Can auto lenders hold medical collections against you on a car loan?

I thought medical couldn't hurt loans on autos. Is there a law that states you cannot be denied a auto loan because of medical? The loan is from the Honda dealer's private lender.

Can auto lenders hold medical collections against you on a car loan?

Auto finance is what I do for a living and medical collections are no different then any other type of collections as far as lenders are concerned.

What ever it is, it's a bill that you did not pay and was turned over to a collection company and is now part of the public record section of your credit report.

While some lenders do not put as much emphasis on medical as others, there is no guideline and certainly no law that says that you can not be denied because of medical collections.

Can auto lenders hold medical collections against you on a car loan?

Visit this webguide : Auto Loan Guide: http://autoloans.autoloanassis...

Good Luck Report It

Can auto lenders hold medical collections against you on a car loan?

No - your credit is your credit, overall, and if you have negative info on your credit report, potential lenders can and will take that info into account when deciding whether to lend you money.

Can auto lenders hold medical collections against you on a car loan?

spifiman is correct. Medical collections affect your credit rating the same as any other derrogatory account.

There are ways to get these collection accounts removed from your credit report. Too many ways to list them here. I suggest you learn them though, so you don't have to pay the %26quot;stupid tax%26quot; (high interest rates for people who aren't real smart with their money and/or credit.)

Can auto lenders hold medical collections against you on a car loan?

No-you need to take steps to clean up your credit. Many people will tell you that you can do this yourself. You can with a little help. The key is to have the language of your letters correct. The wrong verbage will get you thrown into a turndown stack and possibly blacklisted. Additional tips will help you as well. I have had success with a do it yourself credit repair kit that costs less than $20閳ワ腹鈧?a much better solution to those firms charging per month or $699 for a program. Good luck.