@corymcd88 wrote:I got a denial letter and one of the reasons was "Proportion of loan balances to loan amounts is to high" and " Time since derogatory public record or collection is too short." First I have a car loan with $5,500 balance and one personal loan $427 balance, does thatmean installment loans or CC ass well. My collection / CO, Collection was payed in Apr 2012, and the CO was payed in Jul 2013. Is that because I paid the CO on Jul 2013. Did that change thing on my file?
Installment loans and its not the real reason for denial. On a site that gives me free FICO every month under why score is lowered is this saying for my installment loan and it says it all the way to a 0 balance before switching to "no recent installment loan experience on file".. Disregard it. Time since is saying that you have a recent credit problem and they want it further back in your history, again this is not the main reason either.. Yes its most likely to the DOLA updating to the then current date...
