... comes with 3 new credit cards, No-questions asked pre-approved NEW car lease AND a Jumbo Mortgage* (* - no current employement records needed)
There was a big bill board sign up by Grand Rapids Michigan on 131 that advertised the same thing. I always laughed when I saw it as I was driving by. Mike D.
Yeah, I still get 3 different ones every year. Haven't used one in years. How do you stop them from coming?
The ones I used to get had a number on the back you could call and remove you name. I kept them coming though. We always used them for targets and fire starters.
Right?! So far in owning my own business since May of 2006 I've lost a little over 10k (just off the top my head) from accounts filing bankruptcy. It just doesn't seem right. But I guess it's all about "spreading the wealth"...
My girfriend works with a school administrator who makes 100K+ and has filed twice. Buys a new Mercedes SUV and just lets it get repoed when it starts to need work. Then goes out and gets another one. How does that work??? Maybe since she is a minority they don't want to deny her???
She may make 100K but her credit is shot to pieces. Car dealers are willing to lend to anyone to make a sale but I'll bet her interest rates suck.
She probably doesn't care about the interest rate since probably only pays them for a year or two then repo..... I've never had a car payment but then again my newest car is 15 yrs old.....
Bankruptcy and the concept of bankruptcy are both in the US Constitution and the Bible. I'm sure it sucks to be on the receiving end but it does serve a legitimate purpose.
You are right, but the irony is that a lender cannot protect him/herself against default by charging a high interest rate. In fact, the reverse is true.
I spend over 5K a yr to be in the local yellow pages book. Even in this day of the internet and google searches I still get about 90% of my new business from the yellow pages. However, My cost seem to go up 15% every year and my add stays the same. Go figure:idea2: Local radio spot for Dale Earnhardt chevy/Buick in Tally keeps spouting that they got a customer with a 420 beacon score approved for a new car @ 4.9%. I dont think anyone with a 420 should be getting a loan at any interest rate. Theres a reason they got that score. Lending practices like that is what caused all the foreclosures a few years back. It will happen again sooner or later.:Smarty:
An old boss used to say that money can't buy poverty.... On a similar note, a guy I know went through bankruptcy and I asked how he was paying for the lawyer...he said the lawyer took his personal check. I thought that was odd since he became a credit risk to all.
Jeff- Obvious it is the law. Can you recite where it is in the Bible? And I mean that hole hearting. Can you explain the legitmate purpose? Three of the four times I was involved with bankruptcy the businesses failed and or ended completely soon after. The fourth did the right thing but had to "under the table" pay me back a hundred bucks a month for 38 months. Meaning he could not do the "right thing" legality. What does that tell you? He had the way and will all along... I grew up poor. started working when I was ten'ish (don't remember exact age). Could not offord college so continued on in the work force and put in the hours. So now I am where I envisioned myself to be at and no where in the journey would I and never will do that (file bankruptcy). It effects too many people in a bad way...
Agree with just about everyone here and that is why I said affordable irresponsibility. Generally speaking, I think there is now a culture shift to not "own" up to your responsibilities. I have seen it with in my own family. It isn't acceptable and holding anyone accountable seems taboo now. Seriously, "bad credit not credit no problem." wth, It should be "bad credit no credit, no problem we accept cash."
Exactly! Bankruptcy was originally for those who incurred financial disaster when they were actually trying to make a living and crap happened. Now it is used by too many low-lifes to acquire things and have everyone else pay for them. My wife's former executive secretary made a good wage. She bought a house, had it remodeled extensively and completely furnished it. Then filed bankruptcy. Her only regret was that she didn't buy a new car first. Great (?) example of abuse. I know of people who had homes repo'd and, in just a few years, purchased another, got it financed and received a good interest rate. System totally sucks.
