Really not sure what to do.

millie106 · 04-02-2006, 03:50 AM

Any help would be greatly appreciated!

My 7 was discharged in 2-05. I have repeatedly checked my credit reports and have found one that still contains an error on an open collection for 3100.00 and just sent off the 3rd round of registered letters to get this corrected, hopefully!

I have 2 unsecured credit cards, 200 and 300 limits that are not maxed and have always paid off each month. These do show up correctly. I also have a 5200.00 student loan that shows correctly as paid as agreed. I have no other debt. I have also paid my utility bills on time. My cell phone is a regular contract (not pay as I go) and I have had it since 2-04 and it's in great standing and never has been reported to any bureau.

But I cannot get financing anywhere. My income is high enough where I can comfortably afford to make payments. I do have a repossession from the 7. But before that I had bought and financed 4 cars and had each one paid as expected--not even 30 days late once. When I just looked at my reports again the repossession is not showing anymore. Just stating that that the car financed was included in the 7.

I can't get financing on ANYTHING--not a department store card, not a thing.

Any ideas what I am missing here, what I am doing wrong, etc?!

Thank you!

FilingOnMyOwn · 04-02-2006, 04:22 AM

Many dealers offer bk and bad credit friendly financing at ridiculous rates. You are not going to find a good rate with your credit just yet. See if you can find a co-signer, or just buy older cars cash, with the money you would have wasted on a down payment for rip off cars.

millie106 · 04-02-2006, 06:14 AM

I have tried one dealership and was told they couldn't help me either. I wasn't looking for a great or even good rate but my discharge was over 1 year ago and I have had nothing but small positives since then. I keep reading about all of these people that buy houses, etc and I can't even get a Target card!

I don't want to go into debt here--I declared over major medical without health insurance and no credit cards were involved. So I may just have to go with the really used car with the down payment I have.

FilingOnMyOwn · 04-02-2006, 09:38 PM

Used with cash is the way to go. I think just about everyone has been in the situation where they are making payments on a car that is out of factory warranty. So on top of the car payment, insurance, and fuel, they are paying maintenance and repairs! I hated that I'll never do it again.

SinkingFast · 04-04-2006, 07:53 PM

Folks,.......... He's over a year out of BK. February, 2005. With other good comments on other unsecured lines of credit.

My guess,........... It's probably the unresolved bad comment in your credit history causing the problem. A $3100 OPEN collection does not bode well for getting new credit.

Are you disputing that with the Creditor or the CRA's?? Go direct to the CRA's. If you dispute with them they are obligated to open an investigation.

How aweful for you that it's taking over a year to get this resolved.

You might need to send the CRA's copies of your BK paperwork showing that debt as discharged in your BK. Save that as a last resort tho.

04-02-2006, 03:50 AM	#1
millie106 Registered User Join Date: Apr 2006 Posts: 2	Really not sure what to do. Any help would be greatly appreciated! My 7 was discharged in 2-05. I have repeatedly checked my credit reports and have found one that still contains an error on an open collection for 3100.00 and just sent off the 3rd round of registered letters to get this corrected, hopefully! I have 2 unsecured credit cards, 200 and 300 limits that are not maxed and have always paid off each month. These do show up correctly. I also have a 5200.00 student loan that shows correctly as paid as agreed. I have no other debt. I have also paid my utility bills on time. My cell phone is a regular contract (not pay as I go) and I have had it since 2-04 and it's in great standing and never has been reported to any bureau. But I cannot get financing anywhere. My income is high enough where I can comfortably afford to make payments. I do have a repossession from the 7. But before that I had bought and financed 4 cars and had each one paid as expected--not even 30 days late once. When I just looked at my reports again the repossession is not showing anymore. Just stating that that the car financed was included in the 7. I can't get financing on ANYTHING--not a department store card, not a thing. Any ideas what I am missing here, what I am doing wrong, etc?! Thank you!
millie106 Registered User Join Date: Apr 2006 Posts: 2

04-02-2006, 06:14 AM	#3
millie106 Registered User Join Date: Apr 2006 Posts: 2	Thanks... I have tried one dealership and was told they couldn't help me either. I wasn't looking for a great or even good rate but my discharge was over 1 year ago and I have had nothing but small positives since then. I keep reading about all of these people that buy houses, etc and I can't even get a Target card! I don't want to go into debt here--I declared over major medical without health insurance and no credit cards were involved. So I may just have to go with the really used car with the down payment I have.
millie106 Registered User Join Date: Apr 2006 Posts: 2

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04-02-2006, 04:22 AM	#2
FilingOnMyOwn Registered User B/F Guru Join Date: Oct 2005 Posts: 1,793	Many dealers offer bk and bad credit friendly financing at ridiculous rates. You are not going to find a good rate with your credit just yet. See if you can find a co-signer, or just buy older cars cash, with the money you would have wasted on a down payment for rip off cars.

04-02-2006, 09:38 PM	#4
FilingOnMyOwn Registered User B/F Guru Join Date: Oct 2005 Posts: 1,793	Used with cash is the way to go. I think just about everyone has been in the situation where they are making payments on a car that is out of factory warranty. So on top of the car payment, insurance, and fuel, they are paying maintenance and repairs! I hated that I'll never do it again.

04-04-2006, 07:53 PM	#5
SinkingFast Registered User B/F Guru Join Date: Jan 2006 Posts: 6,857	Folks,.......... He's over a year out of BK. February, 2005. With other good comments on other unsecured lines of credit. My guess,........... It's probably the unresolved bad comment in your credit history causing the problem. A $3100 OPEN collection does not bode well for getting new credit. Are you disputing that with the Creditor or the CRA's?? Go direct to the CRA's. If you dispute with them they are obligated to open an investigation. How aweful for you that it's taking over a year to get this resolved. You might need to send the CRA's copies of your BK paperwork showing that debt as discharged in your BK. Save that as a last resort tho.