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Paying someone's car payment w/ my checks

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    Paying someone's car payment w/ my checks

    If I pay for someone's car payments to a dealer's financing company using my cbhecking account and paying by check, can I somehow get the credit for it when it is paid off if I send in the check stubs to the credit bureaus? I know it is a long shot, but wouldn't that count somehow?
    Thanks, Candi
    P.S. I know I can go to the special financing department at some car dealerships but they will get the financing through some high interest financing companies not a bank.
    I have not established any credit yet, I did my own BK and it closed this past Mar. 3rd, and I was going to get a secured credit card and pay on it for 6 mo. or so to get some credit, I am trying to avoid the interest rates. Is there any other way to do this without trying to get financed with my name? I thought if he paid it off and put my name on the title with him as the leinholder maybe I could make the payments then and get the credit for it.

    Thanks Again.

    #2
    Nope - it's the original borrower's name and account # that matters - not who writes out the checks.
    The only way for you to get credit in regards to the car payment, is for the original borrower applying to refinance the car JOINTLY with you, which might or might not be approved because of your recent bankruptcy/lousy credit. And if you jointly do get approved be prepared for a loanshark level interest rate, and possibly higher monthly payments.

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      #3
      That is correct your payments will not be reported to the CRA's for making timely payments. Only the loan-account holder will get the postive/negative information reported to the CRA's.
      The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

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        #4
        try Capitalone blank check. google it or go to capitalone online. You might be surprised!!! If you have a good income you might also be surprised what you come up with a the car dealership. Also see the thread labled Chrisitian Community Credit Union. But they do want to see a positive history since your BK. I say Capital One Blank Check is your best bet right now. You can also go to lendningtree.com and it will do a bunch of them for you at once. Good luck and keep us posted.
        Chapter 7 Pro Se....Discharged Feb. 2006

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