Posted on: 25th Sep, 2012 12:50 am
hi there… i filed chapter 7 bankruptcy and got it discharged in 2009. my credit score now is 659. i looked at my credit report recently; it has a lot of derogatory items on it. i want to buy a car, and applied for credit. it was denied. what can i do?
Hi Morphy!
Welcome to forums!
With a 659 credit score, it will be difficult for you to qualify for any kind of car loan. Lenders will want you to have a score of 700 and above. So, you should take steps to improve your scores and then apply for a loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
With a 659 credit score, it will be difficult for you to qualify for any kind of car loan. Lenders will want you to have a score of 700 and above. So, you should take steps to improve your scores and then apply for a loan.
Feel free to ask if you've further queries.
Sussane
Welcome Morphy,
You can check out the given page in order to know some steps to improve your scores: http://www.mortgagefit.com/credit-rating/credit-repair.html .
You can check out the given page in order to know some steps to improve your scores: http://www.mortgagefit.com/credit-rating/credit-repair.html .
Chapter 7 reduces your credit score by 250 points and the negative effect of it remains in your report for around 10 years. To get approved for a car loan with a credit score of 659 will be difficult. You must put in efforts to improve your score.