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rconnor

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  1. Just spoke with Verizon and they wont talk to me because it's with Chase Receivables the collection agency. They say I have to talk/pay them and they will update Verizon I asked about the ETF and they said they would send copies of invoices...???? The recovery dept was not equipped to haggle balances and I would need to be transferred back to billing. Inquired if I paid off the account how would it reflect and they said it would state it as a Paid collection. So it appears Im out of luck with getting this thing off or having it updated favorably. Seems to me since a paid collection is no diff then an unpaid one that I do nothing and let it drop off in 5 years since paying it now, 2 years after it went south will only extend my misery another 2 years
  2. I financed a new car in December of 2013. In February of 2014 I tried and was successful in refinancing that car with Navy Federal. They sent me a check to pay off the car but I changed my mind and cancelled the loan in March. Now I have a closed loan for 78k on my credit reports with no payment history but stating that it's paid in full satisfactorily, The close date is April 2014 My question: Is this lowering my AAOA? Is it beneficial to have this account showing on my report. Does that outweigh the lowered AAOA if any? Can I dispute this off or have NFCU take it off
  3. I have one bad thing on all three of my credit reports, A verizon wireless collection for service that I terminated within the allotted trial period along with some prorated service but was charged an ETF anyway. While I will dispute the ETF fee I know I will still owe for the service I used so only part of the collection is valid. The collection was posted by Verizon for $219 on January 2014. The debt is from May 2013. Previous to that it never showed on my credit as an open account. My current scores are Equifax 717, Trans 732, Experian 722 Given the choices below what should I do. 1. Pay Verizon off and settle the account. This will refresh the latest activity date (right?) and simply update it to a paid collection thus doing nothing for my credit score. (right?) 2. Pay the collection agency that contacted me in January about it but has not posted it on my credit. The reason I'm thinking of paying them is because they are offering to settle for $80. If I pay them can I dispute it as paid and possibly get it deleted off or will Verizon just update it thus giving me the same result as number one but for less money. 3. Do nothing and hope the collection agency will put it on my credit report and then dispute Verizon as duplicate and get it taken off and then negotiate a pay for delete with collection agency 4. Dont pay it at all because it wont do anything to raise my score 5. Another choice I have not considered
  4. UPDATE After going around the world looking for financing including the MB dealer who would only give me 60k I did the very thing I should of tried in the first place. 27 inquirys later I walked into my local communuity bank of 10 years where I have my business account and asked about their loan criteria. They said they don't look at your car loan history. All they want to see is steady employment, good credit, a worthy automobile and a decent DTI ratio. The next day they cut me a check for $80,000. I added $5,900 for car taxes and I am now the owner of a 16k mile 2012 Mercedes CLS 63 AMG w/P30 performance package. I am estatic. I've been a quiet member for years and have learned a lot. It's an incredible feeling to be entrusted with that much money. Thanks to all!!!!!
  5. Thanks Marv I did put in an app with MB thru a leasing broker last week. They are taking a looooong time to work on it. I spoke directly with the finance guy at the MB dealer and he didn't see a problem with me getting a 1,000 month lease. He verified income, I explained me not having a large loan before and the 30 day late...he is still proceeding so I assume he knows his company and what they will or won't do. Not sure what the hold up is but I guess he is waitng on the MB mothership. to approve or deny. He is out of Daytona Beach. Something tells me I probably should walk directly into MB and deal direct. The bad part about this is they are pushing a 2014 CLS550 on me...and a lease at that. but like you said I'm kind of willing to take my lumps to get myself established and possibly terminate early and get into ownership All of my denials came from banks and credit unions. I appreciate the confirmation and glimmer of hope on something I absolutly do not need.
  6. My credit score has never been a reason for denial and most finance folk dont look twice at the 30 day lates on the loan I cosigned. My average age of accounts (6 loans and 2 new credit cards) is likely bring the score down) I have a lot of new credit. Thanks for the comments
  7. I would like to buy a 2012 Mercedes CLS63 valued at around 80k. I have a decent credit score (Low 700's). a credit file 17 years old and I make around 285k a year. I have 7 -10k to put down I have applied several places for a loan but I've been turned down because I have never financed a car of this amount before. My high credit for a car is around 22k on a 30k car. Since 2010 I have financed 4 cars and 2 motorcycles. I currently have 1 bike loan open and 1 car loan open with around 11k left on it. I cosigned on one of those 4 cars and it was 30 days late two times a year and a half ago. All my other vehicles have been paid on time. In 2010 I wanted to buy a Mercedes but I had zero loans showing on my credit report because my previous 19 year old Lexus LS had fallen off. So knowing this I started from scratch again buying a 20k ford Excursion and a 30k Nissan 350Z. Later I bought two Harleys, a car for my daughter (cosign) and a car for a friend. None of these loans are over 30k. My hopes was to establish car loan history so that I could get the car I wanted, now. I thought I had put my time in. Well fast forward to today it seems I'm still not credit worthy enought to finance a 80k car. All lenders come back with "you have insufficant credit history with a car this size" Seems the most I can get....with begging, is 45k, and thats if I put 10k down. (Not sure if that means they loan 35 on a 45k car or 45 on a 55k car) Are there any solutions. Yes I can put half down on the 80k CLS but that does not solve my problem next time I want to buy a 125k car. This is not about finding a way to get into the CLS its about finding a way to finance it to establish history and credibility. So do I have to buy a 40k car, then a 60k car and to get into my 80k car How long must I show the 40k loan before they will approve me for the next level up. Any other options?
  8. I just applied for and was granted a CLI on my Captial one card. Im going from 500 to $2500. I have one other card with a $400 credit line My captial one card has a zero balance and the other card is at $1.36 or < 1% Will the CLI raise my score any? I'm thinking no since I'm already basically at < 1% over Utilization
  9. Can you tell us what lenders do auto business applications
  10. Thats a good idea to ask them to rehab. Is that a common practice. Do they do that. The sad part of this whole ordeal was that it was a secured card (yeah I know). Perhaps they will let me reopen it by posting another deposit
  11. I have a credit card that defaulted from a credit union. The balance is $110 which I can easily pay off. It defaulted Febuary of 2009 The status is charged off account. If I pay this what is the status likely to be and will my credit score go up or down as a result Is it best to let sleeping dogs lie? I'm still a member of this credit union and I'm thinking its best to pay it off because I want to get future loans from them
  12. Thanks for all the responses When I asked the dealer what their score was they said it was an "Enhanced Beacon" score. I guess the enhanced meant we add on my criteria to make sure your really screwed. Another question. Now that I have wasted my money on Truecredit (it was supposed to be a free trial but it charged me right away) are you saying that I don't need to pull a MyFico score as it will probably the same as Equifax. There prob is no need to keep pulling cause it certainly isnt going to go up over 600. I have exactly one good paid off item and one charge off for 110 on my account that I will pay. I guess its time to start building again.

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