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violette123

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Everything posted by violette123

  1. +100000000000000! Read up on lease structure prior to going into ANY dealership, and don't "take their word for it". Get it spelled out and in writing. There are a lot of F&I guys who aren't as forthcoming as our Bear. There are 2 Edmunds forums, one called prices paid & buying experiences and the other on leasing, each split by model type. Once you read up about the terminology of leasing so you are familiar with the lexicon, head over there and they can assist with seeing how much others are paying for the model you are looking at, and what the current best available lease terms are. This will give you some excellent ammo before you head into any dealer. We've received our lease quotes utilizing Edmunds. But I haven't been to these forums -- Thank you!
  2. No offense taken. That is the reason I posted here (your advice, and that of others). I purchased every single car (--sedan--) I've ever had. But-- I need more space--now. Since driving a truck is new to me, I would prefer to be conversation and not commit beyond 2-3 years, I figured a crossover (SAV) for a lease could be a good bargain. There's also the component to hoping to punch a bit higher than my weight with respect to the vehicle itself, in terms of luxury...Bigger car = bigger price tag. Who knew? I won't be walking into the dealership alone. As I mentioned previously, we've spent the past couple of months researching (Edmunds pricing, local taxes and requirements/cost for registration, freight--if relevant, etc.) Every offer I have received is in writing--and outlines the number of miles per year, length of term, etc. and all fees that particular dealership adds (they differ from place to place.) If I am committed to doing a lease - will I get approved by a manufacturer in your opinion with these numbers? Thank you, Marv.
  3. We cover negative equity all the time in a lease, One of the best way to do it. Makes for a YUGE payment. Bigly!!! OMG, you two are hilarious. I looked into an SUV rental for the time frame we'd need (Memorial Day through Labor Day). Quotes were $5,600 for a small Ford Edge, to more than $15,000 for the Mercedes (!) The truth is, we've been looking at cars for a long time, and are prepared to pull the trigger. What I really am trying to determine is if the 20+ point bump on my score with the balance paydown will really make that much difference (to Lincoln or Jaguar Motor credit) if I opt to lease. My current Bank of America rate for a not-late-model used (6-y.o.) BMW was 6.94% at Tier 2. I don't think I will get to Tier 1 anytime in the next 6 weeks, and I definitely need to do something before the Summer kicks into gear...
  4. I understand entirely...I've purchased for the past 30 years (and had my last vehicle for 15 years). But because I am considering such a different kind of car (than is typical for me, at least...) I thought a lease might be a good way to dip my toe in that pool. There are plenty of tempting offers out there. That's for sure. We have been carefully examining offers from Edmunds and KBB with the dealerships --plus getting in writing up front-- the various and sundry dealer fees (in addition to tax, title and registration). It's staggering, truly. I'm prepared to pay more up front to eliminate the underwater portion of this, if need be. My primary question is trying to determine how likely it is I will be approved for the wonderful (super-low) manufacturer financing available with my current scores and existing financial and employment situation. I've paid some balances down which will likely help with score due to utilization factor; however, I need to purchase before the end of the month (a family trip on June 2); and am unsure reports will update in time to help. Does it matter? Should I just look at a purchase? Thanks again! I am really not a fan of making a huge financial decision under the gun, as it usually leads to bad decision making. Why don't you just rent a car for the family trip? It's much better to pay a few hundred extra dollars now than make a bad financial decision that will likely cost you many times that in the future. I agree with this completely, but I fear I misspoke. I have a series of family obligations that require a larger vehicle over the summer, the first of which is June 2. My husband and I discussed exactly what you propose, and it makes a lot of sense --were this a 7-day beach trip (or perhaps even two)...but not as much when it is that same beach trip, plus weekend drives to camp--for the rest of the Summer. Oof.
  5. My apologies...I don't understand your response. :-/
  6. I understand entirely...I've purchased for the past 30 years (and had my last vehicle for 15 years). But because I am considering such a different kind of car (than is typical for me, at least...) I thought a lease might be a good way to dip my toe in that pool. There are plenty of tempting offers out there. That's for sure. We have been carefully examining offers from Edmunds and KBB with the dealerships --plus getting in writing up front-- the various and sundry dealer fees (in addition to tax, title and registration). It's staggering, truly. I'm prepared to pay more up front to eliminate the underwater portion of this, if need be. My primary question is trying to determine how likely it is I will be approved for the wonderful (super-low) manufacturer financing available with my current scores and existing financial and employment situation. I've paid some balances down which will likely help with score due to utilization factor; however, I need to purchase before the end of the month (a family trip on June 2); and am unsure reports will update in time to help. Does it matter? Should I just look at a purchase? Thanks again!
  7. Thank you, Marv. May I ask, how do you feel about leases, generally? (I've never leased before.) Do you think my (relatively low) current scores are likely to be an impediment to automaker lease financing? Would sale be easier? Your low scores are due to the 80% utilization your scores are being hammered by it u would get more favorable lease terms or loan terms if u lowered your utilization. Of course. My question was whether an outright purchase would be easier with these numbers? OR is an automaker lease deal possible? What score is generally required for the latter? Thanks for your input.
  8. Thank you, Marv. May I ask, how do you feel about leases, generally? (I've never leased before.) Do you think my (relatively low) current scores are likely to be an impediment to automaker lease financing? Would sale be easier?
  9. Your Age? 49 Your Equifax Credit Score? 652 Your Experian Credit Score? 660 Your TransUnion Credit Score? 667 How many years have you been on file with Equifax? More than 20, but AAOA is currently 5 yrs. How many years have you been on file with Experian? More than 20, but AAOA is currently 5 yrs. How many years have you been on file with TransUnion? More than 20, but AAOA is currently 5 yrs. YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY Do you have an open auto loan? Yes Will this open auto loan be a trade-in? Could be, but doesn't need to be. Prepared to see outright How many late pays within the last 12 months on the currently open loan? None How many late pays within the last 13-24 months on the currently open loan? None Your current open auto loan is financed with? Bank of America Your current open auto loan payment is? $439.20 Estimated amount you may be upside down in this vehicle? $4K? Payoff is $22.K Have a Carmax offer for existing auto for $15.5K. Will receive $2.5K from BMW for refund of unused Platinum Warranty. Rate your payment history on this open auto loan from 1-10 (1=poor:10=Best) 10. Direct debit since loan origination through dealership. Also have previous paid in full auto loan with CapitalOne on reports, no problems. YOUR REVOLVING CREDIT HISTORY Total number of revolving account(s) you have? 14 Total percentage utilized overall? 80% How many of your revolving accounts are store cards? 4 How many of your revolving accounts are major credit cards? (i.e. Amex, MC, Visa) 8 How many of your revolving accounts are known subprime credit cards (i.e. Aspire, 1st Premier) 0 YOUR PERSONAL INFORMATION How long at your current residence? 3 years Do you Rent or have a Mortgage, or Live w/Relative or Other? Own Your Monthly Rent or Mortgage payment? $0 How long have you held your current job? Just shy of 7 years Your total provable monthly gross income is? $5,800.00 Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return) Paystubs/Bank statements / Employment verification letter Is there additional monthly income? No What amount monthly? Describe the source. Is the additional monthly income provable? 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.) $2,500. Does any credit repository contain any Public Record? None whatsoever If yes, please very briefly describe. Does any credit repository contain any Collection Account(s)? No If yes, please very briefly describe. Please rate your overall creditworthiness on a scale of 1-10 (1=poor, 10= best) 10 No negatives, just high utilization, which I can afford. Please rate your Installment credit history on a scale of 1-10 (1=poor, 10=best) 10 As noted above Please rate your Revolving credit history on a scale of 1-10 (1=poor, 10=best) 10 New or Used vehicle you are considering: Please very briefly describe. Need a crossover or small SUV. Long drives, so prefer luxury. Have owned 5 BMWs. Looking at Lexus, Lincoln and F-Pace. Down payment could be greater, depending whether I buy, lease, and/or trade in existing vehicle and recapitalize the amount underwater. Strongly considering swallowing whatever loss is there from sale, and starting from scratch with the best lease deal I can cut. Need 11-12K mileage annually for 3 years, minimum. I have a very small sedan, and need a more practical vehicle for family and other reasons. Thank you.
  10. Looks like somebody already had that idea (or something similar). The site has definitely encountered a lot more problems of late than in the past.
  11. Indeed. I'm turning to the wisdom of these boards to see if anyone here has had success specifically in this District with large-scale consumer action (I have, but not in this District). We have researched others here (also Virginia and North Carolina); the amount in question is outside the realm of Small Claims. It is not related to a reposession, or an argument about arbitration. My partner is a lawyer (unfortunately, not consumer law) he suggests this is more than viable as a class action. If you are aware of the legal challenges confronting Santander now in the U.S. alone (Google: Department of Justice; CFPB, etc.) than you know whereof I speak. The web is literally awash in complaints against the company, particulary as pertains to billing fees and practices. It's the reason CFPB has now jumped onto the pile. To answer your other questions: Yes, I have all documentation and records (down to the original solicitation letter from Citifinancial and all payments). I am preparing the complaints to CFPB and my SAG; however, these may need to be part of the larger complaint.
  12. Sought - Highly-rated consumer attorney. State of Maryland, District (or 4th Circuit). A search of this board (or just Google) produces literally hundreds of identical complaints to mine: Not a Santander customer (originally Citifinancial); no contract with the former Paid monthly online to ensure appropriate credit - staggering 'convenience fees' Payments still not credited appropriately Loan has matured - ALL payments made per loan terms. Account listed as 'Current.' Somehow, more than $8,000.00 in fees, various and sundry, show on account Never signed arbitration agreement. Auto was never repossessed at any time. Credit history is flawless. Class underway in Massachusetts. Wish to initiate same here. Please contact via CB. Lurkers or non-identifiable individuals will not be responded to.
  13. Is this so? They never sell at all, or they simply hold accounts for a long time (waiting to package together and sell) --sometimes assigning to CA's in the interim for collection attempts? Wondering if there is authoritative information available about this somewhere...?
  14. Keep a constant vigil on the reports and be prepared to play whack-a-mole. If you see someone sniffing around the report via soft inquiries, there is nothing to preclude you from being proactive, especially on antique claims. On the rare occasions I have seen a soft from a third-party, I'm on the phone with their general counsel ten minutes later. If they cannot tell me right away who their local counsel would be, I know they don't want to take me on and when I remind them that all levels of court are not only within sight of the office but actually just a few blocks away, they tend to realize they don't want to take me on. I completely agree. Being proactive (and fairly aggressive) can stave off a lot of nonsense. I am referring specifically with SOL stuff though. And yes, I have given them serious grief over softs. I love PPL. There is nothing like offering to have your attorney listen in on a conversation. What an illuminating thread. Centex and Stryker --my thanks to you both: terrific advice. And I just discovered, remarkably apropos to my situation. After recent, post-cleanup card apps/approvals, I thought I'd pull my Experian report to confirm who hard pulled what/at which CRA. Because of litigation (I won against a CA over the summer), I now deal with special handling. But, in addition to the banks I expected to see, I noted the brand new appearance of soft pulls from Convergent and Contract Callers. I have no current business with either, and can't imagine what they want with my file now. But after reading this thread, I can wager a guess. There's a letter in my file (at Ex and TU) added by my lawyer requesting anyone seeking information about me receives a copy of the court order vacating the judgment (and outlining the litigation against the CA). It was necessary because this erroneous public record proliferated like goddamned dandelion spores (um, thanks, LexisNexis). Something tells me that the companies buying Collection Triggers wouldn't have been offered this sort of information. We'll fill in counsel for Convergent and Contract Callers when we reach out to them.
  15. Thank you for posting this, Miss Jules. Very helpful (and illuminating).
  16. Posting in the right place now... I am utterly, completely endebted to the folks running this board, and all of the great advice here. A perfect storm of mixed file problems and serious illness had my scores in the low 600's when I began cleanup in Spring of 2013. After seemingly endless nights of working on this stuff (and lots of frustration, and wondering if it would ever pay off...) I finally bought my 'official' scores last week. When I saw 100+ - 125+ point gains (815 Vantage, for what that's worth), I knew it was time. (Incidentally, these rises happened in spite of two tenacious First Premier unpaid charge-offs -- they do less damage than they want you to think!) Before and after: Before November 2013: Cap One Platinum MC $300 Cap One Platinum MC $1000 Bank of America Cash Rewards VIsa $500 secured Two loans (All the above, current, paid on time; cc util. at 0%) And now... Cap One Platinum MC $500 (CLI) Cap One Platinum MC $1500 (CLI) Bank of America Cash Rewards VIsa $800 (modest CLI, but now unsecured) NCFU Signature Cash Rewards Visa $5,000 Discover it $4,500 Chase United MileagePlus Explorer $6,500 Amex Blue Cash Preferred $1,100 (teeny, but perfectly fine with me) Amex Gold Card Care Credit $9,000 Not just the six approvals; it was really rewarding to be able to improve my long-held subprime accounts.
  17. I am utterly, completely endebted to the folks running this board, and all of the great advice here. A perfect storm of mixed file problems and serious illness had my scores in the low 600's when I began cleanup in Spring of 2013. After seemingly endless nights of working on this stuff (and lots of frustration, and wondering if it would ever pay off...) I finally bought my 'official' scores last week. When I saw 100+ - 125+ point gains (815 Vantage, for what that's worth), I knew it was time. (Incidentally, these rises happened in spite of two tenacious First Premier unpaid charge-offs -- they do less damage than they want you to think!) Before and after: Before November 2013: Cap One Platinum MC $300 Cap One Platinum MC $1000 Bank of America Cash Rewards VIsa $500 secured Two loans (All the above, current, paid on time; cc util. at 0%) And now... Cap One Platinum MC $500 (CLI) Cap One Platinum MC $1500 (CLI) Bank of America Cash Rewards VIsa $800 (now unsecured + CLI) NCFU Signature Cash Rewards Visa $5,000 Discover it $4,500 Chase United MileagePlus Explorer $6,500 Amex Blue Cash Preferred $1,100 Amex Gold Card $0 Care Credit $9,000 Not just the six approvals; it was really rewarding to be able to improve my long-held subprime accounts.
  18. Important reminder to individuals living in Maryland: According to the Office of the Commissioner of Financial Regulation, debt collectors doing business in the state must be licensed here. And while you can use their website to confirm licensing status of CA's -- it really pays to call the office and confirm the information you receive. For example, one might be instructed by the website that a CA (such as Monarch, for example...) was unlicensed, when in fact they had become so. Yes, sometimes your head can hurt from staring at this stuff...so it is tempting to avail yourself of a website that might seem to make [at least some part of it] easier. But bad information is bad information, no matter how official it appears on the surface.
  19. FPB appears to more than meet the standard for violations of Dodd-Frank as defined in UCS 12 §5531 generally (but (d) in particular). §5536(a)(3) also appears to apply specifically, with respect to offering any of their collections activities or portfolio be managed by Monarch here in Maryland, where the latter was unlicensed. Thanks again, ICan.
  20. I haven't been able to locate anything on this topic while searching...it could be my terminology is wrong. (Actually, I'd be surprised if anything about my terminology is right.) What is the obligation of original creditors with respect to selling customer accounts in states that require debt collectors/collection agency licensing? How does does debt sale work, in the case of First Premier Bank, who sometimes appear after chargeoff to assign for collection but not sell outright? Is it simply (as I have seen it mentioned here) that they are waiting for enough debt to be bundled and sold off as a portfolio (which makes sense)? I am trying to reconcile this with a harassing collection letter I received from Monarch Recovery Management (formerly Academy Collection Service, darlings of the FTC); about a closed First Premier Bankcard account. The Maryland Attorney General stated that Monarch was not licensed to do business here (also mentioning Academy's notorious history of abuse and harassment). After my own experiences with First Premier, I was obviously familiar with that experience. Thank you.

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