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Topic: Help! I have bad credit!
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grrr
rabble-rouser
Babbler # 275
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posted 16 August 2001 09:31 PM
All of what Slick said. Especially the credit cards. They must go.One more peice of advise: if you have reached the point were credit agencies are hounding you, see a bankruptcy trustee. This does not mean you must declare bankruptcy. They will assist you in consolidating your debts and getting your finances under control. The other upside is the harassment by credit agencies will halt. Should they call, you refer them to the trustee. The calls stop. The trustee provides you with the counselling, support and assistance required to get your debts under control and salvage your credit rating.
From: Toronto | Registered: Apr 2001
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ergotist
rabble-rouser
Babbler # 1176
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posted 17 August 2001 02:24 AM
o my gawd Audra! you are asking the very question i've been asking alllll day ... the advice given above is commonly given to folks in need of reestablishing credit ahhhhhhh BUT!! did you know that simply being rejected by a lender for a card ... personal loan ... whatever ... is just another stain for equifax to put by your name??! due to privacy legislation none of the details of that stain are supplied to anyone looking for your credit record .... no amount, no source, no nothing. just default, default, default, default, rejected, rejected, rejected, rejected ... get the picture? so you go off and apply for a little visa card so u can buy a toaster and pay it off and be a good little consumer debtor only they turn u down ... that factoid goes straight to equifax ... and again and again and again! all those bastards care about is what you did wrong. not what you did right. reestablishing credit has become as paradoxical as getting your first job. you can't get one without experience. how do i know all this? as i reported in another thread me and himself are frantic to raise a small sum to buy trees from his mother that she has to sell ... and we weren't perfect either. underemployed, unemployed, underemployed again .... late on the phone bill ... late on the power bill .... ten years ago he had a lousy credit card .... i bankrupted on my mountainous student "debt" ... yada, yada ... so now we're after a personal loan to get this land ... a personal loan we're in great shape to pay off. but those f$ckers don't care. they smell old baaaaaaad credit. we're filling out one online app after another ... then i talk to my buddy in Halifax .... she's got a buddy who works at the bank in Grand Mannan and what does she do? loans officer. she has to turn her neighbours down every day of the week. there is one thing you can do which the bank won't tell ya ... get a secured credit card. you give them 1,000 bucks. they put it in a gic and keep it. you get 1,000 in credit and use it responsibly ... little chunks paid off on time ... then you've got a fresher cleaner credit history. mmmmm .... smells downy fresh. it's one big $f$ckfest boys and girls and we're all takin' it but we sure as hell aren't gettin' any. we have to go ask my sister to cosign. siiiiiigh .... bastaaaaaaaaaaards! 
From: RaT World | Registered: Aug 2001
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grrr
rabble-rouser
Babbler # 275
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posted 17 August 2001 02:37 AM
I hear you. My knowledge comes from experience.I was the perfect consumer for sooo many years. Lots of credit cards, line of credit, store cards, etc ... never missed a payment.
Then, in 1989, I decided I wanted to complete my education. Graduated in 1992 in the depths of recession. Went through my savings looking for work. And then I began to miss some payments. Well, 10 years of perfect credit means shit. All that is important is that one, short, rough stretch. Like judging an entire life the one time a person slipped on the ice. Now, I am doing much better. I own a little bit of property, I have some RSP's, and I am saving for my own home. As for the banks, screw 'em. I pay cash when I can. As much as I can do, I do through ING Direct. Yes, they are a bank. But they are not one of the Big 5. And should they ever be bought out by one of the Big 5, I will move my money and banking again. Because I have judged them on the one time they judged me. And they failed.
From: Toronto | Registered: Apr 2001
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Victor Von Mediaboy
rabble-rouser
Babbler # 554
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posted 17 August 2001 02:18 PM
DrConway: That on-line stuff is dangerous. Ebay is like electronic crack-cocaine for me. My OTHER credit card (the MasterCard with the $2500 limit) is smoking thanks to all the ebay activity I've put on it this month.On-line shopping's too easy, and with the shipping charges, I never want to buy just ONE thing. I feel compelled to buy a whole bunch of stuff at once, just to justify the shipping & handling. When I go on Sears.ca, the temptation to buy a whole new wardrobe is pretty darned strong. I have the same problem with Chapters. Why buy one book and pay for the shipping when you can get a BUNCH of books and get free shipping? On-line retailers can be damned sneaky. Still, I might try out a local on-line grocery store. The only problem with them is that they don't offer very much vegetarian food.
My gf tells me that she isn't tempted by on-line shopping at all, especially for clothes. She's amazed that I can by clothing that fits via mail-order. For men, it's easier (waist size, leg length, neck size, bingo!). The sizing of womens' clothing is way too wonky for them to buy clothes without trying them on.
This isn't necessarily a bad thing, in my view. If you have to go through the trouble of trying clothes on, maybe you wouldn't buy so much? [ August 17, 2001: Message edited by: Kneel before MediaBoy ]
From: A thread has merit only if I post to it. So sayeth VVMB! | Registered: May 2001
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ergotist
rabble-rouser
Babbler # 1176
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posted 17 August 2001 03:38 PM
Dawna Matrix ... mmm ... u point to a curious sub-paradox in the credit/badcredit universe ... on the surface - no credit is bad credit and "bad" credit is bad credit and rejected for credit adds to bad credit causing further rejection for credit .... under the surface are strange practices like the instance recounted by my sweetheart's auntie who'd applied to her bank, TD, for a line of credit and been promptly denied. Not long after she found herself in Walmart (not sure why and good family relations precluded my asking) but inside the Walmart compound she spied a table with a TD sign on it where one might apply forrrrrr ... credit. On a whim she did. She was granted 11,000 beans worth (which she later declined). her fiscal situation had not changed between bank and Walmart ... what do we make of it? During frosh week on many a university campus a raft of credit card hawkers may be found in the lobby of the student union building happily giving away credit to any plain-pasta eating pauper student who stumbles into their web of lies ... at least, this was the case in my post secondary school daze early to mid 90's ... this is a sticky, sticky web indeed ... households are targeted for mail-in applications based on the demographic most representative of the neighbourhood ... we're on the arse's edge of rosedale and so have received plenty of those thru the mail slot ... i guess pre approved credit on your doorstep implies that your credit is good ... likely because the automatic trigger which stains your name in the equifax database was not released ... why, though u were late? i do know that each entity with whom you have a credit based relation ship sets it's own standard for default ... power and phone and the like may need to be more deeply arreared than you permit yours to fall ...no, it ain't right. what the f$ckers are after are as many drones in the cashless hive as they can squeeze - because credit is where their profit lies - the interest they earn on the impulse to consume. the purpose of the over-arching paradox ... is ... from my paranoid fantastical perspective ... is to eliminate those who don't fit neatly and cleanly into the hive - those who can't or won't. divide and conquer. [ August 17, 2001: Message edited by: ergotist ] [ August 17, 2001: Message edited by: ergotist ]
From: RaT World | Registered: Aug 2001
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Michelle
Moderator
Babbler # 560
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posted 17 August 2001 05:34 PM
quote:
Somewhere along the way, my CIBC VISA was raised to... get this... $3 500! This, with me having a student debtload of about $30 000! They must have been desperate.
I know what you mean. I had a limit on my CIBC VISA of $5,000, and a couple of months ago, after using it extensively to pay for moving to my new place, and paying it off immediately, they automatically raised it to $7,000. I found out on my next VISA bill. Couldn't believe it. I'm a student with no income whatsoever except OSAP, which they don't consider income since it's actually a debt. Go figger.
From: I've got a fever, and the only prescription is more cowbell. | Registered: May 2001
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grrr
rabble-rouser
Babbler # 275
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posted 18 August 2001 01:52 PM
I agree with not avoiding phone calls so long as the calls are originating from the people youowe money to. If the debt has been sold to a credit agency, however, please do see a credit counsellor.Credit agencies are not interested in your well being. They don't care if paying them means you cannot feed your kids or pay the rent. They will not let up. If you agree with a payment plan, do not assume it is over. They will be calling back soon demanding more. See a counsellor, get a trustee, get some protection and peace.
From: Toronto | Registered: Apr 2001
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