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DCU and blemishes

tag
Anonymous
Not applicable

DCU and blemishes

Has anyone secured an auto loan from DCU with major late payments on their report? I've got a 40 month old 120-day late on a student loan that I am trying to have removed from my EQ. Of course now I've found a used car that appears to be a good deal in my area and I think I need to make my move. My current score is 683 with the baddies. My TU and EX are 762 and 753. On all three reports I also have one 30-day late car payment from 2011.

Message 1 of 7
6 REPLIES 6
gibeon
Established Contributor

Re: DCU and blemishes

They refinanced my car with a 675 EQ (out if 818 points, whichever that one is) and about 60 late payments from (now rehabbed) student loans and several paid charge-offs.

They seem to be fairly lenient, as cars make decent collateral.
23 Open Bank Cards / 7 Open Store Cards / TOO many inquires / Mid/High 600's
Message 2 of 7
Anonymous
Not applicable

Re: DCU and blemishes

Thanks for that feedback. I'm nervous about applying. I thought my EQ would be cleaned up by now.

Message 3 of 7
Anonymous
Not applicable

Re: DCU and blemishes

I have 4 120 day late payments on student loans from 1.4 years ago that are now current. Same credit score range as you (high 600's). I was approved for $18k at 3.99%. Give it a shot and if you plan on shopping around, do them all within a 2 week period.

Message 4 of 7
Anonymous
Not applicable

Re: DCU and blemishes

I refinanced with them in June. They pulled me in the 660's and I have a repossession, foreclosure, and other charge offs on my file. Got their second best rate at 3.99 with direct deposit.

I came from 15.99 so I'm very pleased.
Message 5 of 7
Anonymous
Not applicable

Re: DCU and blemishes

should i app for dcu

score is 645 all three

hisotry

1 repo on '09

5 collections nearly 6 yrs old unpaid

i need to refi

right now im paying 440/ month @ 18%

remaining amt is 12k

i want to lower the payment if possible

any suggestions?

 

Message 6 of 7
Dj4Money
Established Contributor

Re: DCU and blemishes

 Refinancing is much easier when you have an auto loan already. It's less risky for a lender to take it over because you have proven worthy by paying your payments on-time.

 
 Your rates will depends on your score not really whatever else is on your CR especially if it's a few years old. I got 4.49% from Logix with a 649 EX score, repo from 2009 and charge-off from 2008.

 

 All my other collections are gone, including Midland. My UTI is 45% but it should be lower as my $1,000 CLI hasn't shown up yet on my report.

 

 However I can't trade-in my car and carry the negative balance. So I did the next best thing for now...

 

Message 7 of 7
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