1969lincoln

14 Contributions 127 People Helped Top Contributor

Member Since: December 2011

Most Helpful Contribution

Credit Score is 490, how likely is it that I will get a auto loan?

Nov 05, 2015
car loan approval
Helpful to 81 out of 93 people

490 credit score is really, really bad.  Someone will finance you for an auto loan, but be prepared to pay super high interest rates.   Which puts you in the poor house.  It's hard to move forward financially when you are locked into a crazy 5 year high interest loan on a crappy car that you over-paid for, because you have low income and a low credit score.  Please don't lock yourself into 5 more years of poverty.  My advice, save 1,000 or 1,500 dollars, buy an ugly car that gets you from place to place.   If the car has an unexpected mechanical failure (like the engine blows up or the transmisson goes out), then you can sell it to the auto dismantler for $500 and move on.   Maybe in a couple years, your financial position will improve, maybe get a new job, and you make credit card payments on time and credit score increases.   Then you could consider buying a used car from the dealer (again, keep the purchase amount low so that you aren't a slave to debt).  Hope this helps !!  (btw, nobody cares how cool you look in your car,  but   people look stupid  if they buy a car they can't afford)

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Credit Score is 490, how likely is it that I will get a auto loan?

Nov 05, 2015
car loan approval
Helpful to 81 out of 93 people

490 credit score is really, really bad.  Someone will finance you for an auto loan, but be prepared to pay super high interest rates.   Which puts you in the poor house.  It's hard to move forward financially when you are locked into a crazy 5 year high interest loan on a crappy car that you over-paid for, because you have low income and a low credit score.  Please don't lock yourself into 5 more years of poverty.  My advice, save 1,000 or 1,500 dollars, buy an ugly car that gets you from place to place.   If the car has an unexpected mechanical failure (like the engine blows up or the transmisson goes out), then you can sell it to the auto dismantler for $500 and move on.   Maybe in a couple years, your financial position will improve, maybe get a new job, and you make credit card payments on time and credit score increases.   Then you could consider buying a used car from the dealer (again, keep the purchase amount low so that you aren't a slave to debt).  Hope this helps !!  (btw, nobody cares how cool you look in your car,  but   people look stupid  if they buy a car they can't afford)

Im stuck in making a decision whether I should cosign for someone or not

Oct 19, 2015
Co-sign loan for bf ??
Helpful to 5 out of 5 people

Highly advise against this, especially since you already have reservations and don't feel comfortable.   Your BF has a problem: bad credit.   That doesn't mean you have a problem; he does.   It's not your problem.  That said and understood, if you are about to be married, and he needs a cheap car to get to work (under $4000) and you can afford to take the risk ( you two break up, and he quits paying for the car, and you are still liable and understand that you have to pay for a car that isn't even yours or your credit will take a dive--and you will still be on the hook for the amount owed) by all means, if it still makes sense and you understand your liability, go for it !!

Orange County’s Credit Union

Sep 22, 2012
Helpful to 4 out of 4 people

I  joined OCCU a few years ago after leaving Bank of America and US Bank.  Didn't want to support the big bad banks so we decided to try a local credit union.  Couldn't be happier with moving my business to this credit union.   Opened a checking, savings, money market fund and then needed a 15k line of credit.   Everything went smoothly and the people that work there are friendly and seem to like working there.  The employees always recognize me and take a minute to ask about my family and business.   I'm not big on touchy-feely stuff, but its nice that I feel like they know my situation, my business and me.

Mortgage Rates by Month

Jul 12, 2012
Helpful to 4 out of 4 people

you cannot afford this on 30k a year.   you need to increase your pay, sell this property and rent an apartment or purchase a cheaper dwelling, or rent out this property and you rent a cheaper dwelling, or rent out a room for extra income.   Only paying the 2.99 percent interest does notsound like a good financial future because you need to have  6-9 months savings in case of job loss, health issues and a house takes money just to maintain it.   it sounds like you are just barley getting by right now, that is not fun, more stress than you need.  btw the bank will not refi your 165k plus 90k when your income is only 30k.   my humble advice, move on and do it now.

Will a bankruptcy come off automatically?

Sep 17, 2015
Helpful to 3 out of 3 people

Enter Your ReplyMy personal advice is to suck it up, 10k or 11k is manageable and if you scrimp and save you will be able to pay it off.   You mentioned military overpaid you for the bulk of  your debt; they will deduct this from your current pay  every pay period, so i don't think you can just bankruptcy your way put of this.   FYI, and this is super important here,  if you are military and have any sort of security clearance, or will in the future, with this job or any other job,  do not claim bankruptcy.  You will not get security cleanrance with a bankruptcy and you screwed yourself out of a job or a promotion.  Hope this helps

Why did I net get approved for auto loan?

Oct 19, 2015
Denied Loan
Helpful to 4 out of 5 people

You need to check all 3 credit reports, the loan consultant might have checked one of them that has errors on your credit file; you can then dispute any errors and get your credit score fixed/   NOt knowing any other personal financial information about you other than your income, depending on what amount of payment that you were applying for, your income might indeed be too low for qualifying (debt payment to income ratio).   you need to get your free annual credit scores:  you can do it over the phone and it takes approx 5-10 minutes   

Progressive®

Dec 11, 2011
Helpful to 2 out of 3 people

crappy insurnce company.  Finally made a claim, and they were super stingy and cheap.  Moved to AAA Insurance and it was like night and day, what a difference.   Now I tell everyone to go to AAA

Mortgage Rates by Month

Jul 12, 2012
Helpful to 3 out of 5 people

anybody that has only 5% to put down for a house cannot afford that house.  Have you not been paying attention the last 5 years???   Say, just for instance, the house value goes down 20% over the next few years, very possible considering our global economy is totally unbalanced and fragile, to say the least.   you would be upside down, under water by 15 percent.   plus, when you sell a home, you can add about 6% more for realtor commissions.   As far as financial advice goes, 20% down seems like the safe way of purchasing a home, just like it was before the banks and wall st. and the government came up with crazy financing gimmics.

my is not right

Oct 19, 2015
maybe you're not quite right

Cant help ya out if you can't complete a thought or a sentence.   Why don't you think about it some more..

why do i get wrong Credit Karma Monitoring account warnings ??

Oct 04, 2015
Credit Karma account monitoring warnings

This is  not the 1st thing you want to have to deal with when you check your email account, only to find that there is nothing wrong and no new deliquent account.   Credit Karma does not tell you which account has the alert in the email, which would be super helpful, it just says "you have become deliquent on one of your accounts."   So you have to go back to each individual account, log-on with each account, and check latest payment status.   Only to find that there is no new delinquent account.   Help Credit Karma, you need to improve your website, there are quite a few things to fix.   Don't your employees use your website and run into problems too?? Your employees should be turning in suggestions to improve Credit Karma to fix issues like this, so people don't have to get so annoyed that they vent their anger on your blog.   It's embarrassing.    Also,  where do i contact   you directly about an issue like this??  Besides blogging?   Where is your customer service phone number and email address??  Or are you another one of those websites that think it's cheaper to not have a direct customer service contact and you don't have to pay somebody to respond ?? (btw, how are you going to improve and stay competitive if people can't contact you directly for suggestions and website problems and issues??)  This is not the right way do do it Credit Karma, it makes your website look amateurish when customers have to complain about you on your blog.  

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