K
kaciespade
I dont know if this is the group to ask this question, but I'll try
anyway:
I am 19, almost 20 years old, and my credit rating is very poor. When I
was 18 and a half years old, I took out a car loan at a VERY high
interest rate due to the fact that I was a first time buyer with no
credit and I had to have my father co-sign for me. They also required a
down payment, so we put $1,000 down. Leaving me with a $6,000 debt to
pay bi-weekly. Over the course of 6 months into the loan, the car
constantly broke down. It seemed like I put extra money into the car
every other month. When it came down to it, the car lot was not honest
with their warrenty policy. 6 months into the loan the car totally
broke down! They told me to bring it in and $50 was the maximum I'd pay
due to my warrenty. After a week with no vehicle had gone by, the car
lot wanted $300 to fix it!! What happened to the $50 max? Not covered!
After months of stress and financial problems I voluntarily gave the
car back in October 2004. Leaving me with months of a $3,900 charge
off. Since then, my father has passed away, so I don't know if that
will affect anything. Also my credit score is 544 with Transperian.
Very poor. I know I made a bad decision and I take full responsibility
for my choice, but I am still stressed out a year and a half later. I
feel horrible knowing I have this debt. I'm ashamed because I can't
even get a department store credit card! I want to take care of this,
it's the only debt I owe, and I want it off my credit report. Is there
a way to do this? What steps should I take to clean up this mess?
anyway:
I am 19, almost 20 years old, and my credit rating is very poor. When I
was 18 and a half years old, I took out a car loan at a VERY high
interest rate due to the fact that I was a first time buyer with no
credit and I had to have my father co-sign for me. They also required a
down payment, so we put $1,000 down. Leaving me with a $6,000 debt to
pay bi-weekly. Over the course of 6 months into the loan, the car
constantly broke down. It seemed like I put extra money into the car
every other month. When it came down to it, the car lot was not honest
with their warrenty policy. 6 months into the loan the car totally
broke down! They told me to bring it in and $50 was the maximum I'd pay
due to my warrenty. After a week with no vehicle had gone by, the car
lot wanted $300 to fix it!! What happened to the $50 max? Not covered!
After months of stress and financial problems I voluntarily gave the
car back in October 2004. Leaving me with months of a $3,900 charge
off. Since then, my father has passed away, so I don't know if that
will affect anything. Also my credit score is 544 with Transperian.
Very poor. I know I made a bad decision and I take full responsibility
for my choice, but I am still stressed out a year and a half later. I
feel horrible knowing I have this debt. I'm ashamed because I can't
even get a department store credit card! I want to take care of this,
it's the only debt I owe, and I want it off my credit report. Is there
a way to do this? What steps should I take to clean up this mess?