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Marv, thank you for taking my app. My credit is questionable but I'm needing to get into a truck as quickly as possible.

 

Credit Application:

Your Age: 37

Your Equifax Credit Score: 527 auto8 506
Your Experian Credit Score: 544 auto8 555
Your TransUnion Credit Score: 583 auto8 487

How long have you been on file with the CRA?s? 13yrs

Previous Automotive Credit History:
Do you have an open auto loan? No
Will this loan be a trade-in?
Number of late pays within the last 12 months on the currently open loan?
Number of late pays within the last 13-24 months on the currently open loan?
Current open auto loan is financed with?
Current open auto loan payment is?
Estimated amount you may be upside down in this vehicle?
Rate your payment history on this open auto loan from 1-10 (10=BEST)

 

I have read and understand the original pinned "No Credit Check Required" topic. Yes

Revolving Credit History:
Total number of revolving accounts? 10, 5 open
Total percent utilization overall? 84%

Your Information:
How long at residence? 1yr, previous 7 years
Rent/Homeowner/Live with relative? Rent
How long at current job? 4 years
Total Provable MONTHLY GROSS INCOME? $13,000
Provable via computerized paystub or what method? Self employed, P/L, statements from client, bank statements, etc.

Your Downpayment in CASH:
Rebates not considered; Trade Equity not considered: CASH ONLY PLEASE INPUT. $12,000

Does any credit repository contain any Public Record?
Is so, please describe. Yes, ch13 bankruptcy 2017, ch13 bankruptcy dismissed 2017 (failed start)

Does any credit repository contain any Collection Account(s)
If so, please describe. Yes, 3 small collections, all recently paid and all 3 set to be removed soon.

New or Used Vehicle you are considering; please describe: New GM pickup, 48k

Your creditworthiness on a scale of 1-10 with 10 being the best:
OVERALL credit:  3
Installment Credit History: 2
Revolving Credit History: 4

Ch 13 Bankruptcy about to be discharged within next 30 days. Questionable payment history through 2020 but things are back on track. Working on getting negative items removed as quickly as possible.

 

 

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Do not pull the trigger until the BK is discharged, or unless you find a finance mgr who has access to pacer and can check beforehand.   After discharge I know with that kind of downpayment I could get a loan for you.

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Thank you for the quick reply. I have an operating business that's 15 years old with a small amount of decent business credit reporting to Experian (about 5 tradelines). Will this help me in any way? Will I be slaughtered on the interest rate with these scores?

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3 hours ago, MarvBear said:

I would rather take a butt whipping than have to do a corporate loan.  So, with me, no.

This explains a lot actually. Thanks for the advice.

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Hi Marv, me again. I notice on my TU credit report that when GM Financial did their last inquiry, they pulled info from CoreLogic, Chex Systems, and something that gave them my local real property information. Is this normal and do other common lenders do this as well? I thought they just pulled the credit bureau.

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  • 1 month later...

Marv, I have an updated application. A lot has changed on my file over the past few weeks. Would you please let me know if it's time or if I should wait a little longer.

 

Credit Application:

Your Age: 37

Your Equifax Credit Score: 593
Your Experian Credit Score: 636
Your TransUnion Credit Score: 605

How long have you been on file with the CRA?s? 13yrs

Previous Automotive Credit History:
Do you have an open auto loan? No
Will this loan be a trade-in?
Number of late pays within the last 12 months on the currently open loan?
Number of late pays within the last 13-24 months on the currently open loan?
Current open auto loan is financed with?
Current open auto loan payment is?
Estimated amount you may be upside down in this vehicle?
Rate your payment history on this open auto loan from 1-10 (10=BEST)

 

I have read and understand the original pinned "No Credit Check Required" topic. Yes

Revolving Credit History:
Total number of revolving accounts? 9, 4 open
Total percent utilization overall? < $40%

Your Information:
How long at residence? 1yr, previous 7 years
Rent/Homeowner/Live with relative? Rent
How long at current job? 4 years
Total Provable MONTHLY GROSS INCOME? $13,000
Provable via computerized paystub or what method? Self employed, P/L, statements from client, bank statements, etc.

Your Downpayment in CASH: Can do $5000
Rebates not considered; Trade Equity not considered: CASH ONLY PLEASE INPUT.

Does any credit repository contain any Public Record?
Is so, please describe. Yes, ch13 bankruptcy 2017 Discharged, ch13 bankruptcy dismissed 2017 (failed start)

Does any credit repository contain any Collection Account(s): yes
If so, please describe. Only 1, < $20, will be removed within 2 weeks

New or Used Vehicle you are considering; please describe: New GM pickup, 48k

Your creditworthiness on a scale of 1-10 with 10 being the best:
OVERALL credit:  5
Installment Credit History: 6
Revolving Credit History: 5

Ch 13 Bankruptcy discharged. Questionable payment history through 2020 but things are back on track. Working on getting negative items removed as quickly as possible.

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