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About Rob

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  1. I don't know when, but they will. I am not saying this from personal experience with Toyota, just in general. What folks need to know about car loans and high APR's is this. If you have bad credit and can get financed but at a ridiculous high rate, take it on the chin. Here's why. Once you have made several (6 months or more) payments, you can re-finance your car usually with much ease through online auto loan refinancers. The refinancing will come at better rates and smaller payments. You will save thousands over your current rate. So don't be upset when the liar finance manager or whoever comes back with a BS high rate. Simply accept it and drive away because in a few months, you'll be refinancing into a smaller and less costly payment. One thing to keep in mind, is that the folks that hold your current loan, will not refinance you with better terms. You need to go elsewhere. It's just what they do. This also works as many times as you want. Most times they have nothing to lose! They are not extending new credit, they are buying an exsisting debt, a secured one at that. Good luck.
  2. LadynRed, Wow. Thank you so much for this HUGELY valuable information! I have this going on right now and BEFORE I read this (a few days ago) I sent out disputes based on this. I wasn't exactly sure if I had a leg to stand on with this but I was willing to give it a try. Now that I have solid information, they will surely see things my way. Cap1 and a bank that had my auto loan are the offenders. Interestingly enough is that I am in Chap13 repayment with 2 years left but have managed to obtain some 10 positive trades. The downside is that these SOB's are doing this and killing any work I've done by showing recent payment history of late and things of that nature. Not only that, the bank changed names and are on there twice! One showing lates and selling the loan. BUT they changed names AFTER the BK. Thank you, thank you, thank you for this priceless information! I will surely be able to beat them down now. Kudos to you! You just made my day!
  3. Oh I should mention that the advance doesn't come without a price. As I said, they are going to get back to me but I think it's at a 30% simple interest rate. Meaning, $5000 would be paid back at a total of $6500. Ah, yes. The high cost of low scores. Tastes good don't it?
  4. To those small business owners out there, I was wondering if you have heard of this. Cash Advance against your credit card merchant account. I'll explain. If you accept credit cards in your store and have at least $1500 in CC sales per month you can get a "cash advance" towards future CC sales. They offer easy approval and $1500 to $100000 in advances. You pay the advance back by doing nothing but switching over to them as you merchant account folks and they take 25-35% of your deposit. After their usual transaction and sales fees, of course. Has anybody heard of this or used it? I searched and searched online to find anything negative about it such as scams and such but found nothing. I was a bit skeptical but sent my info in anyway and I am waiting for the offer/approval. The guy I spoke to felt I could get about $5000 based on my monthly CC sales. The information I gave made me feel a little uncomfortable, but ultimately, it's nothing different than what I gave the last guy to set me up with a CC machine and merchant account. Anybody? Thanks.
  5. 29.20% yep, that hurts. And $39 a year. Whew! Well. Maybe I'll treat this one right and keep it low. I like the idea these folks have though. Offer high limits and easy approval. But just make you pay dearly if you actually want to use it. I prefer this over smaller APR's and smaller limits. I'm OK with it too since hey, if I can't behave properly than I should have to pay for the risk. It seems reasonable. What I don't care for as much is that I will be tempted to keep it longer than I should because I want the age of a revolving line. Right now after my BK being just 3 years ago, my oldest positive (minus the student loan that was reset to positive due to the BK) is merely 1 1/2 years old. In these 1 1/2 years I've managed to get 8 positive tradelines. I really need to stop applying for credit, the inquiries and new accounts are killing my score. Every time it gets up enough to catch somebody's attention or mine, I apply and unfortunately get small limits and high APR's because I couldn't wait. So YEA! and BOO! So... anybody out there like me and can't keep their hands off the credit app? Just curious if it's just my own sickness or not. Appparently I have learned nothing from my BK. LOL.
  6. Just about anybody can get financed with enough money down. Once you put the ball in your court by financing less than what the car is worth - they will surely see it your way. Good luck! But with enough $$ in hand, you won't need it.
  7. Oh I should also point out that the counter-top type means you give them the cash. The machine only does approvals and captures PIN numbers etc. So you have to be in a cash positive situation to be able to do it. The guy I spoke to said you could put a limit on the amount they can withdraw so not to put you in position to have more cash on hand than what you would be comfortable with or afford.
  8. The per transaction and percentage are important but I think the more important thing to do is negotiate the equipment. You can find equipment on Ebay or wherever. I bought my machine brand new for $750. It's a lot of money and I could have gotten it for less than that. But leasing it would have been more like twice that. Fresh off a BK, my guy charged me more for my machine than what my friend (who signed up at the same time) got his for. They do a hard inquiry but I'm telling you it's just so they can take advantage of you. They want to use credit as an excuse of a supposed risk level. The big difference is that if you buy the equipment you can switch companies at any time and spend a heck of lot less. For what I would have been paying in leasing AND transaction fees, I would be paying over $100 a month to accept cards. Well let me tell you, unless you have high ticket items don't waste your time accepting them. Better yet, get an ATM machine in your store. And what I mean by that is that they offer counter-top units that are owned by other people and you get a small $ amount for the transaction (like $1). Keep this in mind when considering this. In one case you are making money, the other it is costing you money. For the ATM thing, check your newspaper. They are in there usually under some sort of business section. If you buy CC equipment any where other than your merchant account people, make sure that buying it doesn't mean you are getting the service too. Or maybe that's what you'd prefer. Ultimately, make sure you understand everything before committing and signing contracts that bind you for many years to come.
  9. After reading about this card I decided to get it a shot. I was approved for $1000. I don't know the terms yet as I haven't received it but I am excited about this. My TU was 578 FICO, with 4 baddies. One is a paid collection and 3 are included in BK13. I was successful in disputing my BK off my TU. It remains on the other two. My TU it was my lowest FICO but my FAKO, it was my highest. My highest FICO was/is 619 EQ and got a regular Wal-Mart card the day before for a mere $190. <couldn't go an extra $10?> I also have 2 other GEMB cards. $500 JCPenny and a $350 Dillard's. The Dillard's started at $150 (just applied for a bunch of stuff right before and my score tanked) but within 8 months I requested 2 increases and got $100 each time. JCP won't budge. I have requested an increase twice and they have denied me both times and it seems they do a pull (soft I believe). Which I think is odd since Dillard's didn't seem to care. I'm guessing they either have a cut-off point to do a pull ($500?) or the agreement between each retailer is different. If I am denied once again at the 1 year mark, I will contact via phone and get one. SOB's! I have to say, with a small $150 CL, it's hard to find anything to buy! But I've charged it up and paid it off several times while keeping a balance a few times. The JCP card gets used often and I've requested with and without a balance with no luck. So anyway. Thanks guys for the great tip and I will surely enjoy using this card and most importantly being able to say "put it on my Hooters card!" LOL.
  10. Great thanks! Anybody know of any others? I know there were a few others at one time.
  11. I used to have links to several sites that offered information about which company pulls which CRA report. I have googled tons and can't find anything. I've searched this site as well. Anybody have links to this type of info? Thanks.
  12. Thanks, I appreciate the effort and the reply. I'm sure that anyone going through a BK13 repayment would want to know this. It could mean the difference of waiting out the 3-5 year repayment plan and THEN starting over from scratch or getting a jump start and being able to walk tall once again right after the discharge and certainly even taller after the removal. A 2 1/2 year good reported history at discharge could mean a great deal. 4 1/2 years at removal is huge. I don't think information like this should be snubbed. It may not be for some but others may be interested to know and want to take advantage of it. I know I do. Thanks again.
  13. Well I guess that's where the confusion is. As far as a "review" - it makes sense. It's the trustee's job to make sure that you can make the payments and that he is being fair to the creditors. However what nobody has said here is whether or not they pull a CR. It seems to me that during this review they probably ask you questions, look at pay stubs and if you are self-employed - tax returns. I haven't been through one but that seems logical to me. Maybe someone knows first hand? Short of pulling a CR, how would anyone ever know, meaning trustee, if you obtained new credit? I can see how they would know if you changed your income and switched to a higher or lower paying job etc. and adjusted the payments accordingly. I get that. But the million dollar question remains, do trustee's pull CR's? If so, I agree, I may be in for a world of trouble. If not, then well...
  14. Send flowers or use Mrs. Beasley. You can also get roadside assistance. And then there's this stuff. And there was another place to use your card that I can't find off hand. If you email or call them I believe they can tell you where some non-branded items are located.