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New Member
Banin0351
Posts: 10
Registered: ‎02-04-2013
0

Denied denied denied, why why why

Well, I've been reading the form for a few months and have been trying to repair my credit for the past 3 months, I got it up from 560 to 610 across the board (610 on auto fico too)

 

I have applied every where for a 14 k loan... i dont get it...

 

I have 4k down 

 

I make 1850 gross per month working security ive been on the job for 7 months, prior to this i have been using my post 9/11 gi bill to go to school (still am) i get about 1500 for 6 months out of the year while im in school, this income cant be used on my credit report, trust me i checked, i called 30 diffrent cu's and banks to check there underwritting policy.

 

heres my credit report

$1200 credit card collection from bof back in 2007 (I was stupid and 18)

600 collection from jcpenny in 2007

key jewelers card  in good standing, $600 credit limit closed in 2008(i dont know why they closed it, i was never late on that one)

i went in the marines and paid Them all off around 2008 

about 6 different medical billmy for collection in 2010

2012 I got a collection from progressive (I will fight it because they gave me no notice and I paid it right away after it showed up on my credit)

I paid all the medical collections about 3 months ago

i opened and cap1 secured card and only have 1 payment on my score in good standing

no other credit history 

Contributor
BlueHusky
Posts: 193
Registered: ‎04-01-2012
0

Re: Denied denied denied, why why why

As a marine you should look into the credit unions for army personel...they will work with you more than a bank will.




Starting Score: 583 (CreditKarma, 2009)
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Established Contributor
electra
Posts: 573
Registered: ‎10-21-2012
0

Re: Denied denied denied, why why why

If you were a Marine you may qualify for Navy Federal Credit Union.  They are VERY generous with credit for folks with lower scores/credit issues.



Starting Score: TU:584 | EQ 584
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New Member
Banin0351
Posts: 10
Registered: ‎02-04-2013
0

Re: Denied denied denied, why why why

[ Edited ]

Tryed pacific marine and navy fed, but im thinking of re-apllying and asking for less, i already asked pmcu for $10,000 and they said no and ive been with them for 4 years...... 

 

**bleep**... I dont get it? What is hurting me so bad that i cant even get a 10k auto loan? 

.... This erks me, ive been saving up 4 grand for awhile. 

Frequent Contributor
Mike360
Posts: 433
Registered: ‎03-19-2010
0

Re: Denied denied denied, why why why

[ Edited ]

Collections and lack of credit in good standings is my guess. Time on current job probably also but not as much. I've been told in my past experience they like to see atleast a year.

~~In my wallet: Best Buy $7500, Dell Preferred $5500, Discover IT $4000, Chase Freedom $3500, Barclays NFL Extra Points $3300, Sears $2800, Bill Me Later $2100, CapOne Platinum $2000, Kohls $1500, Target $200
New Member
Banin0351
Posts: 10
Registered: ‎02-04-2013
0

Re: Denied denied denied, why why why

so, do you guys think any one will approve me for a $7k loan? and not a buy here pay here?

Established Contributor
electra
Posts: 573
Registered: ‎10-21-2012
0

Re: Denied denied denied, why why why

What reason did Navy Fed give for not approving the loan?



Starting Score: TU:584 | EQ 584
Current Score: TU FICO: 711 | EQ FICO 713 | EX (USAA FAKO) 779
Goal Score: 780 across the board


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New Member
Banin0351
Posts: 10
Registered: ‎02-04-2013
0

Re: Denied denied denied, why why why

[ Edited ]

I got approved for an 8k loan by common wealth cu over in san jose, ca 

 

now, i dont understand what this means ?

 

Is security, the car im buying or the car i already have?  My take on the explanation is that since they gave you a free and clear title, you can improve your loan chance if you put the vehicile you are buying as a security? 

 

Amount Requested:

 

$


Security:
Example: For Auto, Boat, Motorcycle or RV list Year, Make and Model

 


Value of Security:
$
*** The actual loan term will be based on loan amount, age of collateral, and collateral value
 
 
 
 

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https://www.commonwealthcu.org/?Cabinet=MAIN&Drawer=Borrow&Folder=Autos&SubFolder=Autos&page_name=Au...
 
 
 

 

New Member
Banin0351
Posts: 10
Registered: ‎02-04-2013
0

Re: Denied denied denied, why why why

Navy fed said, dti, not enough good standing credit history, and to many collections... 

Established Member
cwpeak
Posts: 21
Registered: ‎12-02-2012
0

Re: Denied denied denied, why why why

 

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