our rent-to-own program. Keep reading to learn more.

Skip The Hassle with Rent to Own HVAC

Financing after Chapter 13 bankruptcy and financing after Chapter 7 bankruptcy are both long, difficult processes. In order to be approved for a loan to finance a new HVAC system, you often need to review your credit reports, take more intentional steps to build up your credit, collect necessary documentation for unsecured personal loan applications, and be able to verify any and all income sources. If rejected for a loan, other options include cosigning, applying for a secured loan or credit builder loan, or obtaining a secured credit card.

We encourage you to keep making steps to improve your credit score – but why deal with those other headaches in the meantime? Skip the hassle of the loan approval processes, and rent-to-own your HVAC system with Atwood.

Our program requires no credit check, so, the application process is easy, quick, and secure. Once approved, we’ll recommend an HVAC dealer in your area, and we also include removal of your old system, installation of the new one, and an equipment labor warranty in your plan.

Choose our HVAC bad credit financing alternative – apply here today!

What's the Difference Between HVAC Leasing and Rent-to-Own?

While leasing and rent-to-own are both great options for HVAC financing after bankruptcy, there is an important difference to note: For those not wanting to eventually buy HVAC systems, choose to lease. To purchase HVAC units, rent-to-own is the way to go.

For more information on how leasing and rent-to-own programs differ, check out this blog post.

How to Get Approved for a Rent to Own HVAC Program

If you’re looking to own a new HVAC system, bankruptcy is not the end. We make applying as seamless as possible: no credit check, no hidden fees, a fixed payment, and pay off early without penalty. When your application is received, we aim to get back to you within 15 minutes, and our expert associates will be there to guide and assist you every step of the way.

To get started, simply submit an application through our secure portal here or call 833-RTO-HVAC to learn more!

Don't Let Bankruptcy Get You Down! Apply for Rent-to-Own HVAC Today!

When you have bad credit, financing for your HVAC system seems near impossible. Remove the stress of financing after bankruptcy and choose rent-to-own instead with Atwood Rentals HVAC. Our associates will walk you through the entire process with priority service and no credit check.

It only takes 15-20 minutes to get approved! Apply for your rent-to-own HVAC unit today!