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 Posted: Mon Jul 02, 2007 4:02 pm Subject: Refinancing Auto Loan |
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I have a question about the impact of refinancing on a credit report. I have an auto loan at this time in good standing. The interest rate is high and my mother co-signed for me because of my poor credit history.
As the monthly payments are high, I was looking into refinancing. I applied for refinancing with another bank and was approved (no co-signer) with a lower interest rate.
Now, my question is...does this help or hurt my credit? I would like to accept the refinance offer, but do not want to damage my credit that I have worked so hard to repair.
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| Posted: Mon Jul 02, 2007 4:04 pm Subject: |
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Darn...that was me posting up there...sorry.
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waterbug811
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| Posted: Mon Jul 02, 2007 4:06 pm Subject: loan |
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I wouldnt think it would hurt your credit. A lower interest rate sounds good. It sounds like to me you have improved that credit or they never would have offered the loan to you. Kyside38
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KYSIDE38
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cajunbulldog
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