Credit Cards Center Credit cards from our partners
Reply
Regular Contributor
Posts: 205
Registered: ‎08-29-2007
0

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


Take the FICO Fitness Challenge
New Contributor
Posts: 57
Registered: ‎09-27-2011
0

Re: Ford Motor Credit

+ 1

Member
Posts: 8
Registered: ‎08-09-2012
0

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

Community Leader
Senior Contributor
Posts: 4,772
Registered: ‎07-12-2012
0

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
733 EQ FICO 11/2016
732 TU FICO 11/2016
732 EX FICO 11/2016
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $6.2k Cap1 Quicksilver | $10k Amazon Store | $14k Cap1 VentureOne | $7k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa
Regular Contributor
Posts: 205
Registered: ‎08-29-2007
0

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


Take the FICO Fitness Challenge
Regular Contributor
Posts: 205
Registered: ‎08-29-2007
0

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
Community Leader
Senior Contributor
Posts: 4,772
Registered: ‎07-12-2012
0

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
733 EQ FICO 11/2016
732 TU FICO 11/2016
732 EX FICO 11/2016
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $6.2k Cap1 Quicksilver | $10k Amazon Store | $14k Cap1 VentureOne | $7k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa
New Visitor
Posts: 1
Registered: ‎10-05-2013
0

Re: Ford Motor Credit

Hi I had some questions, please check your Pm I sent you.. Thanks
New Visitor
Posts: 1
Registered: ‎04-20-2016
0

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.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.