A financial DVC Q about Debit - Credit Ratio

[sanilacjack]

My DH and I are looking into buying into DVC. We have put a deposit down and received our paperwork. We just have one question.
We both currently work and have a decent debit – credit ratio. But….In the next year or two we would like to have another child, which at that time I will take a leave from work for about 1-2 years. I did this with our first and we, as a family, feel very strongly about.
My question is when I’m off work our ratio will not look as great as it does right know.
There has been talk on the boards that a DVC financed loan doesn’t show up on a person’s credit report. Is this true?

With the dvc contact, we wouldn’t be spreading ourselves thin by no means even if I wasn’t working, I just don’t want to get locked into a DVC contract and have something come up down the road and be stuck. I hope I make sense? I know that you all understand what a big step this is.

 

[magicmouse2]

I dont know about the US but in the UK our DVC loan does not show up on credit reports. I did pay 33% cash deposit on our financing though to keep repayments low, even though I didnt have to.

 

[disneynutt1225]

It does not show up on the credit report per se. It shows up as an inquiry, but it does not report. Make sense?

 

[gppnj]

What I've heard is consistent with the other replies. However, I have heard that DVC will report your information to the credit bureaus if you are seriously late or delinquent. I doubt that will apply to you, but it's good to keep that in mind just in case.

 

[Rence]

Yep, when you apply for the loan, it does show up that DVC inquired about your credit, just as if you applied for any type of credit. I believe that inquiries don't stay on your credit report for a long period of time.

After that, nothing shows up on your credit report unless you get into serious trouble with the loan.

 

[sanilacjack]

Thank-you to everyone who replyed.