Hi, new here and in process of rebuilding. Looking for car loan suggestions

[Anonymous]

Hi there,

Ive been a lurker for a while, but I am new to posting.  I have worked really hard the last year or so on rebuilding my credit.  Bad decisions, student loan debt, and loss of job really killed my credit. 4 year ago i was in the mid 450s!  Now i am proud to say i am in the 600s!  I was so excited when I actually was approved for a cc because it had been years!  I just have 3 credit cards, all opened within the last few months.  I have used them sparingly, and paid them off, and on time, so I currently have 0% credit utilization. I do have two baddies on my report.  They are both medical.  One is over 4 yrs old and the other is a year old.  Both total under $2000 and they refuse to remove them and i can't afford to pay them off right now. Below is my info.  My biggest issue right now is trying to get a car loan.  I have always bought used and paid up front, but now i am in need of a newer, more reliable vehicle.  Problem is that my credit is still not where i want it to be and my income is low.  I only work part time at the moment, so my monthly income is about $1500.00.  I do not though have any expenses.  My finace works and pays majority of the bills, while i pay for household items, kids things, food, etc.  I do not want to use a cosigner tho.  I am looking to purchase a 2011 ford escape for about $10,000. I can offer a trade in of my vehicle, but it probably wont be worth much.  I also dont have a lot to put down.  I am hoping to keep my payment $200 or under.  I dont want to be rejected and i dont even know where to start. This is all new to me.  I was told to try PenFed but, again, my income is not much, so I dont want to keep being rejected and my credit score go down. Thank you for any and all advice!

Current Credit Scores

Trans: 627

Equi:  647

Exper  611

I have $38,000 or so of student loans, but they are showing as paid on my report.  I do not owe anything.

3 Credit cards: Credit One, $450.00 credit limit, 0$ owed, no lates--opened in Jan 17

Capital One, $300 credit limit, $0 owed, paid on time, opened Dec 16

Kohls $300 credit limit, 0$ owed, opened in Nov 16

[Anonymous]

You should let your Capital One card report a balance of about $10. That will allow for higher scores.

Also, if you have $500 that you can play with for about a month, you can search the forum for the Shared Secured Loan process via Alliant. A reporting installment loan will give what most believe is about 30 point increases.

[Anonymous]

Hi,

Thank you for the advice.  I will look into this.

[Anonymous]

For the medical collections google the HIPAA Letter Process follow it exactly as laid out. If you have problems finding the website or any questions PM me.

[Anonymous]

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@Anonymous wrote:

Hi there,

Ive been a lurker for a while, but I am new to posting.  I have worked really hard the last year or so on rebuilding my credit.  Bad decisions, student loan debt, and loss of job really killed my credit. 4 year ago i was in the mid 450s!  Now i am proud to say i am in the 600s!  I was so excited when I actually was approved for a cc because it had been years!  I just have 3 credit cards, all opened within the last few months.  I have used them sparingly, and paid them off, and on time, so I currently have 0% credit utilization. I do have two baddies on my report.  They are both medical.  One is over 4 yrs old and the other is a year old.  Both total under $2000 and they refuse to remove them and i can't afford to pay them off right now. Below is my info.  My biggest issue right now is trying to get a car loan.  I have always bought used and paid up front, but now i am in need of a newer, more reliable vehicle.  Problem is that my credit is still not where i want it to be and my income is low.  I only work part time at the moment, so my monthly income is about $1500.00.  I do not though have any expenses.  My finace works and pays majority of the bills, while i pay for household items, kids things, food, etc.  I do not want to use a cosigner tho.  I am looking to purchase a 2011 ford escape for about $10,000. I can offer a trade in of my vehicle, but it probably wont be worth much.  I also dont have a lot to put down.  I am hoping to keep my payment $200 or under.  I dont want to be rejected and i dont even know where to start. This is all new to me.  I was told to try PenFed but, again, my income is not much, so I dont want to keep being rejected and my credit score go down. Thank you for any and all advice!

Current Credit Scores

Trans: 627

Equi:  647

Exper  611

I have $38,000 or so of student loans, but they are showing as paid on my report.  I do not owe anything.

3 Credit cards: Credit One, $450.00 credit limit, 0$ owed, no lates--opened in Jan 17

Capital One, $300 credit limit, $0 owed, paid on time, opened Dec 16

Kohls $300 credit limit, 0$ owed, opened in Nov 16

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Have you looked into possibly joining NFCU?  They pulled both EQ and TU which are your better scores.  There are many threads on the forum in regards to them being a lender willing to help someone with a less than perfect profile.  I joined them by making a donation to Navy League San Diego and it has to be the San Diego branch.  There is also several threads related to joining NFCU.  PM me if needing more information.  Good luck.