After divorce, poor credit score, need a car. Would a co-signer help? Parents will co-sign.?

I make 2400 a month net income but have a very low credit score due to divorce. Would I need a co-signer to get a loan?

After divorce, poor credit score, need a car. Would a co-signer help? Parents will co-sign.?

In order to build up credit and establish a good credit, you must show a number of stabilizing attributes. Most notably, your report must prove to the lender that he will get his money back. Here are some suggestions:

OPEN A BANK ACCOUNT

Open a bank account and use it responsibly. This is the first step in establishing a financial history.

CO-SIGN

One way is to piggy-back onto someone who already has a good credit history established and is willing to co-sign. Once the co-signing has occurred, you simply make payments on or before the due date. In time you will have established a credit history.

SECURED CREDIT CARD

Apply for a credit card. Shop around and only apply for a card if you can meet the lender%26#039;s requirements. Responsible use (spending within your budget and paying your bill on time) will help you build a good credit history.

DEPARTMENT AND GASOLINE CREDIT CARDS

Since gasoline credit cards are not revolving (cannot carry a balance forward month-to-month), often they are easier to obtain than regular credit cards. Similarly, some department stores offer revolving credit for a specific purchase and this is sometimes easier to establish. It is also a great way to establish credit.

This website can be very useful for you:

http://www.howtoestablishgoodcredit.com/...

After divorce, poor credit score, need a car. Would a co-signer help? Parents will co-sign.?

You might not, but you would get a better interest rate on the loan if you di have a co-signer.

After divorce, poor credit score, need a car. Would a co-signer help? Parents will co-sign.?

Stop trying to fix your problems by going into debt. I know you are beaten down from a divorce, but the last thing that will improve it is adding another monthly pymt to your life. Btw, divorce by itself doesn%26#039;t lower your credit score. More likely, it is the bad financial mgmt during the marriage that tanked your score.

Please get a copy of Dave Ramsey%26#039;s %26quot;Total Money Makeover%26quot; before you do something that is going to cause more problems than it solves. I know you are probably hurting emotionally from the divorce. I know Dave%26#039;s plan will help you if you will do it. It has helped us immeasurably.

After divorce, poor credit score, need a car. Would a co-signer help? Parents will co-sign.?

Yes it should help having your parent%26#039;s co-sign if they own their own home

After divorce, poor credit score, need a car. Would a co-signer help? Parents will co-sign.?

Possibly, it%26#039;s hard to say for sure. You can try to get a loan on your own and if they don%26#039;t let you, then have your parents co-sign. If they come with you the first time just in case it will save the hassle of going back later. If you do need them to co-sign for you make sure you keep up on the payments though. You don%26#039;t want to ruin their credit too. Good luck.

After divorce, poor credit score, need a car. Would a co-signer help? Parents will co-sign.?

You would probably be able to get one, but your interest would be higher due to your poor credit. A co-signer would help your interest rate if they have good credit. This site also has some helpful information about auto loans. Good luck! http://loan.divinfo.com/

After divorce, poor credit score, need a car. Would a co-signer help? Parents will co-sign.?

oh hi dear , here%26#039;s a fit resource for you..things you need to know before considering that and if you%26#039;re really ready to ask someone to co sign for you, etc

goodluck and take care