Any other choices to get a truck with bad credit other than Lone Mountain?

Thanks for the input, my score is 579, Yes, I messed it up big time in college with credit cards and loans. 2 years ago my score was 430 something. Been working on repairing it, one account at a time, its a long process but it's turning out very well. I just thought 579 would be good enough for lone mountain but I guess not. Here is what they said are the possible reason of rejection.

• Income insufficient to sustain payments
• Employment is not of sufficient length to qualify
• Limited or no credit history
• Bankruptcy, judgments, repossession, liens

Obviously I don't have insufficient income to sustain the payments with my current company that I'm driving for. Been with them for 7 months. I will give them a call tomorrow to find out more.

My buddy has gotten me in a company he is leased with, he told them about me, I called them and spoke to them twice now. I am already approved to be leased on, just need my own truck.

 

reposessions have to be 2 years. the liens thing though. will be your killer on ANYthing till you get that off. not that the rest of the stuff is good either.

since you have limited credit. you need to start building. you won't get a credit card. but you MIGHT be able to get a secured credit card. by secured, a savings account is used to back up your card. your credit line depends on the amount in savings. start with capital one. they approve just about anyone. bank of america also does secured cards but i won't recommend them. they can't be trusted to not shut down your line of credit on anything. after 12 months and if you don't receive anymore negatives. your card becomes unsecured and you get your money back. usbank is also another option. but they require another credit check and application to turn that card into unsecured. so i don't even bother with mine after 6 years. i also don't have to use it or lose it.

haveing an open line of credit. with a zero balance will raise your score. max that line of credit and your score drops. the more credit you have the higher your score. credit cards will change your score overnight depending on the balance. in spite of people saying timely payments for 2 years will raise your score. my car loan is 3 years old and my score is the same.

get yourself a car loan. credit cards will boost your score. but really don't provide for creditworthiness becuase credit card payments are basically pennies compared to a car loan. you may not want a car but you'll get nowhere in life if you don't build credit. and some time down the road, you'll be wishing you had established credit.

as for the recommendation of creditrepair.com.

lexingtonlaw.com is $60 a month.

you also need a subscription to a credit websight. so that you and the lawfirm can see monthly reports of your credit. privacygaurd.com is $17.95 per month and provides all 3 credit agencies. it's also the closest websight i've found to be the closest accuracy to what your credit score really is. and beleive me. every websight out there will all have different scores. usually much higher then what your score is.

bankruptcies stay on file 10 years. but you'll be fine as long as it says discharged and closed.

all other negatives have a 7 year time frame. from date of last payment. but that 7 years usually last's almost 8.

as for lonemountain's denial. what they're telling you. is you can't be trusted to pay your bills. and with outstanding judgements and liens. your really screwed for ANY type of lending till those come off. nobody will give you credit, knowing that your paychecks can be garnished with a court order at any given time.

 

I believe Credit Repair Companies are another Rip-Off, they can't fix or remove anything negative on your Credit Report that you can't do yourself for free.

If you want to fix your Credit you are going to have to do the groundwork yourself, no Credit Reporting Agency will remove a Negative Mark on your Credit Report unless you can prove it's not your debt, or ask the Creditor and they agree to remove once your Account is Paid in Full.

You can obtain a free copy (once a year) of your Credit Report from all three Credit Reporting Agencies by going to www.freecreditreport.com or
www.annualcreditreport.com

 

actually, you would be wrong. you don't prove the debt isn't yours.

the consumer has the right to dispute any negative account on their credit. you file that with the credit agencies.
by law, the agency has to contact the reporting company wether the debt is true or false. and the reporting company has to investigate. if the credit agency doesn't hear anything within 30 days. the negative account gets removed.

most times though, a letter is sent back to the credit agencies saying CONFIRMED.

exquifax, however, makes it darn near impossible to dispute. you actually have to pay for a equifax report. EVERY month. so you can have a report number. and a lot of times, equifax reports wrong information. but equifax don't care. they are kind of like that DAC reporting company. all too happy to put anything on yoru credit and will NEVER take it off.

i've got a judgement, that was ordered by the court to be removed. 2 agencies took it off immediately. equifax still shows it after 6 years.
it was paid for long before it was even listed on my credit.

yes, you can do the groundwork yourself. sometimes it works, sometimes not. but it can take up a lot of your time. and sometimes, it goes further then just a simple dispute.

and sometimes it's worth paying for a credit repair service. yes it's slow. but it most defenitely does work.
yes, there are a lot of rip offs. but one poster mentioned a service he knows works. and i myself posted a service i've used once myself.

 

A repossession is a NO NO!!!! No company will take that risk. The way I see it, you would have to put half the money down or get a really good co signer.

 

Sorry,but you have less than 1 year under your belt,you have liens and debt you are trying to payoff one at a time. Which tells me you don't even have enough saved right now for if you have a major failure. Can you explain why you even think that now is the time?

My suggestion is to drive for a carrier for at least 5 yrs,concentrate on paying off your debt and start saving for a down payment and still have money setting for repairs or maintenance after the down payment. Otherwise you are setting your self up for failure.

 

I don't have any repos, or bankruptcies, just only have a car loan that is current. the rest are just outstanding credit cards and a defaulted student loan. I am going to put my car up for sale in a couple weeks after i get my tax return to do the 105k mile maintenance on it. Then put it up for sale and use that money to pay the loan off and the rest to pay a outstanding credit card off. My income now is much much more stable now, the last 7 years it has been very unstable income, so now I can afford to start payments on my debts. The student loan should be back to a good standing within early March and won't be shown on my credit report as that's what the guy told me from the collection that holds the student loan. Then that should help my rating. I'm going to try again with CAG later in spring or early summer, see how it turns out.

 

A debt stays on your history for 7 years. If your debts haven't been paid on in years, once you make a payment, the 7 years starts all over again. I hope you've done your homework on this.

 

They turned him down because he has no real time on the road

 

One year driving experience is your biggest problem,, larger down payment will help..
Best you get a few more years driving experience before you buy your own truck,,while you are getting experience take some business courses too learn about running a business,,,go to N Dakota and drive there making the big bucks for a couple years then pay cash for a truck,,