Amanda B
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Please, please, please don't do that to yourself. You will be paying in upwards of 3x's the brand new value of that truck. That doesn't include depreciation. Most times you will be hit with fees if you refinance before 24 months. So you'll be paying 4x's the principal in interst each month for two years... If you can give it a few months go this route:
You can find more info here:
http://debt.123thebest.info/credit_card.html
Good Luck. |
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imsoverygood
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If you have 10k in debt unless you have a really good job I don't think it is a good idea to buy that truck.
It might be a better idea if you get a cheaper vehicle for now save and pay off that debt and get that credit score up so you can get lower payments.
As for your question the answer is probably yes, however it might take more than 6 months. |
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seekinganswers36
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Sounds like you are on the correct track.
You have obtained the report and started disputing incorrect items. These are the first two steps.
You will then need to start paying and making arrangements to pay those bills that are yours and get them settled.
Then get a credit card, charge small amounts (keep balance under 10%) and pay the card in full each month.
These actions should raise your credit score. |
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ruthietoothie1972
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My only advice here would be not to buy that new truck at 23% on 24,000......I think the mob may charge you less. If you have things on your report that you don't think are yours...you need to dispute them with the credit reporting agency. The next thing you will want to do is pay down your debt and if you have a truck payment like I think your going to have it is going to be almost impossible. Good luck..... |
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mycredit wealth,com
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I thought 18% was the highes rate they could charge? |
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Abc D
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First of all, do NOT get that new truck until you get your credit cleaned up because you are unlikely to get it refinanced with this score in 6 months with so many errors and negatives in your credit report!! I used Lexington Law Firm to help me get my credit cleaned up and I do recommend them. It will take a year so be patient and stay actively involved in your case like Lexington wants you to.
Open a credit card even if you have to apply for a secured card and begin building your credit history with on time payments and regular use of your card. After about 6 months open another one and do the same thing.
Read this article on ezine because it is a good one and your almost in the same position of someone who has declared bankruptcy at this point. Plenty of errors and negatives in your report and little credit history. Trying to build your credit back up with a car purchase is not a good idea or very practical. A new car or truck will depreciate by 60% over a 48 month period and at 23% interest, your going to end up owing more on it than it's worth!! |
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Crazyjester9
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First, you need to hold off on getting that truck and fix the credit that you do have.
You say you have about 10,000 in debt but you can only account for about half of it? That's a BIG problem but luckily its somewhat easy to fix.
You need to dispute EVERY negative item on your credit report. File the dispute with the credit bureaus. At the same time take the collection agencies that hold your debt and same them demand to validate letters. Make sure they can prove you legally owe that debt and can collect from you.
The ones that are yours and come back validated, work on settlement offers that include a pay to delete agreement.
After you've done that your score should be quite a bit better, then you can think about financing that truck.
Here are some links for you to read.
This one is abot debt validation.
http://www.creditinfocenter.com/rebuild/debt_validation.shtml
Good link on debt settlement.
http://www.creditinfocenter.com/debt/settle_debts.shtml |
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M K
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You can try to apply either for an Orchard Bank credit card or First Premier. At least you can start building new positive history. The one with your mother's social will probably be the easiest to remove. I had my Dad's Sears card on my report and they removed it. The other things all depend on the situation.
http://www.creditfast.com |
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