Government and taxation

[Newt]

I know that was terrible to say. I probably shouldn't have said it at all.

Dang though, some people complain that everyone is constantly screwing them. While that is going on millions of people in Clay's situation or worse or sitting in the house that they own. I've screwed so many things up myself, so I can't be too harsh. The thing is though, I'm not looking to make it someone else's fault.

I think we have all been there though. The way things work now does make it hard to not get into debt. We've all made that purchase that we regret, mine happened to be a house and I'm paying for that right now. It sucks, but it is what it is. Lesson learned, don't buy a fixer upper if you aren't a fixer. Then move forward. You can't hardly pay cash for major purchases anymore. Has anyone priced a new Tahoe in the last 5 years, they are almost as much as the house I was just talking about. So you borrow money, at an interest rate that while not "fair" to some people, it is agreed upon up front. If you don't agree to it you don't have to sign the paperwork. The first vehicle I bought on my own I paid 18% interest for the first year before I could refinance, I had no credit at that point. Point being, you have to have credit to get credit or it costs you out the ass.

But put yourself in the creditors shoes, they don't know me, they damn sure didn't know me at 20 years old. Why the hell would they give me 1.9% on a loan? Its easy to understand now that I'm older.

 

[skidadl]

I think we have all been there though. The way things work now does make it hard to not get into debt. We've all made that purchase that we regret, mine happened to be a house and I'm paying for that right now. It sucks, but it is what it is. Lesson learned, don't buy a fixer upper if you aren't a fixer. Then move forward. You can't hardly pay cash for major purchases anymore. Has anyone priced a new Tahoe in the last 5 years, they are almost as much as the house I was just talking about. So you borrow money, at an interest rate that while not "fair" to some people, it is agreed upon up front. If you don't agree to it you don't have to sign the paperwork. The first vehicle I bought on my own I paid 18% interest for the first year before I could refinance, I had no credit at that point. Point being, you have to have credit to get credit or it costs you out the ass.

But put yourself in the creditors shoes, they don't know me, they damn sure didn't know me at 20 years old. Why the hell would they give me 1.9% on a loan? Its easy to understand now that I'm older.

No doubt I made all sorts of mistakes myself. It is all part of the process of life here in the USofA.

 

[Clay_Allison]

Get a credit card, use it, pay it off every month, be resposible...yeah that seems terrible.

Fyi, usage and available credit is one of the biggest factors in your scores. I don't know if you care though because you seem like you are more interested in complaining about the system of everything instead of improving your situation.

1. The state screwed me
2. The education system screwed me
3. The banking system screwed me
4. Can't get a mortgage because their system is dumb
5. I don't own a house because the middle class is poor

Such a victim mentality, dude. Screw all of those people. Just make life better and work around things to accomplish what you want. We are still free enough that we can make the system work for us.

You have this weird tendency to think that just because I'm bitching about something I'm not also doing something about it.

 

[skidadl]

You have this weird tendency to think that just because I'm bitching about something I'm not also doing something about it.

Aight. Fair enough. I apologize for my dickheaded remarks.

 

[Clay_Allison]

Aight. Fair enough. I apologize for my dickheaded remarks.

It's cool.

 

[L.T. Fan]

I have helped people establish credit for years. I know credit cards are difficult without credit histories but a surefire method is if someone has a few bucks., say $500.00',place it in a bank or credit union then take out a loan pledging the savings account as collateral. The lender cannot lose and if you are up front with them they will generally be willing to help you get your credit established by this method. Be sure to set it up to where you can meet the terms then do not prepay it. Go the distance with it. It may take multi times to establish a history but in a relatively short time there will be a credit history. The interest cost should be worth the price of the record.

 

[Clay_Allison]

I have helped people establish credit for years. I know credit cards are difficult without credit histories but a surefire method is if someone has a few bucks., say $500.00',place it in a bank or credit union then take out a loan pledging the savings account as collateral. The lender cannot lose and if you are up front with them they will generally be willing to help you get your credit established by this method. Be sure to set it up to where you can meet the terms then do not prepay it. Go the distance with it. It may take multi times to establish a history but in a relatively short time there will be a credit history. The interest cost should be worth the price of the record.

Yeah, we did that, then found out a few months later that our retarded bank only reports to one credit bureau.

 

[skidadl]

I have helped people establish credit for years. I know credit cards are difficult without credit histories but a surefire method is if someone has a few bucks., say $500.00',place it in a bank or credit union then take out a loan pledging the savings account as collateral. The lender cannot lose and if you are up front with them they will generally be willing to help you get your credit established by this method. Be sure to set it up to where you can meet the terms then do not prepay it. Go the distance with it. It may take multi times to establish a history but in a relatively short time there will be a credit history. The interest cost should be worth the price of the record.

That is one way to marginally raise your score and build credit at a particular institution.

The biggest jump in score comes from having open, unused credit limits. You want your reported usage to be less than 20-25%. So if you have a 1000 credit limit and you owe 20% without and lates you can expect a jump in your score. Properly taking care of revolving credit has a big impact on your score. Having multiple revolving credit lines is great too.

If you really want to rev it up check this place out: www.creditboards.com

It helped me a bunch years back. I assume that they are still good folks over there.

 

[skidadl]

If you get rejected for a card you can get a secure card that DOES NOT report as secured. They are out there. Once you use it properly for several months you can get some regular cards and watch the score go up.

I am helping my son with his credit so he can buy a house when he is done with his training.

 

[Clay_Allison]

If you get rejected for a card you can get a secure card that DOES NOT report as secured. They are out there. Once you use it properly for several months you can get some regular cards and watch the score go up.

I am helping my son with his credit so he can buy a house when he is done with his training.

Already did that, just waiting out the time it takes for the card to report on my wife's credit. If the bank had been up front with us, when we were very clear on what we were taking out the loan for, we'd be six months further along in this process.

 

[jeebs]

Already did that, just waiting out the time it takes for the card to report on my wife's credit. If the bank had been up front with us, when we were very clear on what we were taking out the loan for, we'd be six months further along in this process.

The process is difficult, and even with all the "professionals" it will still be upto you to learn the process them do it.

It is hard, no doubt. But when is the last time you loaned someone a couple hundred grand? In what other industry will they give the average person $100,000? Shit be grateful for the industry no matter how long it takes.

 

[Clay_Allison]

The process is difficult, and even with all the "professionals" it will still be upto you to learn the process them do it.

It is hard, no doubt. But when is the last time you loaned someone a couple hundred grand? In what other industry will they give the average person $100,000? Shit be grateful for the industry no matter how long it takes.

I don't like having to do business with credit card companies. I used to work for one and I am not impressed with their honesty and ethics. I dislike being forced into a business relationship that I don't want just so a completely different industry will do business with me. It's like being forced to work for the NCAA for free so you can move up to the NFL.

 

[L.T. Fan]

I don't like having to do business with credit card companies. I used to work for one and I am not impressed with their honesty and ethics. I dislike being forced into a business relationship that I don't want just so a completely different industry will do business with me. It's like being forced to work for the NCAA for free so you can move up to the NFL.

Perhaps you should continue to rent.

 

[Clay_Allison]

Perhaps you should continue to rent.

Just because I don't like something doesn't mean I won't choose to do it if I don't like my other choices. This is just bitching, not me standing on my principles.

 

[Cowboysrock55]

The process is difficult, and even with all the "professionals" it will still be upto you to learn the process them do it.

It is hard, no doubt. But when is the last time you loaned someone a couple hundred grand? In what other industry will they give the average person $100,000? Shit be grateful for the industry no matter how long it takes.

When you're putting 20% down and the loan is secured by the property the loan is a little different.

Oddly enough it is easier to get a boat loan. So my recommendation is to live on a boat.

 

[BipolarFuk]

Apply for a Discover Card. If you get rejected they will send you to the secured card application usually.

Best secured card out there.

You get 1% cash back on everything. Rotate 5% deals every 3 months and have a boatload of online stores where you can get a good percentage back.

In essence, it operates just like their regular card I think except you have to put down the payment.

 

[Clay_Allison]

Apply for a Discover Card. If you get rejected they will send you to the secured card application usually.

Best secured card out there.

You get 1% cash back on everything. Rotate 5% deals every 3 months and have a boatload of online stores where you can get a good percentage back.

In essence, it operates just like their regular card I think except you have to put down the payment.

They wanted me to secure it with $500 on a $500 limit. Fuck them if they think I will pay them to loan me my own money. I went with the bastards I used to work for (capital one) they only wanted $99 deposit.

 

[skidadl]

They wanted me to secure it with $500 on a $500 limit. Fuck them if they think I will pay them to loan me my own money. I went with the bastards I used to work for (capital one) they only wanted $99 deposit.

I think that Capital One reports as secured to your credit report.