I'm currently searching for an auto loan and recently obtained all 3 of my credit reports. My question is this: 2 of the CRs have 3 derogs on them that Equifax doesn't report therefore, I have excellent credit on that CR. When we obtained a mortgage 4 years ago, we had a broker that searched to find which lender used the CR that had the least amount of derogs which in turn got us a great rate. Does anyone know of any lenders that only use Equifax, or how I can obtain that info? My 2nd question is: I have an unpaid medical collection from 6 years ago (about $300) which is scheduled to drop off next year. Would it be worth paying it off? or do you think it would affect my obtaining credit so adversely that I should negotiate to pay and taken off my CR? I have tons of good credit (ie mortage, department store & major credit cards never late) 3rd question: if I'm searching for a car loan, is it true that all the inquiries will be dropped off in a 30 day period only leaving the one I choose to go with as an inquiry? Thanks for any info you all can give me. Linda
1) Ford Credit uses Equifax only. 2) I would not pay this collection. It will not increase your score if you do. If the lender askes about it, tell them that you are disputing it. This should be no problem with a auto loan, but with a mortgage loan it would need to be paid. 3)All of the auto inquiries within a 15 day period will count as 1 inquiry.
