Rina it is not about my inconvienece at all, it is about a four year old. And I have had the time to think about what I have done in the past with my credit. As I have said before it was done when I was a teenager an irresponsible teenager who didn't care about doing that. If you must know my whole life has changed in the past two year. I used to be what you would call a "hoodrat". My friends were scum bags, my child's father is a scum bag who is in jail, and I was with the best of them. Scamming what I could, collecting welfare, all that good stuff. In the past two years, I have moved out of the city, I do not talk to any of my friends, and I have in turn gotten full custody of my son. I currently hold a job as a financial analyst and go to school at night for my masters degree. Yes I messed up as a teenager and yes I changed my life. "Character - not just what you say you are today, but what have you shown yourself to be over a period of time?" Not in my books. I have done a complete 180. I have my stuff together. The only problem that I have left is my credit. And I believe that I have a right to fix it. I would never bounce a check again in my life. I would never mail a credit card payment in late again. I would never quit my job again for no reason. When people have children they grow up as I have. Mistakes do haunt you, but there are ways to fix your mistakes. And Kathy some of the checks are still unpaid, yes. I wrote some bad checks years ago and went to court for it. I paid the check and that was it, it is not on my record. The judical system is not going to lock someone up for a $30 dollar bad check. You pay the check and it gets dismissed. When we get into grand larceny then we may talk about jail time. The court system where I am, deals with murders and rapes on a daily basis, they will not lock me up for writing a check to CVS for $15. The SOL is going to be up soon for these debts and that is that. Have I learned from my mistakes, yes I have. Your snide comments about my child go unappreciated.
Re: Re: Re: could I get an auto loan with this I have a new bank account and all of these checks but one are all out of chexsystems. And these days who uses checks. I pay my bills on the phone or online.
Re: Re: could I get an auto loan with this Hollypc, If you took ANY thing I said as being a snide remark toward your child then I apologize from the bottom of my heart. I have three children I adore and I certainly would NEVER make a snide remark about anyones else's child if my life depended on it. If you have paid these checks then good, I am really glad...it's just that some people aren't aware of all the consequences out there and my post was more a question and a concern and not meant to be a put down or an attack. I was a single mom with a four year old at a time in my life too so I know a little bit about where you're coming from in that regard... Just remember that everything you do (or don't do) today will effect a lot of tomorrows for both you and your child.
Re: Re: Re: could I get an auto loan with this A big fat DITTO to that! Smontoya, You WILL succeed, just keep your goals in sight. Your van may be an embarrassment to you but think of it as your ride to a better life
Re: Re: Re: Re: Re: Re: Re: Re: Re: could I get an auto loan with this I used to work for a Nissan Dealership in car sales and we would find what you call(deadbeats... RATS) If you have bad credit you were a RAT but most of the time we got them financed if they had a good stable job with REPORTABLE and VERIFIABLE income. This is were you are lacking Myndi... Nobody is going to want to finance you because your income isn't documented legally through a W2 and paystubs and the fact that sometimes, subprime lenders want to see tax returns for the past 2 years and bank statements as well. I always laughed when I would read that like 75% of the people have credit scores above 680 because that is such bull. Most of the time at the dealership which didn't advertise that we had subprime financing because we didn't really but we had some awesome F & I guys who could get a ton of deals bought, the customers would have credit scores below 615. We never pulled credit until people were ready to make an offer and a deal to drive home that day with the car. I had a guy who we got financed with a credit score of 377 with 14% interest rate but he had a good job as a police officer at the sherriff's dept. He had to buy what we told him he could buy though and the exact car the finance company would do the deal with. WE have been there done that with high interest loans too. When we first moved here to KC, our old 1987 Mazda 626 blew its tranny and plus had some other serious problems, such as head gasket leakage, heater core going and severe underbody rust around the back wheel well which was impossible to repair and would never pass the Missouri inspection guidelines. Anyway, Jim(my dh) just got a new job here, we just moved here, he just had a BK 7 discharged, had a horrible credit score of 477. Just about everything a finance company would laugh their heads off that we were trying to get a loan. We went to a local ford dealership and they would even let us test drive a car and we wanted a minivan but after putting us through their f & i guy the only car they would finance us on that met our needs for size was a 2000 mercury sable LS. It was nice though, had a/c, power sunroof, power seats and power windows, movable pedals, alloys everything. So if you want to get a loan, beggars can't be choosers, you are going to have to get the loan and most likely not be able to choose the car you want, they will do it for you. Cars with large rebates are good because they can be used as downpayments and used cars that haven't hit the NADA books yet too are good because they can be sold at used prices but their NADA value is still at brand new invoice price. Okay I hope I have helped any of you who have questions about bad credit loans.
Re: Re: Re: could I get an auto loan with this Thanks guys... as much as I hate the van I do have to admit it is nice not having a car payment!! I've just been burned too many times when it comes to credit. For now, I'm going to avoid high interest loans like the plague. It just doesn't make sense to pay $200-$300 a month more for a car than someone who qualified for the lower rates does. Dh and I will just keep plugging away- keep paying our open accounts on time and working on our reports. Hubby was just able to open a total of $6,000 in credit lines with Household last month so we must be doing something right The trick is to only charge what we know we can pay off that month. So far so good Hopefully, less than a year from now our median scores will all be above that 620ish range. THAT'S when I'll think about financing something. I'm hoping that with a good down payment I can buy myself down a rate with FMCC or GMAC like JLynn did.
Just thought of one place Hollypc, I'm impressed with the drastic changes you've made to better yourself and provide for your son. Unfortunately, sometimes it takes a while for the credit score to reflect your improvements. Because lenders are leery of outstanding charge-offs, no matter how small the balances, it's probably better to save aggressively while you wait for the SOL to expire. I've heard commercials for www.badcreditsowaht.com on my local radio station, but I have no idea how reputable they are. If you do find anyone willing to approve you, make sure you buy the most basic car for your needs and pay it off between 24 and 36 months. That way you're not stuck paying a high interest over too long. I'm not a proponent of debt, but this is one case I can see it wouldn't be to your advantage to repay this before 24 or 25 months. Here's one trick that can help increase your score once the auto loan hits your report. Say you get approved for $10K and can afford about $3K as a down payment. Don't finance $7K. Instead, put down $1k and finance 9K. But before your first payment is due, make a payment using the $2K balance. FICO seems to improve once you owe 80% or less of the original balance. Good luck!
Re: Re: Re: could I get an auto loan with this You can definetly get a good american car for under 5K. I bought a 95 Chevy Corsica in 2000 for $4K. It had 65,000 miles when I bought it. Now, I have 184,000 miles on it, and I got $1800 from the insurance company from the "total loss" payoff from a car accident. The car never gave me any problems so I kept it because the salvage value was only $150. The car still runs great. So much for your every car under 5K is a piece of crap argument.
