Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
aoc10

0 Contributions
0 People Helped
Can i get a car loan with a collection account?
According to CK I have a 650 in Equifax and 599 in TU since I have an account in collections for a medical bill for around $1,500.00. I was curious about my Experian score so I went to their website and paid $1 for the report but they show that my collection has been closed. So my question is if this is normal or is there a way to dispute it with the other two credit bureaus? Also, I'm trying to get ready for a car loan. I did around $18,000 for a used car, does anyone know what credit score I would need to get approved for that loan with a reasonable interest rate? I plan on going through a credit union.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1136 People Helped

Hi

Closed/open doesn't really matter, a collection is a collection and is bad. There are many ways to dispute collections and to get them deleted. I would research "get collections removed". The age of the collection matters too, if it is old it's impact won't be as bad as if it is recent. Keep in mind the scores you are giving are Credit Karma scores according to what you have said, your actual FICO scores will be much lower, so try to find a lender that uses Vantage. Unfortunately, I do not believe you will find any good rates, if you do please let me know. Most likely you will have to go with a subprime lender and have a hefty cash down payment on that size of a loan. I wish you the best.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.