WEBBANK charge off question

[Tinkerbell319]

Ok, I've been trying to get a loan through avant and prosper for the longest. I have over a 700 credit score, and just got some inquiries removed. So I know there's no reason why I should be getting denied. And I just realized that I owe FingerHut, which uses WEBBANK and Avant and Prosper both use WebBank. It's on my Equifax report only, but it's been so long ago I forgot all about it. I owe like $300. Therefore, that explains my denials. Propser says "too many recent inquiries"... but I got all of my inquiries removed from transunion and really have about 3 recent ones from 5 months ago. 

I will be paying off Fingerhut WEBBANK this week. And I just wanted to know how long will it take for me to be back in good standing with WebBank?

[Remedios]

How long is really lender and profile specific.

Also, personal loans are notoriously more difficult to qualify for under good terms than credit cards. 

Your score is just one piece of puzzle. 

If your current utilization is high, or have derogs, loan terms (if approved) become worse.

In "credit time", 5 months is very recent. So, your three inquiries  may be a lot when looking for a loan. 

Is the loan for CC debt consolidation? What does your DTI look like? 

[Tinkerbell319]

Well, you're right... My credit cards were maxed out at the time of applying. My current revolving debt is $2000, I will be getting that down by 90% by the next time I apply. I have a $25,000 car loan, on time payments since January 2019. I have NO Collections, except for that one with fingerhut and that only reflects on EQUIFAX only it's 3 years old. NO LATES - I'm paying fingerhut off this week and will go to the extreme for a PFD from Finger hut. 

My DTI is 34% 

[Remedios]

@Tinkerbell319   I think once your utilization is down, you'll have easier time 

Are you looking specifically for EQ puller or does that even matter?  

The reason I am asking is a local (or any) credit union may be another option for you. 

I would explore that route, too

[Tinkerbell319]

@remedios

No I’m not looking for anyone to pull EQ because honestly that’s my lowest score being that 1 collection from Fingerhut is still lingering.

However, I forgot to mention that I do have a credit union loan for $500 2 months ago! I forgot all about this. But I don’t think I’ll be able to qualify for $4000 within 2-3 months.

But I am working to get that credit debt down and see what happens