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Impossible refi

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Valued Contributor

Re: Impossible refi

Taking on more debt is a silly solution to dealing with existing debt.


You are going to spend a lot of unnecessary money buying a new car and be in more debt and for longer . . period. 

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU Cash Rewards/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder AMEX/Citi Costco Visa - $96k total revolving
EQ/EX/TU: FICO 8's November 2019: 696/679/668, 14% utilization, AZE2 (w/ those 2 cards reporting 30% util), INQ's: 4/2/1
Message 11 of 14
Established Contributor

Re: Impossible refi

 OP where did you try to refi?


 Consumers Credit Union has very few restrictions -


 I would refi that way your payoff quote will be much lower. I carried $1200 of negative into my Focus ST, big deal I didn't notice it and I'll say it one more time was not what led to my bankrupcty.

Message 12 of 14
Valued Member

Re: Impossible refi

What other debt do you have? Balances, percentages, minimums etc.. where are you scores at? I only ask because I'm curious about what else you could do to boost your score while you wait a year to refi the new car if you do end up going that route?

Message 13 of 14
Community Leader
Senior Contributor

Re: Impossible refi

@FMC, if you were over limits six months ago, it might as well have been this morning. Transgressions like that will easily limit you with respect to additional cards, CLIs, loans, or any other lines of credit with a lender for two years or more. If I’m wrong here I apologize, but your post seemed kind of flippant but the banks aren’t playing. Anything less than following their rules and expectations and limitations 100% of the time will be held against you regarding the lines you currently hold.

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5/24, 1/24, 76445/24, who cares #HappyWithAmex

Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 14 of 14
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