I am need of a car. My husband and I have been sharing a vehicle for the last 2 years. Friday my EQI was 722. Today I got an alert my score dropped to 676 because a medical collection appeared. I'm furious, I've worked so hard to rebuild and get into the 700 club. I was planning to get a vehicle in August. Do you think I still have a chance?
I only have 2 CC.
HSBC now CAP1. 8/300
these accounts have been paid on time for past 4 years. I have an unpaid Macys CO and now the unpaid medical bill. I also have a mortgage with 4 (30 day) lates that they will not budge on removing.
Will l have a chance on getting a nice pre-owned veh. I'm also trying to obtain without using my husbands income my income is 60k
Your score is good enough alone for most Credit Unions that go off that alone (mostly). In my experience, Medical collections are the easiest to negotiate for removal, so if it is possible to pay it, pay it. I don't see why you wouldn't be approved. You may not get below 5-7%, but you'll get approved.
You'll be fine. I'd start with DCU. If they pull a 675+ EQ FICO, you'll get 1.24% (with direct deposit) with them. Worst case if they pull just below, you'll still get like 4%.
And as far as that medical collection, attack it using whychat's method. To find the method google these four words: whychat hipaa program guide