Got a score of 596... what now?

Discussion in 'Credit Talk' started by Eddie101, Aug 21, 2001.

  1. Eddie101

    Eddie101 New Member

    I've got the K-Mart card, have had it for three months with no late payments.

    I am also a co-signer (secondary) on a new car lease, and have gone the last year and a half with one 30 day late payment (last month unfortunately).

    All I really want right now is a loan to buy a Motorcycle with. $7000 would be great, but I would accept much less. I also do not mind paying mid-20's for a finance rate. Yes, I know... but considering that within a year I'll have a GREAT job, I would not mind paying the high interest for a year, then refinancing later.

    Any suggestions for a fella like me?

    Thanks, everyone! :)
  2. Reshod

    Reshod Well-Known Member

    Great Job, you are well on your way.

    Why dont you try and dispute that late payment, on the basis that you value their business and as a courtesy, could they delete the late payment.

    This could bring your score up and possible get you a lower APR for that motorcycle.

    Good Luck,
  3. Eddie101

    Eddie101 New Member

    Ugh, well that late payment comes with a bit of a story.

    Five days before my payment was due, I had my online bank make the payment. Well... I don't know what happened but the payment was received by my lease company as a day late.

    My bank says they mailed it out with plenty of time, and my lease company says they got it a day late and it's not their fault.

    So, after lots of arguing, I was told by the lease company not to worry, as they did not report 30 late payments to the credit reporting agencies.

    So I said okay.

    Then a couple of months later, I made a payment that was 15 days late. Thinking, no big deal... it won't show up on the credit report.

    My mistake. It's ON THE REPORT. :(
  4. Cadillac408

    Cadillac408 Well-Known Member

    How can they report you for being 30 days late if you were only 15 days late??? Or even 1 day late??? DISPUTE IT!!!!! Bottom line is that's not 30 days.

    That is part of the argument that I had w/ Ford Credit. My ex was making payments *late* but not over 30 days late! They refused to work with me......even after I faxed financial statements. I disputed w/ the CRAs and they ALWAYS came back verified. I was only a co-signer.
  5. MikeB

    MikeB Banned

    That is very irritating to me as well. It is not 0-30 days, it is 30 days and over. Creditors can't make their own rules. Tell the creditor this and demand proof that you were 30 days late.

    GEORGE Well-Known Member

    SUPPOSEDLY 1-30 days = 30 days...
  7. MikeB

    MikeB Banned

    You can't be 30 days late if you paid the debt 5 days late. Some creditors understand this, but some are idiots. Unfortunately I don't see anything defining a "30 day late" from FCRA or FTC. Maybe FCRA "assumed" that "30 day late" was self-explanatory? I have only had one creditor that I am sure of that does that 0-30 crap.

Share This Page