Repair Credit Score

Archive for October, 2007

Question: how do I get approved for a car loan without a co-signer?

I'm 23 and reside in Ontario, I want to finance a 2006 BMW 3 series pre-owned. My Credit Score is 655 last time I checked 6 months back. But i'll be applying for a loan in around 6 months, majority of my debt will be gone by then, so my Credit Score should rise. I've been working at the same place for more than 3 years. Now for 4 months I've been a manager because I recently got promoted.
I'm making around 35-40K a year since I'm on salary/commission, and have no one to co-sign me, will I get approved?

Answer: Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool - carquotes.sinfree.net

Etobicoke Mortgage Broker expains about your Credit Score

Under the Fair Credit Reporting Act or FCRA, consumers have the right to dispute any items on their Credit Report. But, not every consumer know how to dispute Credit Report. In fact, most people think it is too much trouble to dispute Credit Report even if they know roughly how to dispute Credit Report, how to write the Credit Report dispute letter or how to fill out the Credit Report dispute form. Below is a guide on how to dispute Credit Report.

How to dispute Credit Report 101

In order to dispute Credit Report items, you need to obtain your Credit Report and analyze it for items that you want to dispute. Among items people usually dispute are inaccurate items, incomplete items and obsolete items. If there is anything wrong with an item in the credit report, you have the right to dispute the entire item. For example, if you owe $500 but it says in your credit report that you owe $600, then you can dispute the entire account. That will temporarily improve your credit and Credit Score.

After you have established that your credit report is disputable, then you need to send the credit bureau a credit report dispute form. A copy of the credit report dispute form should be sent with a copy of your credit report. If you don't have the credit report dispute form or don't want to use one, you can just write a credit report dispute letter to the credit bureau disputing the particular items on your credit report.

When sending a credit report dispute letter or a credit report dispute form, you need to be very clear on what you are disputing. You need to include any account numbers in the credit report that contain the errors as well as the creditor's name and reasons why you are disputing the credit report item.

When to send a follow up credit report dispute form or credit report dispute letter

After mailing the first credit report dispute form or credit report dispute letter, you need to send a follow up letter if you have not heard back from the credit bureau within 6 weeks. It could be that the credit bureau lost your credit report dispute letter or form the first time. If not, they may still be investigating your dispute. Most credit bureaus will notify you of the results of the credit report dispute investigation and send you an updated copy of your credit report amended.

Remember to keep all the correspondence with the credit bureaus on file. Make copies of everything.

Question: can a person get a mortgage loan with a Credit Score of 650? If so where?

I have had credit trouble in the past. I am now trying to rebuild. I am finding it hard to get a mortgage loan or a major credit card. I have read stories about people getting loans with credit scores lower than mine. I found National City bank on a web site with stephen's life after bankruptcy newsletter. Where are people getting these loans, with low credit scores. I live in Alabama. I can't get a bank loan. I am not in bankruptcy. Please tell me the names of the mortgage companies that can work with me. I have read stories where people Credit Score is in the 500's. They are buying cars and homes right after they file bankrupt. Thank you

Answer: http://www.deltafunding.com

Delta Financial focuses on lending to individuals who generally do not satisfy the conventional mortgage guidelines established by Fannie Mae or Freddie Mac. The Company makes loans to these borrowers primarily for debt consolidation, refinancing, education and home improvement, where cash-out/debt consolidation consists of approximately 85 percent of Delta's business.

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