Boob Job : Bad Credit but has income and has good cosigner
Hi Ladies!
So I have a question, I wanted to get a breast reconstruction, pretty much I have a thing called "uni-boob" :(
The cost is around 9,000
I have pretty bad credit score around 565 but I do have a good income around 3500 per month and will have a good cosigner with a 788 credit score.
What are my chances of getting approve? I will be applying for creditcare.
Any girls have any experiences or knowledge with loan or credits?
Thanks so much!
Re: Boob Job : Bad Credit but has income and has good cosigner
first question ... is your monthly income 'verifiable' ? Under new regulations, every loan company is required to verify your income level via some 3rd party means ... with the most common being the income reported on past years' tax returns.
Re: Boob Job : Bad Credit but has income and has good cosigner
Hi Melonie
I don't think my income is verifiable as in W2 or taxes, but I can show bank statement of the direct deposit from the company I work as a independent contractor.
That would decease my chances alot :( damnit!
Re: Boob Job : Bad Credit but has income and has good cosigner
yup, while bank statements aren't 'worthless', from the lender's standpoint there is no way to officially connect the money used to make the deposits with money actually being earned from a 'regular job'.
And if there also aren't any tax returns reporting official income that corroborate with the bank deposits, the lenders are probably forced to assume that the money being deposited might actually be from 'personal loans' or from other 'one-time' sources ( like the sale of personal property ) that don't actually establish an ability to make loan payments on a regular basis in the future.
Another issue of course is the fact that all plastic surgery loans are considered to be 'unsecured' ... i.e. the lender can't repossess your breast implants if you stop making monthly payments ! 'Unsecured' loans have the highest rate of delinquency / losses for the lenders, and as such lenders are increasingly wary of the credit risk of would-be loan applicants.