Question for Marv

[Linx04]

Marv:

 

Recently two weeks off a repo I got financed at a local credit union for a 2007 300 my score was in the low 500's. I make less than 50K per year and I have a TON of debt I have not done BK yet because I sue so many debt collectors I am pretty much left alone.

 

So I send my friend, who had 18 all PAID ON TIME auto loans and paid off before he filed BK. He filed BK in 2005 and was discharged. He has multiple medical collections (all his wifes and not his responsibility) and about 6 other small CC charge offs like Barclays, hooters and the like. He makes over 100K per year now and has since 2009 (he was laid off in 2007 which is where the charge offs come from)

 

My FnI guy got me 7% on my car loan, through the local CU which is where I sent my friend. They turned him down and he has NO current bills aside from the charge offs. He had an excellent LTV on the car, the CU even said so. Is there any way he could get approved online somewhere? Anything you would recommend?

[spotlessbureau]

Marv:

 

Recently two weeks off a repo I got financed at a local credit union for a 2007 300 my score was in the low 500's. I make less than 50K per year and I have a TON of debt I have not done BK yet because I sue so many debt collectors I am pretty much left alone.

 

So I send my friend, who had 18 all PAID ON TIME auto loans and paid off before he filed BK. He filed BK in 2005 and was discharged. He has multiple medical collections (all his wifes and not his responsibility) and about 6 other small CC charge offs like Barclays, hooters and the like. He makes over 100K per year now and has since 2009 (he was laid off in 2007 which is where the charge offs come from)

 

My FnI guy got me 7% on my car loan, through the local CU which is where I sent my friend. They turned him down and he has NO current bills aside from the charge offs. He had an excellent LTV on the car, the CU even said so. Is there any way he could get approved online somewhere? Anything you would recommend?

 

Has he established any new credit since filing bk?

[MarvBear]

Did the dealer try Americredit, Capital One..........? sounds like he should be approvable.

[Linx04]

He is buying this through a private party. Anywhere you.can recommend? Does cap one take aps from non dealers for cars?

[MarvBear]

He is buying this through a private party. Anywhere you.can recommend? Does cap one take aps from non dealers for cars?

 

 

Not that I know of. I always have a couple local credit unions under my belt when I know I can't do an indirect loan. I just call ahead and send them directly to one of my analyst friends.