6 replies to this topic

[dtoivola]

Credit Application:

Your Age? 31

Your Equifax Credit Score? 561
Your Experian Credit Score? 545
Your TransUnion Credit Score? 541

How many years have you been on file with Equifax? 11
How many years have you been on file with Experian? 11
How many years have you been on file with TransUnion? 11

YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY

Do you have an open auto loan? no
Will this open auto loan be a trade-in? no
How many late pays within the last 12 months on the currently open loan? no
How many late pays within the last 13-24 months on the currently open loan? no
Your current open auto loan is financed with? no
Your current open auto loan payment is? no
Estimated amount you may be upside down in this vehicle? no
Rate your payment history on this open auto loan from 1-10 (1=poor:10=Best) no


YOUR REVOLVING CREDIT HISTORY

Total number of revolving account(s) you have? 7
Total percentage utilized overall? 45
How many of your revolving accounts are store cards? 0
How many of your revolving accounts are major credit cards? (i.e. Amex, MC, Visa) 1
How many of your revolving accounts are known subprime credit cards (i.e. Aspire, 1st Premier) 1

YOUR PERSONAL INFORMATION

How long at your current residence? 1 currently 2 previous address
Do you Rent or have a Mortgage, or Live w/Relative or Other? rent
Your Monthly Rent or Mortgage payment? 922
How long have you held your current job? 2 years
Your total provable monthly gross income is? 5415.33
Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return) computerized paycheck
Is there additional monthly income? What amount monthly? 245.00
Describe the source. Child Support
Is the additional monthly income provable? yes, state issued check stubs
Spousal income is not applicable.

YOUR DOWNPAYMENT
Please tell me your exact down payment in cash? (rebates and trade equity are not considered, please input a dollar value only.) $4000
Does any credit repository contain any Public Record? Bankruptcy
If yes, please very briefly describe. Chapter 7 Discharged in Oct/2005

Does any credit repository contain any Collection Account(s)? Yes
If yes, please very briefly describe. There are a few medical and utility collections still on there that I have paid off but the credit is not reflecting that as I only paid those off at the beginning of this month. There was a repo back from three years ago. There is a collection for that, that just recently popped up on my credit for 21k...

Please rate your overall creditworthiness on a scale of 1-10 (1=poor, 10= best) 3
Please rate your Installment credit history on a scale of 1-10 (1=poor, 10=best) 3
Please rate your Revolving credit history on a scale of 1-10 (1=poor, 10=best) 3

New or Used vehicle you are considering: Please very briefly describe.

I am considering a 2010 Camaro. Under 20k miles and sticker prices 28-30k.

I have a loan from a credit union that was settled after some very late payments back 4 years ago. it was a total of 9k but was remedied with the finance company and paid off. There is also a small auto loan from a buy here pay here place that somehow got reported as an auto loan on my credit reports. It was a value of $2100 but shows in good standing and paid in full.

I'm currently working with a credit repair company for a little over a month and has upped my score. I'm anticipating my score will go up slightly within the next month but I am very much in need of another car as my 1994 cadillac has over 180k and might not last much longer with my commute.
Do you think I have any chance whatsoever? Much appreciated. Thank you!

[MarvBear]

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[MarvBear]

Would consider with POI upfront and for significantly less money borrowed.

[dtoivola]

Thanks Marv! My question now is: Is it the low scores that is hurting me the most, the repo, or the bankruptcy?

[MarvBear]

Bankruptcy once, then a repo. And lower scores.

Not the best combination to work with.

[dtoivola]

Yeah, the bankruptcy should be coming off towards the end of the year. I believe I will wait until that comes off and my scores get higher. Thanks so much Marv!

[MarvBear]

Yeah, the bankruptcy should be coming off towards the end of the year. I believe I will wait until that comes off and my scores get higher. Thanks so much Marv!

A chapter 7BK usually stays on file for 10 years. I hope you can get it removed earlier than scheduled.