 Can a collection agency buy my debt from a credit card company I owed over 12 years ago? |
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 How can I repair my credit? |
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 I am in the middle of filing chapter 7 bankrupt and need to get a car loan? |
| Does anyone have any ideas of who might approve us for a car loan when we are in the middle of a chapter 7. Most if not everyone say we need to wait until we are discharged. Thanks for the help.... |
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 Would it be a good idea for someone who has a recent BANKRUPTCY to apply for a car loan? |
| A friend declared Chapter 7 Bankruptcy last fall before the law change, and his debts were cleared and honestly I cant really say if it is a good idea or not for him to apply for a car loan as his ... |
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You hear all of these adds for Freecreditreport.com, but when I visit the site it looks like a scam; it is asking me for my credit card information.
Where can I visit a hassle-free site ... |
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| Just as people have applied at banks for unreasonable charges to be returned would I have a case in this instance. The £4.00 is 20% of the actual bill.... |
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| I am 19 years old and I am trying to establish credit but when I apply for a credit card I get denied because I don't have a credit history. What can I do?... |
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 Credit cards for people with bad credit? |
| What credit card company is the most leniant when it comes to giving people with past bad credit a new card?... |
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Steve G | Can i take over someones car loan without taking out a seperate loan? can i somehow switch the loan to my name |
the guy is still paying off his car with his original loan. this has a better interest rate than what I can get with a used car loan from a third party bank. can he somehow sign over the loan to me so I get all the responsibility of it and also build my credit at the same time? |
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crazi_catlady
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I don't believe car loans are assumable, and I don't know why anyone would want to let another person assume their loan. If the new person defaults on the loan the original loanee is then responsible.
MeOw |
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Trying for Big in Boise
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Good plan but it won't work. Banks approve borrowers based on their credit worthiness and perhaps the collateral as well. You weren't part of that transaction so you can't have an "assignment" of his contract.
Still, it's worth going to your own bank or credit union and applying for the loan. That is a good way to start to build your credit. Just make sure you can afford the monthly payments along with the insurance which will probably be high if you are male and under 24. |
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raham18
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have him cosign the agreement with the bank or other third party |
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BUD
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NO......THE BANK HAS TO RE-DO THE LOAN WITH THE PAPER WORK IN YOUR NAME.. |
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Stuart
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The lender who loaned him the money to buy the car would have to approve of you being the one to pay off the loan. that would equate you taking out a loan, so it's in your name.
You can simply make payments on his loan, but that is reported on his credit, not yours. |
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httnmrtt
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As long as the loan is in his name, it won't show up on your credit report. If his current lender will allow you to take over payments and release him from his obligation, you can do it. But don't bet on it. |
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PINKtiteASSofDOOM
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NO AND NO |
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szydkids
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Sure, you just need the approval of the lender. |
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davidw5748
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Unfortunately, this is not possible. The issue is that the bank gave him the loan based on his credit. If you have worse credit than him, then your interest rate would have been higher. For this reason, if you were to take over the loan, then this would be a "misrepresentation of a material fact" and would cause the contract (loan agreement) to be revoked. At least, in most of the US. Have a nice day! |
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colts fan
 |
Normally the bank will not let this happen. The reason for this is because the original person on the car loan met the banks credit criteria and qualified for the loan at a specific rate. You will be paying is the residual of what is owed on the car not the actual value of the car. What the bank needs to do is assess your risk factors. |
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