origico

With a $5k downpayment that should leave about $2k in negative equity, hopefully absorbed by rebates.....

Credit Application: Your Age? 24 Your Equifax Credit Score? 645 Your Experian Credit Score? ??? Your TransUnion Credit Score? 615 How many years have you been on file with Equifax? 7 How many years have you been on file with Experian? 7 How many years have you been on file with TransUnion? 7 YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY Do you have an open auto loan? Yes Will this open auto loan be a trade-in? Yes How many late pays within the last 12 months on the currently open loan? 0 How many late pays within the last 13-24 months on the currently open loan? 0 Your current open auto loan is financed with? Santandar Your current open auto loan payment is? $425 Estimated amount you may be upside down in this vehicle? $7000 Rate your payment history on this open auto loan from 1-10 (1=poor:10=Best) 10 YOUR REVOLVING CREDIT HISTORY Total number of revolving account(s) you have? 6 Total percentage utilized overall? 23% How many of your revolving accounts are store cards? 1 How many of your revolving accounts are major credit cards? (i.e. Amex, MC, Visa) 4 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 year Do you Rent or have a Mortgage, or Live w/Relative or Other? Rent Your Monthly Rent or Mortgage payment? $350 How long have you held your current job? 1 year Your total provable monthly gross income is? $2500 Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return, or bank statements) paycheck stub Is there additional monthly income? What amount monthly? 0 Describe the source. 0 Is the additional monthly income provable? 0 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.) $5000 Does any credit repository contain any Public Record? no If yes, please very briefly describe. Does any credit repository contain any Collection Account(s)? Yes If yes, please very briefly describe. $644 to asset acceptance opened 12/2009 Please rate your overall creditworthiness on a scale of 1-10 (1=poor, 10= best) 7 Please rate your Installment credit history on a scale of 1-10 (1=poor, 10=best) 6 Please rate your Revolving credit history on a scale of 1-10 (1=poor, 10=best) 7 New or Used vehicle you are considering: Please very briefly describe. 2010 Hyundai Genesis Coupe 3.8 $25000 target price

Looks like a pretty good CU! Is the cash back automatic for the free checking, or does it require you to submit signed receipts?

The source: http://www.lectlaw.com/files/cos81.htm ....at second glance is seems a bit shady Right in terms of the amount being financed - $13500 vs (new car + neg. equity) - but the interest on my current loan is 18%. My CU maybe able to offer lower interest on a larger sum. FICO has improved slightly and payment history with the CU is great. I believe they will give me a shot.

I'm looking at a new car loan for about $25k, the problem is that I'm really upsidedown. The car I bought in 2007 is now only worth about $5500 with a loan balance of $13500 - $8000 difference. If I plan to spend $4000 on a new car - should i send that money directly to my finance company, or give it to the dealers as a down payment? (i read that all down payments are pure profit to the dealers) Also, if i'm not able to line up financing before going to the dealer, would the down payment amount affect my chances of loan approval?

I tried the LUV button and ended up with a CLD to my current balance. BEWARE... your results may vary

Thanks Marv! Is Negative equity is pretty much a no-go unless your scores are 650+? If so, is sounds like my best bet is to combine cash/rebates to level it out...

Drive Account open since Dec. 2007, so 25 months. I'm hoping to get something that retains its value better than the Suzuki has... Drive is charging an 18% APR. I tried refinancing but no one so far has bitten....

Credit Application: Your Age? 23 Your Equifax Credit Score? 598 Your Experian Credit Score? 585 Vantage Score 632 Your TransUnion Credit Score? 597 How many years have you been on file with Equifax? 5 How many years have you been on file with Experian? 5 How many years have you been on file with TransUnion? 5 YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY Do you have an open auto loan? Yes Will this open auto loan be a trade-in? Yes How many late pays within the last 12 months on the currently open loan? 0 How many late pays within the last 13-24 months on the currently open loan? 0 Your current open auto loan is financed with? Drive Financial Your current open auto loan payment is? $425 Estimated amount you may be upside down in this vehicle? $7500 Rate your payment history on this open auto loan from 1-10 (1=poor:10=Best) 10 - never missed/late payment YOUR REVOLVING CREDIT HISTORY Total number of revolving account(s) you have? 4 Total percentage utilized overall? 65% 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 - Citi How many of your revolving accounts are known subprime credit cards (i.e. Aspire, 1st Premier) 2 - Orchard/Hooters YOUR PERSONAL INFORMATION How long at your current residence? 1 year Do you Rent or have a Mortgage, or Live w/Relative or Other? Rent Your Monthly Rent or Mortgage payment? $711 How long have you held your current job? 3 mths Your total provable monthly gross income is? $2750 Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return, or bank statements): paycheck stubs Is there additional monthly income? What amount monthly? $400 - child support Describe the source. Is the additional monthly income provable? yes via bank account 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.) up to $4000 Does any credit repository contain any Public Record? no If yes, please very briefly describe. Does any credit repository contain any Collection Account(s)? yes - 1 auto repo collection from 2007 If yes, please very briefly describe. Please rate your overall creditworthiness on a scale of 1-10 (1=poor, 10= best) 7 Please rate your Installment credit history on a scale of 1-10 (1=poor, 10=best) 4 Please rate your Revolving credit history on a scale of 1-10 (1=poor, 10=best) 6 New or Used vehicle you are considering: Please very briefly describe. used 2008 Honda Civic Thanks for your help!!

***subscribing*** Dealing with Hilco Receiveables, LLC now - TFC DV them at least 3 times with no response. Filed suit in small claims court - wish me luck!! Good info in here BTW

I tried the BBB, AG, and DV with Hilco and they didn't budge, they didn't even response... So I filed a small claims suit in Texas... maybe that will help?

Take this with a grain of salt b/c everyone's tax situation is different. But, I don't believe you will have to file quarterly next year. You should be able to adjust your witholdings lower at anytime. If you won't be able to claim your children for tax year 2010 then you will want lower w/h on the W4, in order to prevent a shock like this come tax time next year. The IRS may work with you on setting up some payment arrangement. I'd caution against taking a loan from the 401K - unless you are absolutely certain you can pay it back. 401k distributions are taxed at your income tax rate plus an additional 10% penalty. Hope this helps.

check with your Secretary of States' office

I checked TX SOS and they are registered and bonded: Principal Name: Hilco Receivables LLC Address: 5 Revere Drive Suite 510 Northbrook, IL 60062 File Number: 20080123 Status: Active Date Filed: 6/23/2008 Phone: (847) 509-7800 Bonding Company: Farmington Casualty Company Bond No: 105118603 Also, the CA finally responded to the BBB stating that they HAVE sent validation in December?!?! I filed a rebuttal but i'm not sure how that's going to work out. My next steps are to send a letter to their Bonding Company, then small claims court after that... tips?

So, I have this collection "factoring" account on my credit report based on a repo in 2007 in TX. The OC is Wells Fargo. I noticed the account on my credit report in Dec 2007 when my FICO went from 605 down to 535. The DV process begin with an initial letter requesting documents validating the debt on Dec 4, 2009. No Response. A 2nd DV letter was mailed on Jan 4, 2010. I still haven't gotten a response. Hilco Receivables was the name of the collection agency. The new name is Equable Ascent Financial Holdings with a completely new address. I guess my question is, since the SOL in TX is 4 years, should I continue to wait to see if they remove/verify it? Or, should I file a small claims suit against Equable/Hilco now for violations of TFC 392? Or, should I send another letter? Its a bit frustrating b/c FICO is looking at the collection account as a recent past due payment. Which is causing a big hit on my score... Any advice?