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@ChicAndFabulous wrote:
I applied for an auto loan with a local credit union. They originally told me I was approved at 3.15% for 75 months for $40k loan. Once they entered my social in their system, they saw I had an old charge off from 2007 from a credit card. I completely forgot about this old charge off, as it's not on my credit report and they haven't tried to collect in years. Loan officer said it's the only thing that's holding up the loan and to call the asset management number to see if they could wipe it off. Ha. Doubt it will be that easy. Anyone ever run into this? Suggestions? This credit union is giving me the best rate, so would love to be able to make this work somehow.
Congratulations on your approval!!
The chargeoff - was it with THAT particular CU? If it was, while there is a SOL on age for credit reporting, there is no SOL for an internal file with that particular bank.. Some banks, like Chase, for example, have memories like an elephant.. (and, apparently, they will hold a grudge against you if you had a bad WaMu account as well)