Shag555

That sucks... A couple of years ago i had a Chris Craft Stinger lined up, but none of the banks would loan out cash at that time for that old of a boat. I have/had excellent credit as well.

When i purchased my current boat last year, i went through my credit union. Other banks stated that they didnt do performance boat loans. My credit union indicated that they could go back 10 years with a good interest rate, but for every year older after 10, theyd add a 1/4 percent to the rate.

So, are you going to throw down for the Scarab on your own? If you sell your current rig, youll at least offset some of the cost (rationale with the other half)...

soldier4402

i had a loan through wells fargo for a truck once, good rate and to be honest with you I dont care what bank gets my money as long as the terms are the best. But just trying to contact them the few times was a pain and their website sucks. For that i go elsewhere.

97FASTech

iTrader: (6)

"they agreed that I was correct and that it was there fault but the most they will do for me is send me a letter stating that the card was paid in full and the date that it happened."

Take this letter and send to the 3 credit reporting agencies. You should be able to clear it up. It will be a PIA but it will help.

4bus

iTrader: (4)

You can go online to each of the credit agency's sites and dispute the negative items on your report, they will mail a request to the creditor and try to verify. If it is settled, or untrue they will not even respond, clearing the bad off in 30 days. You score will take longer to rebound, but you should see it where it should be in about 90 days.

My name got crossed with a guy from PA years ago, he had 14k in unpaid medical expenses through about 20 different places. Took me almost a full year to get off what wasn;t even mine.

A great site to do it all in one place is this http://www.experian.com/consumer-pro...ore.html?ps=pg great site, but $40 to get started.

I still use the monthly monitoring, worth every penny IMO

soldier4402

Dont be quote me but if you send something through one credit bureau they are required to send it to the other two. Your bank or credit card company can probably help you.

WakezoneINS

If you paid Wells Fargo in full 5 years ago then you can write a letter to each credit bureau contesting the mark on your credit. The credit bureau has to look into it (whether you have proof or not) and if they can not get proof of something contrary to your statement then they legally have to remove it from your credit report entirely and it's like it never happened. It will be well worth the hour it takes to type and sign those letters. A bad credit score or bad mark on your credit can hurt you in so many areas. Don't let the big bank win, get it removed

I attached the FTC's fair credit reporting act details for you... see bullet points 4 & 5.

Good luck!

joe27baja

I use my credit union and they just go off of blue book but I have NO issues with them ever.

ziemer

iTrader: (1)

All three will let you do online disputes. Just went through a similar situation. Had a small collection amount that showed up from a hospital bill. I had paid in full and did not pay it to collection agency.

It dropped my credit 100 points. Filed online dispute and within a week, the derogatory entry was removed. Score immediately went back to normal.

Good luck.

gcsprayjr

I borrowed against my 401K. I know, it's stupid, but it is a resource, and they don't care what you are using the money for. I paid it back within three years, but could have taken 20.

Good luck on the credit problem.

soldier4402

This is an option and like you said not the best of ideas. But if you pay it back in short order may not be a problem, but I wouldnt turn this into a habit as killing your retirement for a boat now probably isnt the best of ideas.

I admittedly did this once but only for 5 grand and only for 7 months. Im sure different organizations have different rules. But when i did it the money you borrowed didnt gain interest, but everytime you paid monthly that went back into the account and gain interest again. There may be some that wont start giving you interest on that money until you paid it all back.

Looking back I think this is very dumb and will not do it again unless an emergency. Because the rates are low think when I did it 2 years ago it was 3%, seems cool enough. BUT you are also loosing the interest gained on that money which could be anywhere from 4-15% which in turn plus the 3% interest they are charging for your own money that boat ends up costing you anywhere from probably 7-18%. Not to mention you are losing the compound affect by not having that money in there. So in reality that boat or toy is going to end up costing you a lot more money.