British Expats
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British Expats (https://britishexpats.com/forum/)
-   The Trailer Park (https://britishexpats.com/forum/trailer-park-96/)
-   -   Debt Score (https://britishexpats.com/forum/trailer-park-96/debt-score-925656/)

BEVS Aug 10th 2019 2:45 pm
Re: Debt Score
 
Originally Posted by RICH (Post 12721506)
Hey Justin
Don't take it to heart. The fact is it is hard. Most people on here big up their big moments. Some of us just barely get by but don't post the worst bits. I know you mostly post the worst bits and it helps
me keep a perspective.. Your opinion & experience are noted and not to be disregarded. Hang in there
RICH.
Lovely post to J . I agree.

tom169 Aug 10th 2019 3:14 pm
Re: Debt Score
 
Originally Posted by moneypenny20 (Post 12721522)
What world do you live in where any of those things are realistic for a vast percentage of people? Tone deaf to reality.
Each to their own.

civilservant Aug 10th 2019 9:50 pm
Re: Debt Score
 
Originally Posted by RICH (Post 12721506)
Hey Justin
Don't take it to heart. The fact is it is hard. Most people on here big up their big moments. Some of us just barely get by but don't post the worst bits. I know you mostly post the worst bits and it helps
me keep a perspective.. Your opinion & experience are noted and not to be disregarded. Hang in there
RICH.
I am not suggesting that people don’t make mistakes. Ive been here 6 years, after my divorce 5 years ago I racked up nearly $25k in credit card debt. I paid minimum payments on it for years, I don’t know, and don’t want to think about, how much interest I was paying.

My FICO score was about 600 because of maxed cards.

i finally paid it off, after working every hour I could for a year, just a couple months ago and am now saving for a down payment for a house. FICO score is now 787.

i don’t blame people for their mistakes, but they should pay for them.

johnwoo Aug 11th 2019 9:25 am
Re: Debt Score
 
Originally Posted by civilservant (Post 12721613)


I am not suggesting that people don’t make mistakes. Ive been here 6 years, after my divorce 5 years ago I racked up nearly $25k in credit card debt. I paid minimum payments on it for years, I don’t know, and don’t want to think about, how much interest I was paying.

My FICO score was about 600 because of maxed cards.

i finally paid it off, after working every hour I could for a year, just a couple months ago and am now saving for a down payment for a house. FICO score is now 787.

i don’t blame people for their mistakes, but they should pay for them.
I made the mistake of co-signing and now I'm paying for it. The other side of the same coin.


SpoogleDrummer Aug 11th 2019 1:29 pm
Re: Debt Score
 
Originally Posted by johnwoo (Post 12721870)
I made the mistake of co-signing and now I'm paying for it. The other side of the same coin.
Has the person you co-signed for defaulted on their loan or is it just the lack of credit now available to you?

Giantaxe Aug 11th 2019 4:01 pm
Re: Debt Score
 
Originally Posted by SpoogleDrummer (Post 12721933)
Has the person you co-signed for defaulted on their loan or is it just the lack of credit now available to you?
Or lower credit score leading to higher interest rate. Or all three...

johnwoo Aug 11th 2019 6:28 pm
Re: Debt Score
 
Originally Posted by SpoogleDrummer (Post 12721933)
Has the person you co-signed for defaulted on their loan or is it just the lack of credit now available to you?
Regularly delinquent, actually, I have no credit card debt other the one I co-signed for and it's nearly double the original amount.

civilservant Aug 11th 2019 10:34 pm
Re: Debt Score
 
Regularly delinquent, actually
Ouch. The worst kind. If you co-signed have you considered contacting the bank and asking them to close the account? Of course this won't help with the outstanding balance, but at least it could not be increased and you would stop the bleeding on your credit.

Is it just 30+ lates or 60+/90+? The 30+ will hurt, but a 90+ will devastate your scores.

SpoogleDrummer Aug 12th 2019 3:42 am
Re: Debt Score
 
Originally Posted by johnwoo (Post 12721988)
Regularly delinquent, actually, I have no credit card debt other the one I co-signed for and it's nearly double the original amount.
Does the bank contact you every time to give you the chance to pay before it hits your credit score? It amazes me how people can do that to someone who did them a favour and co-signed for them. I'd go without food before missing a loan payment especially if someone else had co-signed for it.

johnwoo Aug 12th 2019 4:20 am
Re: Debt Score
 
Originally Posted by civilservant (Post 12722060)
Ouch. The worst kind. If you co-signed have you considered contacting the bank and asking them to close the account? Of course this won't help with the outstanding balance, but at least it could not be increased and you would stop the bleeding on your credit.

Is it just 30+ lates or 60+/90+? The 30+ will hurt, but a 90+ will devastate your scores.
I've got to a point where Credit score be dammed, at this point I really don't need credit.
I don't foresee any major expenses. There comes a point when enough is enough.

Originally Posted by SpoogleDrummer (Post 12722191)
Does the bank contact you every time to give you the chance to pay before it hits your credit score? It amazes me how people can do that to someone who did them a favour and co-signed for them. I'd go without food before missing a loan payment especially if someone else had co-signed for it.
Unfortunately I don't find out until after the fact, Oh he doesn't go without just the opposite, Just bought 3 new i Phones for himself his partner and her 13 yr old daughter.

Probably said more than I intended, but somehow it's therapeutic . :(

spouse of scouse Aug 12th 2019 4:24 am
Re: Debt Score
 
Originally Posted by johnwoo (Post 12722210)



Unfortunately I don't find out until after the fact, Oh he doesn't go without just the opposite, Just bought 3 new i Phones for himself his partner and her 13 yr old daughter.

Probably said more than I intended, but somehow it's therapeutic . :(
Nothing useful to add, I just wanted to say that you're obviously an intelligent (and nice) person and would have only co-signed because you were confident in the person's integrity - I'm really sorry that they've done the dirty on you :(

Giantaxe Aug 12th 2019 4:48 am
Re: Debt Score
 
Originally Posted by johnwoo (Post 12722210)
I've got to a point where Credit score be dammed, at this point I really don't need credit.
I don't foresee any major expenses. There comes a point when enough is enough.
You are also at risk of stumping up for the card balance if the credit card company decides to pull the plug for payment defaults. Of course, they may simply prefer to keep racking up interest and penalties on his account, knowing they'll likely get their money back from you if need be. I don't envy your situation.

johnwoo Aug 12th 2019 7:26 am
Re: Debt Score
 
Originally Posted by Giantaxe (Post 12722231)
You are also at risk of stumping up for the card balance if the credit card company decides to pull the plug for payment defaults. Of course, they may simply prefer to keep racking up interest and penalties on his account, knowing they'll likely get their money back from you if need be. I don't envy your situation.
On top of all that Chelsea got thrashed by Manchester United, life's not fair.

RICH Aug 12th 2019 1:32 pm
Re: Debt Score
 
Originally Posted by johnwoo (Post 12721988)
Regularly delinquent, actually, I have no credit card debt other the one I co-signed for and it's nearly double the original amount.
I feel the pain, but not sure a credit card (unsecured) is the same as a mortgage, and as I said- be able to take the hit.

johnwoo Aug 12th 2019 5:26 pm
Re: Debt Score
 
Originally Posted by RICH (Post 12722389)
I feel the pain, but not sure a credit card (unsecured) is the same as a mortgage, and as I said- be able to take the hit.
Being able to take.the hit is one, being let down by someon close is another thing. But yes time to move on.
I'm going on the Judge Judy show. ;)


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