Thanks CB! Patelco Reconsideration Success AGAIN!!

[BHill92393]

OMG, I can't believe it!! I desperately need to purchase a car ASAP, but wasn't sure who would finance me (CH 7 discharged 8/03, 2 repos IIB, Crap One $300 and Orchard $300 only positive TL's, both opened for about 6 months.)

 

Searched here and Auto Finance Forum for ideas. After lots of reading and contemplating, I decided to call Patelco, who gave me $1000 MC and $500 VISA after reconsideration request a month ago. Note* EX has since tanked 60 points since Patelco approval due to Ex's Date of Status crap.

 

Called same rep from before "Carol" at her direct extension. Told her that was in need of auto but had just opened CC accounts with them and wondered if I could be approved. She said that didn't matter as long as debt to income ratio was good. Told her that report was pulled on 6/28 and needed them to use same report. She said they SHOULD. Crossed fingers and gave her info to submit over the phone. Asked for $15,000. Seemed like hours and then..DENIED. Reason: Too little established history since BK and recent Patelco accounts.**Note: they did use same report from 6/28 with EX score around 659.

 

Told Carol that I would be willing to pay cc's in full and close one in order to secure auto loan. She submitted request and came back with approval for $10,000 as long as I put down 20% of sale price (they did not require me to close cc account like I offered to). I told her to try for a little more. Final answer they will finance $12,000 as long as I make a down payment of 20% of sale price. WOOHOO!! It may not be much to some, but it's a whole lot to me given the circumstances. Thanks again CB. Couldn't have done it without you. The moral of the story is to BE PERSISTENT!!!!!

[CALady]

Great news! Congratulations!

[really trying]

Congrats on your approval!

 

:thumbsup:

[BHill92393]

Thanks!! I'm so psyched. Could never have made the progress I've made so far without the help from the members of this board.

[stillinthegame]

nice job Bhill-way to stick with it!!!!

[BizCredit]

:thumbsup:

[plzno]

OMG, I can't believe it!! I desperately need to purchase a car ASAP, but wasn't sure who would finance me (CH 7 discharged 8/03, 2 repos IIB, Crap One $300 and Orchard $300 only positive TL's, both opened for about 6 months.)

 

Searched here and Auto Finance Forum for ideas. After lots of reading and contemplating, I decided to call Patelco, who gave me $1000 MC and $500 VISA after reconsideration request a month ago. Note* EX has since tanked 60 points since Patelco approval due to Ex's Date of Status crap.

 

Called same rep from before "Carol" at her direct extension. Told her that was in need of auto but had just opened CC accounts with them and wondered if I could be approved. She said that didn't matter as long as debt to income ratio was good. Told her that report was pulled on 6/28 and needed them to use same report. She said they SHOULD. Crossed fingers and gave her info to submit over the phone. Asked for $15,000. Seemed like hours and then..DENIED. Reason: Too little established history since BK and recent Patelco accounts.**Note: they did use same report from 6/28 with EX score around 659.

 

Told Carol that I would be willing to pay cc's in full and close one in order to secure auto loan. She submitted request and came back with approval for $10,000 as long as I put down 20% of sale price (they did not require me to close cc account like I offered to). I told her to try for a little more. Final answer they will finance $12,000 as long as I make a down payment of 20% of sale price. WOOHOO!! It may not be much to some, but it's a whole lot to me given the circumstances. Thanks again CB. Couldn't have done it without you. The moral of the story is to BE PERSISTENT!!!!!

 

Thats great!! If you dont mind me asking, what kind of interest rate are they offering?

[BHill92393]

5.2 up to 48 months, 6.2 up to 66 months, 7.2 up to 72 months. They said that I get to choose. And to think I was gonna try Capital One first because I didn't think there was any way Patelco would approve me when I just got the cc's a month ago, and only got them after begging for reconsideration!!