Road Loans

[loudrumble]

I just got a loan through RoadLoans @ 21.49%
I shopped around and that is the only approval I got. I am only 3 months out of discharge.

My question is they told me I was eligible to refi after 1 year if all payments are made on time and no other negatives on my credit report.

Has anyone had any sucess doing a refi with roadloans?

[bkdone]

I just got a loan through RoadLoans @ 21.49%
I shopped around and that is the only approval I got. I am only 3 months out of discharge.

My question is they told me I was eligible to refi after 1 year if all payments are made on time and no other negatives on my credit report.

Has anyone had any sucess doing a refi with roadloans?

What kind of loan is RoadLoans? Is it for a car or what? And how much is the loan for? What amount?

[Momof123]

I just got a loan through RoadLoans @ 21.49%
I shopped around and that is the only approval I got. I am only 3 months out of discharge.

My question is they told me I was eligible to refi after 1 year if all payments are made on time and no other negatives on my credit report.

Has anyone had any sucess doing a refi with roadloans?

I got a loan from roadloans for 12% 3 months after discharge they also told me I could refinance after a year, I tried and they denied me the refi, not a happy camper with them for that. I am making extra payments to get them paid off early.

Have you tried Capital one 21% is really high???

[loudrumble]

Yeah its a auto loan. I got approved up to $15,000 but I only spent $8,000 on the vehicle

[CindyLou]

I refied with Christian community credit union at 6.75% after one year of ontime payments with capital one.

[tiredofdebt1]

I replaced my vehicle the day after my 341 meeting.....Haley Toyota got me financed w/ Prestige Financial....10.7% interest rate...and i am signed up for the rate reduction plan...which every 3 months...the interest rate is reduces by .5%...as long as my insurance is current...and i make my monthly payment on time..which isn't a problem..because they withdraw it every month on the 15th..when i get paid..which is what i requested...although technically..i should be paying on the 7th...they changed my payment date.

[krielly]

You say you shopped around, but did you pull your credit reports before doing so? I just wonder what your scores were, and if you had a lot of erroneous reporting which caused so many denials. Generally folks seem to be able to get vehicle financing shortly after discharge. Granted, at a higher interest rate, but yours is obnoxious. (No offense meant)

We are in the middle of a 13 (not even discharged yet) and got vehicle financing at 12.25 percent. - Before anyone jumps on me, yes the trustee knows

K

[loudrumble]

my score was a 590 fico. Yeah, i shopped around. That was my only approval

[krielly]

That stinks. My score was in the 560s. My DH was in the 540s.

Did you review your credit reports to see if they are reporting things correctly? Maybe there are some corrections you can make to bring up your scores. I just obtained all 3 a few weeks ago, and will hopefully start the disputing process soon.

K

[HRx]

I just got a loan through RoadLoans @ 21.49%
I shopped around and that is the only approval I got. I am only 3 months out of discharge.

My question is they told me I was eligible to refi after 1 year if all payments are made on time and no other negatives on my credit report.

Has anyone had any sucess doing a refi with roadloans?

Thats fugly!!! Just wait a bit and reapply in a few months after you had a chance to re-establish some new credit first. You work to hard for your money so don't give it away for this price!

[keepmine]

Just something to keep in mind guys. When you apply for a secured loan, other things come into play like, your income, debt to income ratio and prior history with auto loans. Many lenders use their own credit scoring system in addition to FICO scores.

[krielly]

very good point