Law School Discussion

Credit and Private Loans

Boxergirl

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Re: Credit and Private Loans
« Reply #10 on: May 27, 2004, 08:18:01 AM »
My credit rating is 704....does anyone know the likelihood that i would be able to get my private loans (about $11,000/yr) without a co-signer??

Re: Credit and Private Loans
« Reply #11 on: May 27, 2004, 08:31:05 AM »
I would think you shouldn't have a problem getting approved without a co-signer with that score.  I am not sure of my FICO Score (but in the past it has always been below 700-I don't have any negatives, just excessive credit extended) but I got approved for the Citibank private loan and the Access Group private loan.  Access Group wanted me to pay a 3% repayment fee (it is assigned as 0, 3 or 6%, depending on your credit) so I am going with Citibank instead.  I didn't need a co-signer for either (although I have had credit established for over 10 years now, if that matters). 

Re: Credit and Private Loans
« Reply #12 on: May 27, 2004, 09:37:25 AM »
594 is definitely poor. The thing is, though, that I have like $200 in debt and that's all. All of my bad credit is from late payments, which were eventually paid. I actually had a collections, but I got it taken off as it was not my fault and I had no control over the situation. I mean its not like the credit companies lost money on me or something! I have paid so much in late fees on late payments that it makes me sick. But I am reformed now.

I definitely suggest checking your credit, writing the credit agency and asking for them to remove things that were out of your control (i.e. my roomates in college ran up a $300 utility bill after I moved out, left it in my name, and did not pay it: It had increased to over $800 by the time I found out about it. I can't pay for that, so I wrote the local credit beareau and got it removed.)

I signed up with equifax (where I got my FICO) to have them monitor my credit and alert me of any activity ($9.95/month). It is really nice, I get an email whenever something happens with my file.

ruskiegirl

Re: Credit and Private Loans
« Reply #13 on: May 27, 2004, 09:53:57 AM »
My credit rating is 704....does anyone know the likelihood that i would be able to get my private loans (about $11,000/yr) without a co-signer??
Try CitiAssist.  I got more than 20,000 at a low interest rate without a co-signer and my score is a 721.

Re: Credit and Private Loans
« Reply #14 on: May 27, 2004, 10:02:13 AM »
Thats a good score!