situation.....My dad was in the hospital last year and almost died. I was with him for about 45 days during this time i missed approx 2 payments on all my loans( car loan, 2 personal loans, 2 credit cards, and a 4 wheeler loan) Once i returned home I quickly returned everything to normal, or so i thought. Now over a year later I have all of the above paid off except for my car but i got denied for a loan the other day when i went to trade my car in. i got several letters and they all said the same thing. Past or present delinquincies. now this was just 2 missed payments that were corrected before any went to collections. whats the deal here if they are paid off?
2007-08-06 06:59:20 · 6 answers · asked by fa q 3 in Business & Finance ➔ Credit
to elaborate all debt but my car payment is paid off completely. I was 60 days past due on 6 accounts, but only one of the 6 (car) remain with a balance.
2007-08-06 07:58:52 · update #1
ok second i dont use credit repair companies and already know they are a scam. you can accomplish the same plus more on your own.
2007-08-06 09:36:34 · update #2
Sometimes you can request to have contact information to the person who makes the loan decisions for the organization. It's tedious and they may ask you to show documentation from the businesses whose loans you paid in full. If you can prove the circumstances and how you continued to pay the loans off, that should tell them something. There are no guarantees however.
If they decide to loan you the money you can insist on a decent interest rate. You shouldn't be punished when you followed through.
Contact the credit bureaus for a recent credit report. You should do this anyway. As you have been turned down in the past for a loan, the report is free to you. Hope this helps.
2007-08-06 07:10:28 · answer #1 · answered by talondora 4 · 0⤊ 0⤋
This isn't just one account with 60 days past due, it's 6 accounts with 60 days past due. It's going to take some time for you to recover from that.
Are these accounts now paid in full or just paid current? If just paid current, it also sems you have quite a bit of debt. That could impact the car finance company's decision on the new car loan.
Keep paying all your debts on time, save some money for a bigger downpayment, and try again next year.
2007-08-06 07:16:37 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
The only thing you can do is to pay your bills on time going forward. It’s going to take seven years for things to get back to where they were.
You can contact the three major credit bureaus and have a statement put on your credit files with an explanation for the late payments. It will not help your credit score, but will help sometimes with being granted new credit.
Should another medical emergency happen, make sure you stay in contact with your creditors. Most will file hardship paperwork to keep your credit file cleaner. Most companies are fair when it comes to medical emergencies (you’ll have to prove the emergency) and will make payment arrangements.
You may also want to look into setting up automatic bill pay, so should you be out of town your bills will still get paid on time.
2007-08-06 07:20:31 · answer #3 · answered by Robin C 5 · 0⤊ 1⤋
You are learning the hard realities of credit life.
I suggest that you ask the credit card companies to include a brief statement that you write indicating the reasons for late payment.
it is considered that your credit is not perfect and that you are penalized for that.
There is very little that you can do other than the suggestion made above and making sure that whatever the reason you are not late again. Time will improve your credit ranking.
2007-08-06 07:11:07 · answer #4 · answered by DrIG 7 · 0⤊ 1⤋
Those 2 missed payments will hurt for quite a while. Your reports will show you 60 days past due and it takes a while for that to age. Credit is extended based on your past credit experiences.
2007-08-06 07:05:12 · answer #5 · answered by Anonymous · 0⤊ 1⤋
No, you have not "heard of a few companies that confirm a number of the dings on your credit (or a minimum of help you to achieve this)". you have heard of a few companies that lie by means of asserting that they do those issues, so as that they are in a position to get money from you. they don't do those issues. All they do is to take your money and make your credit lots worse, not extra effectual. while you're enormously fortunate, they take your money and don't something on your credit. the terrific enterprise isn't any enterprise. it could or won't be conceivable to confirm the dings on your credit without employing a enterprise. it is the only actual way. that's not conceivable to do it with the "help" of a enterprise. you're able to be able to the two attempt to confirm the subject concerns with your credit or you're able to be able to pay money to one in all those companies, yet you could not do the two.
2016-11-11 09:17:06 · answer #6 · answered by blaylock 4 · 0⤊ 0⤋