 Credit card debt! please advice.....? |
| So basically I have 2 maxed out credit cards. One of 2,000 and the other 500. I'm a really broke college student. The little money I make I need it for food, shelter, supplies etc. That's ... |
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 Is it possible to buy a home with really BAD credit? |
| My husband and I have really bad credit. We both were in previous marriages and that is were it all started. He has a foreclosure on his credit report because his ex decided she wanted to keep the ... |
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 Can debt collection agencies impose deadlines on repayment? |
Hi,
I've just been contacted by a trace and collection agency, who reckon I owe an electricity bill from 5 years ago! Madness!
Anyway, do they have a legal right to impose ... |
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 Are debt collectors allowed to call your work? |
| I tell them go away I'm at work and youre keeping me from making money, but they think they can keep calling me at my office.... |
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 How bad is it on my part if i continue to pay my mortgage late? |
| I have up to 15 days every month to pay, but i sometimes pay after . I don't mind paying the late fees, it's not an issue. How about credit wise (there is nothing that i can do right now to ... |
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 What is the worst case senario if my car payment is late? |
say 2 weeks late?
Additional Details
im kind of embarrased to call and tell them it will be that late. i ran into a difficulty this month and something more urgent came up. i was trying ... |
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 Can a cell phone or cable bill late payment affect your credit? |
hello,
I have a ton a bills and i forgot to pay my cell phone and cable bill on time. They were only 5-10 days late. i know when you are late with a credit card the day after it, its on your ... |
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 How can colletion agencies buy out you debt and keep it on your credit report? |
| Why is this possible. It's like it will never go away. A 10 year old debt came back from the dead recently. It is crazy. 10 years ago. I'd like to move on with my life now and just when you ... |
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 How do you spell budget? |
| like i'm on a tight ... |
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 I have a quick question about a credit card? |
| ok, lets say you have a credit card with 500 dollars on it, then you spend 100 dollars, you pay back the whole 100 dollars to the credit card company....so do you have the 100 dollars back in your ... |
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 Just filed bankruptcy, when will my credit be better? |
| hello, I just filed for bankruptcy oct 25th, i haven't received my discharge yet , but will be very soon. I was wondering, how long will it take before my credit gets good enough to maybe get a ... |
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 Credit card question... Please read. I'm confused? |
My credit line is 200.. So my bill will be about $20-30. But Interest is 24 %... So will I have to pay Alot more?
It's my first credit card
Also, If I pay in full- Will I ... |
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 Is it possible to go from a near perfect credit score to ZERO in one months time? Cause it happened to us.? |
| My boyfriend has established excellent credit from a young age, he currently has no credit cards. We've been house hunting for YEARS and we are finally close to closing on one, been working with ... |
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 Im only 21 and have bad credit can i get a loan? |
| i have been trying to get a loan for about 7000 but it seems impossable is it?? i messed up bad got into debt to fast is there any place that offers loans with a 498 score or should i give up looking?... |
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| Finance/credit question? |
| I needed a co-signer when I bought my car because my credit wasn’t strong enough. After I bought the car I got laid off and got into debt. My score was like a 580. I just paid off 2 credit cards ... |
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 Would it be a good idea to take out a personal loan to pay off high interest credit card debt? |
| I think Im getting charged about 8.99% intrest on my credit card. What kind of interest would their be for a personal loan? Would that be worth it?... |
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jesse b | Can I get a used car loan? |
I just turned 18 last week. I have been driving a 1988 Ford Escort for a year and a half. I paid $500 for this car so I am not sure if it is even applicaple for a trade in. I think it is time to upgrade before i get stuck on the side of the road. I would like to purchase a 1999-2000 Jeep Cherokee. This vehicle cost about $7000. I would be able to put down $1500 for a down payment. The problem that i keep encountering is my work history. I have had the same job for 1 year and 8 months most lenders expect you to have a job for at least 2 years. I am not sure if i Can get a loan or not. I have tried credit unions a couple of weeks ago and they said i have to wait until i am 18, so now i am 18 and am applying again. Do you think my credit score would be a factor? I am not sure what it is because i am young. Any Comments would be greatly appreciated.
Additional Details
I would be able to make the payments. I have a decent job, I make $1000 a month and I do not have to pay rent or anyting like that. The only thing that I do pay is a cell phone bill. Thank you for the speedy response |
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SCH
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You may not be able to without a cosigner becaue you don't have establised credit yet. The bigger problem is that you will most likely not be able to get a loan for 7k on a 8 year old car...if you do the interest rate woud be much higher than getting a newer car. The factor to take into account is that the longest loan term you could get for an 8 year old car is 2 or maybe 3 years...so you are looking at a payment of probably $200/month (for a 36 month loan at 9% apy...which is probably low considering no credit history) can you afford that?
You need to do more research and try to find a newer vehicle (I am not saying brand new because they depriciate 40% after you drive off the lot and you are then upside down in the loan).
PS $1000/month means you can only afford about $150/month for a car payment. |
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fdm215
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Probably not. You don't have an established credit history...7,000 dollars is a large amount for first loan. Is it likely that you can make the payments on such a loan?
Why don't you try for a less expensive car? Something for 3k or 4k should still get you a decent vehicle. Before you agree to buy it make sure you can have it inspected by the automechanic of your choice. |
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Frank
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Hi
well you can get really good cheap cars from auctions , you will find thousands of different auction and repo cars of all kinds of models really cheap at http://www.carauctiondeals.com
Hope this helps |
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twv85171234
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Try E-loan, they finance auto loans for people in your situation. |
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Jeff G
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for a car loan, I'd guess your credit score would be a bigger factor than work history (but its only a guess).
by federal law, the credit reporting agencies have to provide one free credit report per year. you should check with them to see what your credit score is. 700+ should be okay to get you a loan on good terms (shop around), 750+ should get you a very good rate.
in my opinion, though, you shouldnt drop $7k on a car loan if youre 18. you'll be paying off that loan when you are ready to sell your car. save those payments for a few monts, and buy yourself something more reliable than your escort. |
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