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Guest · Posted: Fri Dec 21, 2007 3:03 pm Subject: Getting a bank loan

I won't say my credit is bad - my score is roughly 650-660 - but I did have some credit issues beginning 2005 with charge offs and collections, mainly due to loss of jobs, of which most are taken of now. In 2006, while I was paying these off, I moved into my own place, paid my own rent, cable, electric, etc. and have yet to be late on any of these, but of course, these don't show up on credit reports.

I'm looking to buy a new car, as my current one is over a decade old and over 200,000 miles. I'm thinking the safest place to get one would be a bank, because although I'm part of a credit union, I don't really use it, and I don't want a auto loan place checking my credit. My question is: Do banks base their decision on just your credit report, or do they look at your account history as well? The reason I think the bank would be the best bet for me is because they'd be able to see that I've paid my rent, cable, electric, etc. on time for the past 18 months, whereas someone checking just my credit wouldn't see that - they'd just see what I was late on. Am I thinking right, or no?

Posted: Fri Dec 21, 2007 3:08 pm Subject:

I believe they base it on your credit score. Paying your utilities on time really isn't an extension of credit in their eyes. You're more likely to pay your rent and utilities above all else anyway, because you need a roof over your head, electricity, etc. So, if you find yourself in a bind, the loan would not take first priority in getting paid.

You usually get better financing and a bit more leniency as far as giving you a loan, if you go with a credit union.

Sindel · Posted: Thu Jan 24, 2008 6:57 pm Subject: Debt consolidation care

If you need my assistance,Please contact me
We are Hawthorne Capital of NY and my name is Joyce Farley one of the Loan Officers.
I'm willing to help if you are looking to get your debt consolidate..
No soliciting. Please read TOS. ~FINS

Maybe we can find a solution to your financial problem

Posted: Thu Jan 24, 2008 7:34 pm Subject:

At a bank you probably won't be approved for as much as you would a credit union, plus a credit union will give you a better interest rate.

I was at a bank for 13 years, never bounced a check there, then got into a bind and just wanted a small loan to get by and the same bank that had my business for 13 years said nope. Then when we saw a cabin that we wanted to buy we went to the credit union (which I have never done business with) they said yes they can do it. So we got a loan for that, then a truck loan, and we don't have that great of credit. We got a good interest rate. So needless to say we dropped the bank and put everything to the credit union.

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