Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
Re: Auto Loan after 2 Charge Offs that are 3 years old. 607 FICO

I think a loan is possible. The rate will be higher compared to those baddie-free, and I bet it'll be somewhere in the mid-double digits. I'd aim for a CU for a better rate.

 

If I had that, I would PIF the CCs first. Paying won't help the CO any, but it will improve util and that'll increase your FICO scores. It'll also lower the DTI and that will also improve your odds.