Does Rec lending use Fico or Advantage scores? What is something that disqualifies someone? I was 30 days late on a vehicle 5 months ago because of a bank error and the dealer wont change it. Other than that i have perfect payments with them and the only other recent missed payment on anything was 2015.
When I got my loan thru my CU they didn't use FICO. When they pulled up my credit score it was lower than what FICO was giving me, but I still had an excellent credit score. I've missed a payment on occasion, and it didn't really affect my score at all.
07 STRATOS 176XT
Thank you for the question. Not sure if you really meant "the dealer wont change it". Just like us, dealers can't change a bureau or credit score. Also just like us, dealers don't give approvals or declines. Some dealers have better loan sources that others - some lenders are better than others. No one lender has a taste for all types of credit. They range from cream skimmers to sub-prime. The tough part about toy loans is they are a non-necessity (I know) but the hoops are higher than for auto or even mortgages.Originally Posted by Wildcatk23
We pull a credit bureau here to get a direction of what lender to use. Lenders pull a bureau they feel best for them. They do not change for any one customer. The info on them is FAR more important than the raw score. Because they vary so much, loan history, CC debt, time in bureau all matter.
Let us know if we can help.
Thank you,
Ken
I was saying that the bank will not correct the missed payment with the credit reporters.
We see it all too often where a lender makes a mistake and will not correct it. Have you gone up the ladder very much? Credit bureaus often have old or incorrect information but getting it fixed is a whole issue. If you want a hand, we do work with a company that might offer a hand. It might be worth a phone call anyway.
Let me know,
Ken
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