credit problems

[AUav8or]

coming out of college i have a great deal of credit card debt, which has led to missed payments, phnoe calls etc. . . has anyone out there been affected by bad credit when it came to being hired (or not) by an outfit

 

[HughBeamont]

I was in a similar position when I got out of college. I just married a responsible woman who paid all our bills prompty. After a few years, your credit score skyrockets. It was easy.

 

[acaTerry]

Your credit problems have just begun...wait till you amass respectable debt from having a regional job!

 

[Inconceivable]

Terry is right--everyone knows what you make as a CFI or regional new-hire. It's pretty tough to meet your obligations for the most responsible of people. Don't sweat it.

 

[AZ Typed]

Don't sweat it.

Um...yeah. Don't sweat it. Ruin your credit. Don't pay your bills - all of the responsible ones in the world will pay them for you. Heck, we pay 18%, what's 20% to cover folks who don't pay their bills. Oh yeah - good luck getting decent (or any) financing on anything with lates and closed accounts on your report. Join the ranks of financiall illiterate Americans who need it now, are clueless about money, suck off of responsible America, and cannot think or plan long term financially. (you will want to buy a house one day, right?) But what does that matter - you're flying a jet! It's what you always wanted to do!!!

AZT

PS: Been in the IP, Regional FO and CPT ranks - you can do it without killing your credit.

 

[Crizz]

Debt should be a way to build your credit score, not destroy it.

 

[dash8driver]

coming out of college i have a great deal of credit card debt, which has led to missed payments, phnoe calls etc. . .

you're no different than any airline you'll be working for...dont worry about it.

 

[Dangerkitty]

Debt should be a way to build your credit score, not destroy it.

That is by far the most uneducated statement I have ever seen written on these boards.

DEBT IS NOT A WAY TO BUILD A CREDIT SCORE!!!

But it sure is a way to destroy it.

 

[Crizz]

I beg to differ. How many millionaire silver spoons have horrible credit? Why? They have always paid cash. If you have never had any debt to show positive payment history with, then how will you ever have "credit"

This forum is the most bipolar bunch of chaps I've ever seen - everyone is always ready to jump down everyone else's throat.

FWIW I have a good amount of debt from college, and have what is considered to be "top box" credit. Just pay your bills on time and good things happen.

 

[bobs98tlr]

I beg to differ. How many millionaire silver spoons have horrible credit? Why? They have always paid cash. If you have never had any debt to show positive payment history with, then how will you ever have "credit"

This forum is the most bipolar bunch of chaps I've ever seen - everyone is always ready to jump down everyone else's throat.

FWIW I have a good amount of debt from college, and have what is considered to be "top box" credit. Just pay your bills on time and good things happen.

I agree 100% with every word....its amazing isnt it? Some people (not pointing fingers) really love to jump on every opertunity to start an argument.


I too had credit problems when i left the school i was going to because i couldnt afford to live. Bills just packed on top of me and i couldnt do anything. My car kept on braking down and the rent was due. I moved and have just now finnished paying off all my dept (3 years later) so i can go get a loan and finnish my flight training. I have learned SO much about how the system works because of my dept. You have to take on some dept to build your credit in order for your score to go hire. So Crizz is right.

 

[tuna pimp]

That is by far the most uneducated statement I have ever seen written on these boards.

DEBT IS NOT A WAY TO BUILD A CREDIT SCORE!!!

But it sure is a way to destroy it.

No, actually you're incorrect. You need to take on debt (car payment, credit card) RESPONSIBLY in order to build a credit history. You need to show creditors that you can repay a debt obligation on time before they will consider you for a larger (mortgage) or more risky (business) loan. One of the metrics in which credit worthiness is measured is by how long your credit history is.

I'm not saying charge everything you can to a credit card, but showing that you can repay within terms of agreement is crutial to build up a credit rating in your late teens and early 20's.

 

[WWEfan]

That is by far the most uneducated statement I have ever seen written on these boards.

You must be new here. Welcome aboard!

 

[Crizz]

That is by far the most uneducated statement I have ever seen written on these boards.

DEBT IS NOT A WAY TO BUILD A CREDIT SCORE!!!

But it sure is a way to destroy it.

Tell me, how DOES one build credit on the Dangerkitty self wealth enhancement plan?

 

[Dangerkitty]

I beg to differ. How many millionaire silver spoons have horrible credit? Why? They have always paid cash. If you have never had any debt to show positive payment history with, then how will you ever have "credit"

This forum is the most bipolar bunch of chaps I've ever seen - everyone is always ready to jump down everyone else's throat.

FWIW I have a good amount of debt from college, and have what is considered to be "top box" credit. Just pay your bills on time and good things happen.

You guys are so clueless about debt you dont even know you are clueless. But hey what do I know I am only a financial counsler in addition to being a pilot.

Millionaires ARE millionaires becuase they pay cash. Millionaires ARE millionaires because the don't get into debt.

Debt is a cancer that is spreading across America. The average American's household debt has increased 173% since 1992. The average American's unsecured Credit Card debt has increased over $10,000.

Having a good credit rating is nice but paying your bills on time is only a portion of what goes into a credit score. Having debt only hurts your credit score, it does not help it. And just so you know there are Banks and Companies that WILL lend you money without a beakon score. They are few and far between but there are some that will do it.

Debt and credit are so out of control in America that Sears now makes more money in its financing division than it does selling product. That is the reason every shop and Department store are tripping all over themselves to get you to sign up for one of their credit cards. (Oh yeah but you do get that 10% off the first purchase )

I am not "jumping down your throat" Crizz. I just see people all the time that think they know about Credit and Debt when they have no clue. I am not saying you are one of them but I do think your advice earlier is really misguided.

Debt is something to always be avoided at all costs. BTW, I got 802 Credit Score rating 6 months ago and I only have a house payment. No other debts. I guarentee that it wouldn't be that high if I had had any more debt piled on.

If you are truly interested in learning about Debt and Credit read "The Millionaire Next Door" or go to www.daveramsey.com and buy Dave's book "The Total Money Makeover" It will change the way you view money and debt.

 

[Dangerkitty]

Tell me, how DOES one build credit on the Dangerkitty self wealth enhancement plan?

Tell me Crizz why are you so eager to build credit? To borrow more money and go deeper into debt?