 How to start building credit??? |
| I am a college student and I want to build my credit so that I can apply for a car loan without my parents. I know that if I get a credit card and use that and make the monthly payments, this would ... |
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 I am 30 years old, and I found out I have cancer. I have less than 1 year to live.? |
| Right now, I have about 10k in credit card debt, 25k in student loan debt, and 8k on a vehicle loan. I have no assets except a few grand in a 401k. I am unmarried, and I'd like to know what ... |
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 If a person dies owing money, what happens? |
| If a person with no remaining family members dies without a will and having only five hundred dollars in the bank but owing thousands to credit card companies, what can the card company do about it? ... |
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 Can someone please lend me £1,000,000,000,000,000,00... |
Just until tomorrow please.
Oh and can I have it in 50p's please.... |
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 How can I tell my husband that I ran up my credit card? |
| Over the past 6 months I have racked up almost 80k on my American Express Card. I don’t know why but I just went spending crazy. I have bought everything from jewelry to sexy clothing that I can’... |
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 What' the difference between Debit and Credit? |
| What' the difference between Debit and Credit? When I use my Visa debit card at the store they ask me if I want to do Debit or Credit. What are the differences?... |
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 My kid wants a prepaid visa debit.? |
| ok this is a tricky one. my 15 year old wants a debit card that you can use online or in stores. i dont want to pay a start up fee. he doesnt want one that is a savings only. and he doesnt want a ... |
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 What can a 750 credit score get me? |
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it was a pretty general question. i knew i had a 750 score for the past 2 months but i never fully understood what the big deal was. thank you all for your advice. i ... |
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 Whats the difference when useing debt and credit on a atm card? |
| I just got my atm card from my bank, but im not sure witch is best for me to use it as, debt or credit? what is the difference?... |
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 I am about to be 18 and have good credit. i need to know if 16.97% interest is high.? |
and does anyone have trouble with capital one?
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okay so iam 18, so 6% insrest isnt going to happen. please dont write about your self.... |
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 What is the best credit card? |
| I am an 18 year old male from the states looking to get a credit card to build up some credit, who should I get a card with, there are just too many companies out there right now for me to decide (I ... |
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 What is the best way to lower my debt? |
| I have a consolidated student loan that's about 12,600 dollars. I also have credit card debts totalling around 9500. I have considered getting a loan from Primerica in December (that's when ... |
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 Is a APR of 19.8% good? |
| I just got a credit card and on the paper i got in the mail it said that my APR is 19.8% but the thing i want to know is if that is good or bad???? can someone help ... |
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| How poor am i....? |
| if i dont have enough to pay my power bill. from 1-10... |
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gizmo2 | Who else is sick of your being judged by your credit score? |
The Housing market is in a mess with all the foreclosures now, and since all of this has happened numerous mortgage companies have had to fill bankruptcy! Now, no one with less than a perfect credit score, and no, not even a cent in outstanding debts can be approved for a loan, unless it is one of those super high interest loans that has caused all the problems in the first place! We just lost our pre approved loan because of all the new changes and because we owe a small amount of medical bills. Who ever came up with this stupid thing called a credit score took away all the fairness in everything!!! No, I don't believe people should not pay their bills, but sometimes you have situations in your life beyond your control(like medical). We should all have the right to own a home, the American dream. As long as we make the payments it should be our right! Not be judged by a score only without looking at the situations! What are your opinions on this subject?
Additional Details
Emily Dew, We didn't just pick and choose who we were going to pay. Yes, you do have to make a choice whether to EAT, PUT GAS IN YOUR CAR AND KEEP THE LIGHTS ON over other bills that were an emergency to begin with. I did not say that we were not paying them, they would not work with us and wanted all of the $ up front! As far as a cruise that is different than a home and yes I would take into consideration their problems and act accordingly. Thanks for your opinion. |
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Ray S
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that is the way this country operates, why else is everything made in japan and there are more chinese restraunts than macdonalds. we enjoy beating each other up based on a score that no one can figure out. the amazing thing about it you don't need a good credit score to die for your country, the same country that will not give you 5 dollars for a loan. hang in there when it hits the right people the credit score will be obselete |
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Jeff H
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The only thing that I can recommend to you is to shop for a lender that does old fashioned "Manual Underwriting". Such companies still exist. |
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Right on
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Yes I totally agree..... who has the right to judge me by a credit score.......... it's just another way the greedy to push the middle class to a lower class... Credit Scores are not in any way accurate.. they throw out the high and low scores anyway.... who ever started this credit mess should see prison time... you see you had a few medical bills and look what they did to you. I had the same problem. |
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Exitwound
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The idea is good, they just aren't using it right. I didn't have a good credit score through my 20's because I paid for everything in cash; so it took me forever to get credit. I wouldn't spend the money if I didn't have it. A friend of mine filed bankruptcy, and 6 months later ever major credit card sent her pre-approved applications. They don't want people who can make the payments, they just want people to spend. |
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gc10k
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Our current credit scoring can be some what unfair.
I wish that we could all get together and score citibank capital wells fargo and the rest of the deceiving credit card outlaws who have contributed to this problem. |
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cireengineering
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I agree. |
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redboomerdog
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I think it's ridiculous. |
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ben h
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I agree with u completely there are some very good people out there that are honest and willing to do whatever it takes to take care of their families but that means nothing when it comes to a score. |
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Yamadog
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Sorry to hear that, but credit carries with it the history of payments. It's cold, relenting, and contractual. It's sad that pity is not a factor, it's quid pro quo. and a business. Good business is rewarded with more business.
So too with your personal life despite issues such as health or (gasp) luck. Be that as it may, besides the mortgage there is insurance AND taxes. Whoever backs you will need a profit for their business. It is really nothing personal.
I suggest keeping a cool head and not think that anybody owes you. Money is a medium of exchange. So I suggest you ask your bank for advice, and do it with a curiosity requisite for a solution |
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Mike G
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some people are just huge ******* lol. anyways, yeah i get sick of the credit score thing. My credit is pretty much perfect. I have a good job that i use to pay for my school and my medical bills. I am also a big spender. My credit limits on my credit cards are about 2000 for one and 2500 for the other. Every month i put about 1500+ on my credit cards but i always pay the balance in full. Ive had my cards for a long time and they still wont raise my credit limits. I need them raised for my medical bills. They always say i dont have enough credit history! Give me a break! Im someone that always pays my balance off and its always way early, but people that just pay the minimum balance get way more of a credit limit and their limits are always being increased. I feel like im being punished for being smart with my money and paying my bills!
Although i am not in your shoes with buying a house and all, i do understand how unfair it is anymore. Its a shame that your pre-approved loan was cancelled on you. I know how it is to have to pay medical bills and such.
If i were you, not sure if this is what you want to do, but just stay where you are if possible and wait for all this housing mess clears up. Atleast you wont sign a loan with a high interest rate and get in more money trouble. Just my opinion.
Hope i helped your venting |
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donna_scouts
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I am in the same boat as you and mine seems to be taking on more water than I can handle. Due to a medical illness last spring we ended up getting 2 months behind in our mortgage and our mortgage company won't give us any assistance despite the fact we have over $30,000 in equity. We had to renege on paying our credit cards and try to keep up the house payments but are still 2 months behind. Our credit rating is below 500 so no other company will touch us. Our mortgage company keeps sending us notices that they are going to foreclose even with the forbearance request we submitted last month. I can never get a real person to to talk to there, I am always being sent to a voice mail box. Anyway, was hoping you got some advice from someone else that may help me. I didn't read anything in these answers. If you did get something please email me at dooleywed@yahoo.com. Thanks very much. |
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Victort
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Did any of you who gave insensitive judgmental answers even read what this person was saying? They did not want an expensive "dream home" From what I see they have been through a bit of bad luck and now they are having to pay for because of the outrageous attitudes and blanket policies of those who are in the capacity to loan monies, etc. Oh, and the first guy with the 800+ credit score...how did you ever get credit in the first place? You do know that you have to fill out paperwork for that. I just wondered because to do that you have to be able to SPELL you insensitive twit. I apologize to the asker, I did not mean to take your question and use it as a sounding board against the foolish attitudes of others. In answer to your question, yes, I agree. My credit could use improvement but it is not bad per se. I can see how it could go that way quickly though. Most people do not realize that they are only a paycheck away from being homeless. If an emergency comes up that is just what it is AN EMERGENCY. Hear that people? (ok one more to one of the answerers out there) What if you were unconscious? Would medical care be a choice then?) Anyway, I can see how hard some people have it. I think the problem is that nobody takes the time to learn the background or stories from individuals anymore. We are all just numbers now. Good luck, I hope you find a home. |
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cool person
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yes i agree! i worked in the mortgage company, there so full of them self with this prefect credit, even the loan officers are so full of crap, they are even looking for the prefect mate with the prefect credit score, no lie! it made me sick! bunch of robots! |
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UPESKYMO
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I do believe that the American Dream is Gone With The Wind. Thank you President Bush. I also do not like being judged on only your credit score. When kids graduate from college and are ready to go out into the world, a lot of these kids do not have credit. End of getting your own apartment. You need good credit to get an apartment also. How about a good job? There to you are judged on you credit. Hard to believe, but this happens. I am not sure where all of this started, but I don't like it at all. And yes there are situations in a persons life where you can not afford to pay the whole medical bill and have to pay in payments. My husband was in-between jobs and my daughter was in the hospital. Huge bill and no insurance. You can't pay for $30,000 right then and there. We had to make payments. But of course we were constantly being buged about paying the whole thing off. There went our credit score out the window. Oh Well! I don't like any better than you do. I really believe we will end up having the very rich and the very poor. No more middle class. What a dirty shame. Americas dirty little secret is coming out little by little though. Somewhere it has to stop. There will be no one in there own homes at this rate. This country is going to hell in a hand basket. I love this country, but we need get things back to the way they were. |
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Mel
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Yes, sick of it!!! I'm sure it is also based on gender. My bf has a great score and pays bills late, didn't have credit until he was 30 years old. Myself, I've been a responsible credit card holder for the last 10 years, sucessfully paid off five cars, and paid three bills late during that whole time and more than 4 years ago and his score is better than mine. It's all crap! Some man is sitting in an office somewhere just pulling number out of a hat.
(For all the people who say, you shouldn't try to buy something without paying off what you owe; true, but you have to have a place to live, so you are paying rent, if you could buy your house pay the same amount you rent for, then next year you can refinance and pay off all your bills. Moral of the story, people can't live on the street because they have a few bills they can't afford, but it is better for the economy if we buy homes and are able to pay bills.) |
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Wayne
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How would you run it? If your a financial institution what levels of financial requirements would you require? I can very much understand your views.
Can I rent a room from you in your house, even though I have bad credit, and a bad credit history?
I know that's not you, but they, as every business has their requirements and level of requirements that have to be met. |
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pike_mazter
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Well I have figured out that the only way to getting around this is to move to Canada. Of course with that comes other drawbacks. Sorry. I Love you baby! |
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g5z6b1
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yeah i am |
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sophieb
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since I'm a real estate agent I'd love to see the figures on that to determine if you really can afford a home or not before I make any determination on whether I would think a mortgage company would approve your request or not. If the mortgage company said yes, but after everyone elses foreclosures they said no to you, then it's clear that you didn't meet the requirements.
I think that in good economic times everyone tries to get in on making money from other people, and this clearly was the time scammers took advantage of people. I feel they were wrong in offering ARMs and knowing that people could not pay the balloon payment, and that they were looking out for themselves to keep themselves employed and able to support their own families. Sometimes that's life. But in past years that same kind of thing transpired and people were hurt, but this is a new generation who all they could see in their eyes was the "American dream". Let's say that you and your husband earned $35,000 apiece. Then safely you could afford a home worth $70,000. The cost of an average home though was $120,000 and increased to $200,000 over the past five years. So that would have meant that you couldn't safely afford a home until somebody (one of the two of you) earned $165,000 a year. That was just a "scenario" I provided to you. I have no idea what your finances are.
When a realtor has a home for sale and they are looking for a buyer, or a buyer comes along to buy a home, the very first thing a realtor does is to send them to the bank or mortgage company "of their choice" to determine what their creditworthiness is. So you see, the problem was the bank or mortgage company allowing people to think they could afford a home when they could not.
Renting an apartment is not a bad thing.
The government isn't going to bend over backwards for those who are being foreclosed on. However they are trying to give people time to get another mortgage to be able to "save" their home (whether or not in the future they really can afford it or not).
PS...people aren't coming back to your question to see your response (if you have one then email it), so voicing your opinion of their opinion doesn't reach them or solve anything. It only allows you to vent. Venting isn't for the Q&A board. Asking and answering is. |
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av.8tor
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Welcome to the real WORLD. The great thing about America is if you don't like something you can change it. A long time ago a person could walk into a store or a car dealership, speak with a knowledgeable sales person shake hands and leave with product on credit. This process required building a relationship with local retailers which is code for everyone being in your business. One day someone decided that they didn't want their neighbors to know everything about them and wanted the freedom to buy from anyone. Thus they developed the credit rating system. Later it was determined the system wasn't very fair and revised the system to the current one today. The point is if you don't like it, change it. The problem is that know one has a better idea. They only want to complain about how unfair it is.
I recently filed bankruptcy. It was the hardest thing in my life to do and I will pay for it for the rest of my life. Most importantly it FORCED me to take an honest look at my finances and myself. I made very bad decisions regarding money and thought it was the system out to get me. If you really look at it you will see the problem is not the system, but you. Everyday millions of people apply for credit. Many with less than perfect credit are approved, why because they arrived at the realization that credit is a privilege and not a right. They reviewed their budgets, they tracked their spending and they were honest with themselves about the current state of their finances. They made the necessary changes to FIX the problem, corrected their spending habits, reviewed their histories regularly for errors, and set a goal for what they wanted in life. No one said it would be easy or fair, but today it is the only system that we have and until it is changed you have to work within it. Take advantage of the tools you have. If you are being denied credit by one source then it is a system problem. If you are being denied credit by all sources, then it is your problem. I advise speaking with your local loan officers and bankers and asking what you can do to improve your credit situation in the short term. Review your report for errors and speak with everyone you owe money to. The key is to address the problem and not complain about it. Once you have a plan in place, go back to you local bankers and speak with them again. You may need to downsize you dream house to a starter home to show you can make a mortgage payment and then UPGRADE. Keep the starter home for additional income, and you will be well on your way to building wealth.
In the long term, PAY YOUR BILLS, and I mean all your bills important or important. Even a small payment is an attempt to pay your debt and shows good faith. Keep your head up and faith in God and all will be ok when the time is right for you. Hope this helps and good luck. |
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Authority On Credit
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Hello,
I do understand your frustration, but it is not permanant. You can overcome anything with some help and guidance or pure hustle. If you need help with anything such as understanding your credit reports go to WhatTheFrank.com. |
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tisoy510
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I'm sick of it too...BUT! In this day and age (especially the U.S), credit is GOLD, whether you like it or not. To family and friends, they see you as a million bucks. But to the banks and people with the money, you are not. If you don't have a good credit score, stop trying to live like you have a credit score of 800. Don't try to stand where people think you should be, or where you yourself think you should be. STAND where you really are, and then build yourself up from there. Otherwise you'll find yourself in disappointment 24-7. Money talks in this country and for those people to hear you...you gotta have some money. Make payments on those debts. It won't disappear on its own. Economize your spending. And fight like everybody else. Then one day you'll buy that dream house, but I tell you, that's a whole other story. |
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MISSY E
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Yeah I think you are right. It is not fair that everything that happens in your life revolves around your credit score. I beleive that people who pay health insurance pay more for medical then anyone else. I have to pay a monthly fee for health insurance, plus pay a co-pay plus pay for any medical tests. I had to pay $20 just to have a blood sugar test.
But this could be GOD telling you that you are not ready to buy a house, maybe he has a better one for you, maybe he wants you to get a bigger down payment. This isn't the end, you can try again. |
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Scraggles
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http://www.daveramsey.com/
https://www.mytotalmoneymakeover.com/ind...
http://www.crown.org/
It is called Financial Insolvency.
Of course pay your living costs first - consider moving and spending less in these costs.
All will tell you pay small credit off 1st, then next up - called the SNOWBALL EFFECT. Works
Buy all your food for 2 years or more, to save. You can make extra sandwiches and sell at work sometimes, other extra incomes.
Yes, YOU WILL MAKE IT. No movies, restaurants out! MAKE THAT BUDGET! |
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stephenweinstein
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Your right is limited to what you have enough money to buy (i.e., 100% downpayment, no mortgage). You do not have the "right" to borrow to buy something more expensive. |
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dryheatdave
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Having worked in the financial services market, I have to say that overall, the lower the credit score, the more likely you are to fail to make your payments on time.
Credit score WORKS. The recent tremors in the market is precisely because some predatory lenders have lent money to people, who's credit score did NOT warrant it. |
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Mike M.
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It's currently the fairest system available. There was a time when "the company" owned and rented you your home and you purchased all your "goods" at the company store. Turn your anger into determination, and get your credit score improved. You may not realize it but your credit score effects the price you pay for insurance, job opportunities, and whether you can be "bonded" for employment. I understand that people have unexpected expenses that mess up their credit. You did have control over your medical expenses. You made the choice to get the medical treatment you needed. I'll get numerous thumbs down....but staying alive by (extremely expensive) medical advances is a choice. I would probably make the same choice as you though. Most important is turn your "sick of being judged" into determination. We often feel we have no choice, but we always have a choice. Even not making a decision is a choice. Your determination will get you your "American dream"...Good Luck! |
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jessiemay
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I understand and somewhat agree but that would take a lot more time and money, there has to be a standard I suppose |
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bdancer222
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People who pay their bills on time don't have low credit scores.
It's the folks who live beyond their means and end up being late, or having repos or file bankruptcy that end up with the low scores. |
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Skip G
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The problem starts with people like you who most likely took out a loan for a house that was way too big and that you could not just to look wealthy to your friends. As far as your bloviating about credit score, I work in the insurance industry and credit score is a great indicator as far as assessing risk to a given policy holder. I know that the evil insurance, banking and oil companies are out to personally screw you over and you feel cheated. My question is why would your bank take a risk in a market that is so unstable? If people like you would live within your means and not buy a 400k dollar house, you are the reason this problem is what it is. And your comment about owning a house is a "right" is just stupid. There is no inherent right about owning a house, it is something people work towards and can afford. You should try living w/in your means or maybe some more money instead of crying about it |
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Emily Dew
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You say that as long as you make the payments, you should be able to own a home ... the Great American Dream. Don't you think the hospitals and doctors to whom you owe money think the same thing? Why do you pick and choose whose bills you're going to honor and whose you won't? True, things do happen beyond our control occasionally, but you are supposed to pay those debts off first before taking on even more debt. How would you like it if you loaned a friend a couple hundred dollars because she had an emergency and then, before even paying you back, she took a loan out to go on The Great American Dream Cruise?
I would have more sympathy for you if you had paid off those medical bills you say you still owe. |
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