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Ford Motor Credit

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Regular Contributor

Re: Ford Motor Credit

I agree, "BK Friendly" is one of those YMMV situation. I consider a creditor "BK Friendly" if they will approve anybody that has filed for BK BUT it does not guarentee approval.


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


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Message 11 of 19
New Contributor

Re: Ford Motor Credit

+ 1

Message 12 of 19
Member

Re: Ford Motor Credit

" Indecision was approved one month out of BK, I would say that is pretty friendly, wouldn't you?"       No, I would not say thats friendly. His BK was TWO years ago, gimmie a break dude. Had he been approved for that loan less than a year out of BK I would agree but anyone can pretty much obtain an auto loan 2 years post BK. To the member that asked about my BK, I have been out of it for 6 months with 2 credit cards currently paid off each month. My credit score initially went up after the BK but being denied auto loans has dropped my score approx 100 points and the inquiries are hurting me.

My list of non BK friendly auto loan lenders: Ford,Toyota,Nissan,Kia,Chase,Santander/roadloans,Americredit,Wells Fargo,BofA,Orange co Credit union,TD auto

Message 13 of 19
Community Leader
Senior Contributor

Re: Ford Motor Credit


VegasTeo702 wrote:

" Indecision was approved one month out of BK, I would say that is pretty friendly, wouldn't you?"       No, I would not say thats friendly. His BK was TWO years ago, gimmie a break dude. Had he been approved for that loan less than a year out of BK I would agree but anyone can pretty much obtain an auto loan 2 years post BK. To the member that asked about my BK, I have been out of it for 6 months with 2 credit cards currently paid off each month. My credit score initially went up after the BK but being denied auto loans has dropped my score approx 100 points and the inquiries are hurting me.


"Just wanted to report if it had not been reported already that Ford Motor Credit is BK friendly. I was discharged in June but I was able to qualify for 3.9% financing! You can see my scores from below but they reported my EX at 692!!! I will take it."

 


When he said "discharged in June" I guess I made a mistake thinking June as in two months ago?? Break given if I was wrong...

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 14 of 19
Regular Contributor

Re: Ford Motor Credit

Yes, I was discharged June 2012

Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


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Message 15 of 19
Regular Contributor

Re: Ford Motor Credit

I also find it hard for your scores to drop 100 points with Inquires. You would have to app a lot to do that. It is my understanding that FICO scoring takes account when you have multiple auto Inq in the same time period. You are not dinged for each pull.

Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


Take the FICO Fitness Challenge
Message 16 of 19
Community Leader
Senior Contributor

Re: Ford Motor Credit


Comet21 wrote:
I also find it hard for your scores to drop 100 points with Inquires. You would have to app a lot to do that. It is my understanding that FICO scoring takes account when you have multiple auto Inq in the same time period. You are not dinged for each pull.

look period allows 30 days I belive 

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 17 of 19
New Visitor

Re: Ford Motor Credit

Hi I had some questions, please check your Pm I sent you.. Thanks
Message 18 of 19
New Visitor

Re: Ford Motor Credit

My family was just discharged from Chapter 13 bankruptcy (about 3 months ago).  I finally needed a car so I applied online for approval with FMC, I was turned down.  I contacted a dealer and explained my situation, telling him I wanted a base model Focus.  Well FMC and the dealer worked with my and my wife and we were approved for a 3 yeaer lease with little to no problem and under 1,000 down.  I was also told that in 6-12 months if my wife needs a lease it would be very easy to get approval.  So I would say that FMC is very understanding at least in my case.  I am thankful to FMC for giving me the oppurtunity to rebuild our credit.  From here on out I will by nothing but Ford.

Message 19 of 19