Credit Check ???

[Sunshine66]

Wonder if anyone can help me: I paid the deposit via phone almost a week ago for 185 points at SSR and now am waiting my contracts. Since my Guide said they would be here within 4 - 5 days - I was begining to wonder if something happened. I've been following the CREDIT DECISION Thread and it's got me worried about my credit score and a possible problem. I had a problem back in 1994 and it has been cleared - but it is almost always questioned when applying for credit. So my question - should I expect a call from underwriting - before or after the contracts arrive? I have no doubt that I will be approved just waiting on pins ( maybe I should hold off reading threads about credit till I'm approved ! )

Hope to be a DVC owner soon.

PS: This has been the best website for information !

 

[sagwanamu]

They will FedEx the contract package to you. Once you fill them out and have signed and notarized, you FedEx back to them along with the Credit Application (it's very one page short form). Once they get your FedEx, they will run your credit report and make decision. I got my decision within the same week (fedexed on monday and received approval letter on Friday).

I heard that they will ask for more downpayment (30%) if there is a credit problem and it may take a few weeks.

 

[RAD]

DVC has a bit more leverage on granting credit to folks that might have a low score or a problem in their past. Since they aren't selling you something you're taking away and can't return all they have to do is cancel your membership if you don't pay your loan or dues.

 

[Alexander]

I just got off the phone with my guide this afternoon. She said it's been very busy. I also noticed through my phone calls and posts here that several guides have been out of the office for medical reasons. She is sending me a package FedEx and said I may not see it until next Monday. I'm sure your package will arrive soon!

 

[carol1231]

Have you notified your Guide that your paperwork hasn't arrived? I know that it usually takes a couple of days until they send out the fedex package and then depending where that falls during the week may make a difference. But by only giving them a deposit and not sending back a credit application, they wouldn't have checked any of your credit at this point.

I would just leave a message for your Guide.