Looking For A Lender That Deals With Bad Credit
Does anyone know of lender that deal with bad credit. I have been in contact with the credit reporting agencies to try to get the information removed, but they are reluctant, so I may have to sue.
Any help would be great. Again, the negatrive information on the credit report is not mine it was due to identity theft.
You have a serious problem there. Are you able to prove to the fact that happen to you? How bad is your fico now?
Yes, I have an Identity theft affidavit on file.
my credit is fairly bad also,but I've repeadly been disputing the derrogative accounts with the various reporting agencies. I was able to use several techniques to get 2 accounts that were both overdue on www.chexsystems.I'm still working on my last one which is Bank One.However one technique that will work is purchasing a $1000 cd from your bank and taking out a loan.You can secure the loan with the cd,make accelerated payments and have the loan payed off in 4-6 www.months.Continually do this about 2-3 times a year and your fico score will also rise in the process.
monte82........thats an old carlton sheets and many other of the ancient rei and fin. gurus tricks. i've used that technic in the past. it does work and will increase your credit. its one of the few ways to increase your score that does work....km
There are a few out there that genuinely offer financing to folks with dinged credit that I am familiar with depending on the state and how low your fico is. Some will even overlook certain types of collections if they are old enough.
Good luck!
I am a loan officer in Memphis, Tn and I deal with people with bad credit all the time! And yes, most of the time lenders do overlook derogatory accounts that are over two years www.old.Give me a call and maybe I can be of some help in helping get your score up. We are licensed in 37 states. My e-mail is **Please See My Profile** and my # is (901) 831-5308. I could also call you if it would be more convenient.
~Kesha
We recently refinanced our home with a subprime lender, Full Spectrum Lending. As far as subprime lending goes, they were great. It was a stated income loan, and at the time my FICO was a 501 (they work with 500 and above) The interest rate was 7.5, and would have been 7 if we have W-2 income to present. I would definetly recommend them as a way to start off. We were unable to get a loan ANYWHERE else, and they helped us and treated us like real customers, not subprime. www.fullspectrumlending.com
jm.. I have a friend who sells PrePaid Legal services and I believe it would be very inexpensive to join both their legal plan ($16-25/month I believe) and their identity theft protection plan ($?). That way you would have a lawyer to write on your behalf and that should get some action from the bureaus.
Also, post your question at: www.artofcredit.com
I have received lots of good answers there regarding all sorts of credit situations. You may find a protocol of how to deal with agencies RE ID theft.
You can attack the credit situation as noted.
You did not comment on what you want to finance. If the deal is very profitable with a low LTV you can get a HML.
You also can do deals with lease/options or subject-to deals where your credit plays a much smaller role or is not even a factor.
So, there are multiple paths.
The key is to start improving the credit as that takes time. Then work on other ways to get deals done. Do a few early deals without credit to make a little money to then either have a large down payment or pay off some of the debts that are still there.
John
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