Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
Re: Consumer Finance Companies
[ Edited ]

Tuscani wrote:
These all fall under installment. The effect depends on your overall credit picture.

Oh I think I got it. It's not the loan. Not the bank. It is ANY loan that has the code or notation of "consumer finance" associated with it. It's not sub-prime notation, but consumer finance code. So generally the loans I take out may be from a Consumer Finance company but they don't have to negatively code it. And if the notation does not reflect consumer finance instead my have no notation or secured, something like that, I am safe.

Do I get it now? And to further understand this, even a "debt consolidation loan" if it did not have the code or notation for consumer finance instead it used the code for secured, ect. (which does not happen) then it would count positively.

And if this is correct.... When dealing with a sub-prime bank I need to get confirmation from the loan manager that it will not be noted consumer finance

How was all that? This one was a bit, very confusing.

Thank you in advance again... :-)

Message Edited by ilovepizza on 05-25-2007 10:20 PM
If we never set higher goals we would never get as far.
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