Anyone with experience with judgements that aren't yours?

[Brent857]

Thanks for the sample letter link that will help! To bad it takes so long il start on the process asap! Is 672 good enough for a car loan? I was hoping to have it pretty high so I could get a low interest rate on the loan.

[bcr229]

Thanks for the sample letter link that will help! To bad it takes so long il start on the process asap! Is 672 good enough for a car loan? I was hoping to have it pretty high so I could get a low interest rate on the loan.

I figured on the timeframe b/c the 3 credit reporting agencies have 30 days to respond to your letter and make a determination, ask you for more documentation, etc. Once your dad's black mark on your credit is gone I also figured on some time needed to get the score changed, though I may also be wrong there, it could very well be instant.

Personally I wouldn't bother shopping for a loan until your credit report is correct. Sure, you could find someone to make the loan but it's not likely to be at the interest rate you want.

[txcoker]

Thanks for the sample letter link that will help! To bad it takes so long il start on the process asap! Is 672 good enough for a car loan? I was hoping to have it pretty high so I could get a low interest rate on the loan.

Don't put so much into the score as it is not a true picture of your credit. What you need to look at is your overall credit picture. How much available credit do you have now, is it revolving debt, or installments. If you are looking at new cars look for a manufacture that has a special rate, a lot of the finance companies use a computer to score the application now. I have seen people with low "credit scores" get approved because of their overall credit history. Also if you have proof that the debt is not yours and you have filed the dispute with the creditors it takes that debt out of the scoring formula until it is resolved.

Hope this helps.

[swansonbb]

There are a lot of other factors that will be considered, including other established credit & pay history, DTI, amount financed, downpayment amount, etc..

Source? I've worked in credit for a major bank for almost 10 years. Including reviewing car loan portfolios. Hope this helps!