topic Re: DCU Denied in Auto Loans

DCU Denied

-Cal- — Mon, 21 Apr 2014 19:23:56 GMT

I was just denied DCU.

EQ FICO 692

I have 4 tax liens, 2 are old/paid state tax liens, and 2 are feds from last year (on payment plan).

They mentioned it was the combination of the 2 unpaid tax liens and 4 previous lates from an auto loan I co-signed on which is an error. I was never late on that loan and now trying to get the problem corrected.

I left a voicemail with a loan officer hoping they will help me out.

Any other good lenders?

Re: DCU Denied

nathan — Mon, 21 Apr 2014 19:13:38 GMT

Any reason why? Was it instant or after review? You may wanna give us more information in order for us to see where else you may apply.

Re: DCU Denied

-Cal- — Mon, 21 Apr 2014 19:19:10 GMT

I applied over the phone, the rep I spoke with went and talked with a loan officer after I filled out the app for about 5 minutes and came back with the denial.

Reason is mentioned in the original post.

What other information would be useful?

Monthly Gross is >= 20k

My DTI is 18%

Re: DCU Denied

nathan — Mon, 21 Apr 2014 20:00:08 GMT

If you are a member of navyfed or can get membership with them, try them.

Re: DCU Denied

-Cal- — Mon, 21 Apr 2014 20:02:44 GMT

thanks, unfortunately I'm not eligible for a navyfed membership.

Re: DCU Denied

Anonymous — Mon, 21 Apr 2014 20:31:37 GMT

@McMarshall wrote:
I was just denied DCU.

EQ FICO 692

I have 4 tax liens, 2 are old/paid state tax liens, and 2 are feds from last year (on payment plan).
They mentioned it was the combination of the 2 unpaid tax liens and 4 previous lates from an auto loan I co-signed on which is an error. I was never late on that loan and now trying to get the problem corrected.

I left a voicemail with a loan officer hoping they will help me out.

Any other good lenders?

The unpaid tax liens are going to rough. If you are in a payment plan, look into the IRS Fresh Start Program to get them withdrawn.

As for other lenders, carmax, roadloans might be alternatives.

Re: DCU Denied

Remember0 — Tue, 22 Apr 2014 00:12:05 GMT

Are the allegedly unpaid tax liens with the IRS or a state agency? Do NOT put any other details down here except "IRS" or "state."

As 09Lexie suggested, look into Fresh Start to get on a auto pay payment plan and get them removed.

Re: DCU Denied

-Cal- — Tue, 22 Apr 2014 00:29:52 GMT

They're IRS. I've been rapidly paying it down. It will take a couple of months to get it below their withdrawal limit. Thanks for the advice.

Re: DCU Denied

Remember0 — Tue, 22 Apr 2014 00:35:03 GMT

Gotcha! If you can hold off for a few months till the liens are withdrawan, I'd highly recommend doing so. But if not, as Lexie09 suggested, look into Carmax and Roadloans. You'd have the highest chances of approval there. You have to go to a Carmax to apply there, but you can apply for Roadloans online.

Re: DCU Denied

policebox — Tue, 22 Apr 2014 04:43:30 GMT

Things you can do now:

1) Work on getting the late pays on the car loan removed. If they are indeed inaccurate, then contact the creditor so they can fix it and/or dispute them with the CRAs as never having been late.

2) File a motion to have the two paid state tax liens vacated. If you can have them vacated, then they will be removed from your credit reports.

Re: DCU Denied

-Cal- — Tue, 22 Apr 2014 04:52:55 GMT

I would rather wait for the liens to be withdraw before going through Carmax or Roadloans.

I'm working on getting the lates removed.

I live in CA and I'm not sure if there is a way to have those vacated. If anyone knows, I'm all ears.

Thanks for your input.

Re: DCU Denied

Anonymous — Tue, 22 Apr 2014 05:34:38 GMT

@McMarshall wrote:
I would rather wait for the liens to be withdraw before going through Carmax or Roadloans.
I'm working on getting the lates removed.
I live in CA and I'm not sure if there is a way to have those vacated. If anyone knows, I'm all ears.

Thanks for your input.
CA does not have a mechanism to withdraw liens. However, if they were filed in error, try writing a GW letter