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Yet another loan question.


strabismo
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I have two unpaid collections on my report one for $113 reported last month opened in 1999. I cannot get in touch with this CA to pay. The other is a bankfirst credit card that was last reported on 9/2004 because I tried to get it removed. Also having hard time finding who has the account now. First will I have to pay both of them off to get a loan? Second my wife has some problems with medical bills and I was going to get the loan only in my name, is this possible? My current FAKO scores are 670 from all three. Thanks.

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Depending on income & job history & how long you have had your tradelines (And from the scores I would imagine for over 24 months) I would think you can get a loan for 100% of the sales price.

There are lenders that will disregard charge offs/collection account over 1 year old, and many that will allow over 2 years old to be not paid.

Charles

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Let me add a few things. I will be getting out of school in May. I have never had a car loan, but my school loan debt is 145,000. The payments will be about 400/month. I will have my own business and will probably make in the range of 70,000-100,000 my first year out. Does this hurt me terribly?

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