Results 21 to 34 of 34
-
-
- Join Date
- Nov 2008
- Posts
- 2,403
-
- Join Date
- Nov 2008
- Posts
- 55
04-09-2010 09:11 AMThe first time I tried to get a loan I was denied because of lack of credit, that was almost 4 years ago. I purchased the boat cash instead. I am now looking at center consoles, called the bank for a laugh, I couldn't believe it when they told me they would loan me the money, times are tougher now, I have not established any more credit. I don't understand it??
-
-
04-09-2010 12:25 PM
Let me just play devil's advocate here....let's say I bought a boat for 100k, put 50k down and financed the other $50k. I stop making my payment, the bank comes to repo the boat and it is less engines. Couldn't I argue that the value of my boat is worth more then I owe, so I am entitled to the engines?
P.S. Don't bother breaking down the numbers and telling me there is not a hull worth 50k...I'm talking in theory here.
-
-
-
-
-
04-13-2010 10:32 PM
Hey Dave not for me but others might be interested.Is there a way to pre qualify someone without running the credit.Like with a credit score from one of the sites.That way the buyer or seller has a general idea if financing is even possible.
-
-
-
04-13-2010 11:27 PM
Tim - there are questions that can be asked to see if someone would qualify even before the credit report is pulled.
Those key questions are:
1) How much overall credit card debt if any?
2) Any late pays in the last 7 years?
3) Ballpark idea of the person's credit score?
4) How much did the person make last year and showed on their taxes?
5) What does the person's current total monthly bills add up to? (mortgage, ccards, car payments)
6) How much in liquid assets does the person have?
By getting the answers to those questions even before we pull the credit report I can have a real go idea if someone would qualify or not.
-
04-13-2010 11:35 PM
I always love when I ask my customers how there credit is...and they tell me clear.I just claimed bankrupcy.