Hi all I am helping my friend fix his credit. He is in the high 500s and has some settled for less and has had a car repo which was settled for less. He has a business and a business account as well and needs a truck for personal and business use.
I told him with his poor credit score and repo that currently he will have a tough time qualifying for a car loan. He asked about a buy here pay here type of place but I think his best bet is to get a good co-signor until we can fix his credit; then we can refinance him through a credit union in about a year to get a good rate.
Can you guyse advise me on this as I really want to help him.
Thanks everyone!
Starting Score April 2013: 556
You can help him fix his credit but dont get involved with loans and CCs going forward. Let him get his truck in any way he deems necessary arguing is only going to put the friendship in jeopardy. This is why I dont help anyone who is not my family anymore.
