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We need help!! We got ROYALLY screwed on a car loan in February. VERY high interest rate. My scores are low Smiley Sad TU 570 (will not budge) EX 611 and EQ 612 (these 2 are slowly moving up). My husband had some discrepancies on his credit that have been taken care of ... a false public record and an auto loan balance that was showing (same auto loan showing as bk on my credit report, my DH filed BK, but the loan wasn't filed against, was paid in full, shows no ref to BK on his CR), that was actually paid off. His scores are now actually closer to 650. Do you think we could refi with a lower rate this soon? I make almost double his income, so sadly, I think I would have to be on the loan. He is a member of Navy Federal, but hasn't used them for many years.
Message 1 of 6

Re: Refi?

How long ago did your clear up the discrepancies on CRs and are they reflecting the updates?Did you get the car note updated to $0 balance/paid as agreed? How long ago was your BK? What is your current interest rate? Have you check your LTV? Who are you financed with now and current rate? Why haven't you tried NFCU if your DH is member, are you on the account? To use your scores & income you would have to be on the account also.

Message Edited by mce on 07-22-2008 09:43 AM
Message 2 of 6

Re: Refi?

We just barely cleared up TU for him w/in the last month because for some reason he's not able to access his TU online?? So we had to do it through the mail. The auto lender will not remove the BK status from my Credit Report because they say we don't get to "pick and choose" what goes on the BK. Funny how it was his BK, and yes, now it shows 0 bal always paid as agrees for him, mine says 0 Balance, always paid as agrees included in BK??? His BK was 2006. I believe the current interest rate is 16.5 Smiley Sad Retail value of the car is 24,095 and I owe 25,000. We are financed thru Nuvell? Never heard of them until the dirtbags at the dealership set up the loan. I asked my DH yesterday why he hasn't been using NF and he didn't have an answer, we just get his statement in the mail every month with a silly near to zero balance. I am not on the account, as it has not been used since we've been married.

Message Edited by turboturtle321 on 07-22-2008 09:53 AM
Message 3 of 6

Re: Refi?

Should we be using NFCU as our primary bank? Even though they don't have any locations in our state?

Message Edited by turboturtle321 on 07-22-2008 09:59 AM
Message 4 of 6
Regular Contributor

Re: Refi?

As long as he filed a Chapter 7 Bk you both should be fine. The dept is basically forgiven and even thought it shows on your report it is basically dept forgiven. I would advice you to do 2 things, contact the 3 reporting agencies with proof that the car was your husbands but if you're on his loan you're liable. If you're not on his loan show proof or contact a lawyer to plead you case. Even if the loan was paid in full after a bk and both of you were on the loan it will show on your report also. The best advice is to move on, pay all bills on time and soon you'll notice that this has no effect on your lives in time. The best of luck and don't let this stiffle you lives.

Message Edited by RichRaven on 07-23-2008 12:12 AM

Message Edited by RichRaven on 07-23-2008 12:13 AM

Message Edited by RichRaven on 07-23-2008 12:14 AM

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Message 5 of 6
New Member

Re: Refi?

Refi through Christian Community Credit Union. Google them. They would probably give you a 6% joint, but at the very worst refi your husband by himself down to 10%. Try it
Message 6 of 6
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