newbie question

[proxyman01]

Hi all,

 

I have been posting to the general credit forum as I rebuild my credit.

 

Here is my situation:

 

I am would liek to get a new car loan sometime in the next 12 months. The amount that I would finance will be around 35k for a 55k car (possibly a lexus SUV).

 

My credit has been perfect throughout my 25 year credit history, but I had problems last Fall. I am a small business owner in the financial services business. My company suffered problems which led to three chargeoffs that appear on my personal crfedit reports. They are paid. In addition to this, I have around three other accounts that were 30 days late (two of them being auto loans). I also have 4 paid tax liens from that time as well.

 

I have many auto loans and leases on my credit report that have been paid over the years and never late. My two current loans (one lease through mercedes and one loan through acure financial) has two and three 30 day late marks, respectively.

 

Again, this all happened late last year and there have been no lates since on anything.

 

My current scores are in the very low 600's and my util;ization is at 100%. I will pay down deby and get my scores hopefully to around 700 within the next year.

 

My income is good at over 250k and I own a home with significant equity.

 

Is there hope for me? Any suggested next steps?

 

Thanks very much!

[proxyman01]

sorry for the typo's. My keyboard needs a new battery

[MarvBear]

just keep improving your overall credit situation during the next 12 months.