Honda Transunion

[Anonymous]

So I went to Honda to see if I qualified for financing -

I thought Honda used Experian which states I am at 713 , but honda says 680

I later find out the honda uses Transunion honda says i'm at 590 and TU says 613

This is because there is a collections account on my credit report for TU (not on experian) ,

I called the collections agent to see what this was for, was never aware of this, regarding a 

medical bill, they tried locating the account via SSN/Acct # "located on credit report",they found

something but the birthday and address did not match, when I asked them what was it for they

immediatly apologized and advised me to fax in my Drivers Lic/ SSN Card / Credit Report so that

they can correct this with TU and remove the delinquincy. 

I've been talking to the Salesman at Honda, he wants me to get approved, but this collections has

put a lot of weight on the determination, he said if I faxed evidence of working this out it may be in my 

best interest.

So I faxed him a copy of the documentation that I Sent the collections agent, with the confirmation sheet,

I want to get a letter from the Collections Agent ASAP saying that this debt is incorrect and an error- how can I do this.

After going through all of this what are the chances of honda being able to approve the loan, under these circumstances?

The score should be a 630/640?

Help is appreciated!

[tsquad131]

i was just approved through a car loan through gte federal credit union and i asked the business manager what was my score when they pulled and my fico scores that i received from credit approvals were 740 but the dealer said that they use a different fico scoring model called auto risk score i think? and they said it is always lower than your real score and they also use beacon scoring model those models scored 690's for me

[cdtotten]

Honda pulls an auto-enhanced TU score, almost always. This is in addition to the score that your dealer pulls (you will have a minimum of 2 pulls).

[Booner72]

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@Anonymous wrote:

So I went to Honda to see if I qualified for financing -

I thought Honda used Experian which states I am at 713 , but honda says 680

I later find out the honda uses Transunion honda says i'm at 590 and TU says 613

This is because there is a collections account on my credit report for TU (not on experian) ,

I called the collections agent to see what this was for, was never aware of this, regarding a 

medical bill, they tried locating the account via SSN/Acct # "located on credit report",they found

something but the birthday and address did not match, when I asked them what was it for they

immediatly apologized and advised me to fax in my Drivers Lic/ SSN Card / Credit Report so that

they can correct this with TU and remove the delinquincy. 

I've been talking to the Salesman at Honda, he wants me to get approved, but this collections has

put a lot of weight on the determination, he said if I faxed evidence of working this out it may be in my 

best interest.

So I faxed him a copy of the documentation that I Sent the collections agent, with the confirmation sheet,

I want to get a letter from the Collections Agent ASAP saying that this debt is incorrect and an error- how can I do this.

After going through all of this what are the chances of honda being able to approve the loan, under these circumstances?

The score should be a 630/640?

Help is appreciated!

---

Hello.  So they agreed to delete the account?  Are you sure?  It sounds like they don't know what this collection is even for and it sounds like if you disputed it, it would get deleted.  I worry that if you send them information, you are only providing them what they need to validate this acct and keep it on your reports.

Head on over to the REBUILDING section and do some reading.  You should NOT send them this information.  You should send them a Debt Validation letter, that forces them to either validiate it or remove it.  Don't give them the info they need to screw you over.

Good Luck!

[meka1984]

Try and get the collection removed ASAP. I was financed through Honda with 0 collections on my TU report. They will work with you. Ask the finance manager also if he can move you into a different credit tier. 

Trust me this can be done. This happened to me almost 2 months ago when I signed the papers on my Accord. 

PM me on the side if you have any questions. 

[Anonymous]

^ sorry the sn locked up on me had to create this one...

Good news 

The Collections account was deleted as of yesterday.

 The TU Score is now 663 , so in Hondas eyes it should reflect a 640. 

  Will this be an acceptable score for Honda?

Thanks!

[Booner72]

Congrats on getting the collection removed!

You can call the finance manager and ask or just go down there.  Good Luck!  Don't worry about the inquiries.  FICO lets you "rate shop" so 100 inquiries within 14-30 day window is only counted as one (100 being an exageration here).  Those inquiries LOOK ugly but don't ding.

Every time I have gotten a SW alert for new inquiry, the score stays the same.  I was told that FICO dings for inquiries after the "rate shopping" window is over.

I say 14 to 30 days bc it varies depending on which score.