Loan denied with Fico score of 654?

[quirkypixie]

We would like to purchase a little travel trailer for our family. I applied for a loan online, and we were denied.

I started digging into my hubby's credit, and found a few charge offs. His Fico score is still 654..........almost all of the charge offs should have been removed (over 7 years old).

I would think even with a Fico score of 654 we would have been able to get a loan?

[94B]

Originally Posted by quirkypixie

We would like to purchase a little travel trailer for our family. I applied for a loan online, and we were denied.

I started digging into my hubby's credit, and found a few charge offs. His Fico score is still 654..........almost all of the charge offs should have been removed (over 7 years old).

I would think even with a Fico score of 654 we would have been able to get a loan?

Can't really respond to your question regarding why you were denied with the FICO score of 654. What reason(s) did they give for the denial??

What do you mean almost all the CO's should have been removed(over 7 years old)? Negative items(i.e. charge offs, collections,etc) stay on your credit for 7 years from the DOFD(date of first delinquency) with the OC.

Has it been that long?
Have you done the basics of credit repair?
Have your disputed these accounts with the CRA's??

[quirkypixie]

Originally Posted by 94B

Has it been that long?
Have you done the basics of credit repair?
Have your disputed these accounts with the CRA's??

We are working on this now. All of them are 7 years old, or older. I have 3 letters ready to go out Monday......to the CRA's. I did not realize these were on his report until a few weeks ago.

I guess my thoughts were that, while the credit score was not the best, it was not the worst either.......