credit problems

[huncowboy]

Here is a novel concept. How about not taking that trip to Europe until you can afford it. Credit might get you a trip to Europe but do you really want to have that vacation following you for the next couple of years becuase you could not afford it in the first place. How about saving up for the trip and paying for it in CASH!

Minus going to to med school can you tell me why you need $100,000 for an education. If you can tell me what you need that $100,000 for in regards to an education and I can give you some dang good alternatives.

Tell me then, what is your plan? And can you tell me why debt is not the problem? Do you have any debt?

If you could comprehend you would see that mentioning Europe was a negative example not something I would put on a credit card... good example vs bad... nevermind.

100k, 50k or 20k. Was another example. Getting a MBA in accounting from an average university in FL is around 60k. We talk about debt in general not some exact numbers. If you don't have 60k it is just as far as 100k for med school. So how long does it take to save that up while flippin in BK?

I have debt, nothing major. It was worth for me to be able to change a career. Without that debt I would be rotting in an office pushing papers for over 2x the salary I get now as a CFI, and I would feel miserable for two more years. If I would have waited to save up another 20k to be able to do this debt free I would be able to start my private pilot training right around now.

Btw none of your business but since you asked my plan is to pay it off next year. But I wont wait to save $200k for ummmm 20 years to be able to buy a house if you don't mind.

What is your problem with getting debt for the right reasons? Sounds like you have missed a payment.

 

[Dangerkitty]

Btw none of your business but since you asked my plan is to pay it off next year. But I wont wait to save $200k for ummmm 20 years to be able to buy a house if you don't mind.

What is your problem with getting debt for the right reasons? Sounds like you have missed a payment.

Read my previous posts moron. I have already admitted to having a 15 year fixed rate mortgage at 5.6%. I never said that there was anything wrong with having a mortgage. I also have a car payment that will be paid off in less than 6 months.

If you also further read what I have stated I also made it clear that about 6 months ago I had my credit reviewed and I scored an 802. You dont get that kind of score with a missed payment.

Any other clever little jabs you got there Richard?

 

[dash8driver]

ok.. its time to get out the ruler already...

 

[FN FAL]

Read my previous posts moron. I have already admitted to having a 15 year fixed rate mortgage at 5.6%. I never said that there was anything wrong with having a mortgage. I also have a car payment that will be paid off in less than 6 months.

If you also further read what I have stated I also made it clear that about 6 months ago I had my credit reviewed and I scored an 802. You dont get that kind of score with a missed payment.

Any other clever little jabs you got there Richard?

I'm creeping ever so close to that light at the end of the "debt free" tunnel...and it's looking better all the time.

You're correct...don't use credit at McDonalds, don't use credit to buy clothes, gas for the car, sunglasses or vacations. You'll be compounding interest on those things long after they are gone or just memories in a photo album.

In the 80's I worked at one of the best factory jobs in town, starting pay was $36,000.00 a year. By my third year there, I had a loan on a Gold Wing, a new Celica, a brand new $59,000.00 home and the mag wheels and stereo I put on the Celica...and a loan for a home stereo system. Life was good...living the dream.

Budgeting was easy...on one payday, I paid these and on the other payday, I paid those. What was left over after paying the bills every two weeks? Barely enough money to put gas in the car so I could make it into work and just enough money to buy groceries. No kidding, I was down to having an "allowance".

The best part was, I couldn't afford to miss a payment, everything had to be paid on time. One missed payment would knock over my little financial house of cards. I remember having to make a list of every meal I was going to eat over the next two weeks. I had $40.00 bucks left after paying the bills and considering gas money...every pay period!

I made this list up, went to the grocery store and shopped with a calculator until I ran out of money. I Had to put this back, had to get the no-name brand of that, instead of name brand this. When I got done, I had enough money left over for a steak or a can of coffee...decisions, decisions. Went for the coffee...steak is good for one night and makes a great 5.00 turd, but coffee is a must have.

I know it's tough as regional pilot to make ends meet on 500.00 take home every two weeks...do the best you can and don't borrow money for things that you can eat, experience, or wear.

 

[Crizz]

With all due respect Yank you are still being duped. Studies have shown that people with Credit Cards spend on average 10-25% more than those that don't. Why? Becuase when you take out cash or you take out a debit card you feel the "pain" of giving that money away for a good or service. When you pay with a Credit Card you are just passing the pain on to another day and time.

You state that you have cards with the best rewards programs. Why do you think that these Credit Card companies have these reward programs? They don't do it out of the kindness of their hearts. Rewards programs are there for a reason. What you get for these "Rewards" you make up in increased spending.

Just my opinion. But I think you would be better off not using the cards and spending the cash instead.

I dont see how putting your grocery bill or gas or movie tickets on a card and paying off immediately is getting duped. The demographic that your logic (and your study) applies to is probably not the ones paying off their balances monthly.

 

[Crizz]

I think you have been talking to too many bankers who state you need to incur debt or get credit cards to "build" your credit score.

Like I said before history of payments is only a part of your credit score.

The bigger question is. Why are you so interested in having such a great credit score? To get a loan or are you worried about not getting that job or higher insurance rates becuase of a bad credit score. (Which you will NOT have from having no history of debt repayment or credit cards.)

Answer that and I will expound further.

You are really like talking to a marble slab.

How would I have ever qualified for a home mortgage at an extremely good rate if I would have never shown that I can make a car payment or pay my credit cards in a timely fashion?

If the mortgage was the first DEBT I EVER applied for, A) What would my credit score be, and B) How the heck is a bank going to give me a good rate if they have no idea how I am going to handle the debt.

If we really want to go down that road, then why did you take that car loan that is in a perpetual state of "almost being paid off" (like every other person out there). You are paying interest on a depreciating asset. Car loans are the worst kind of debt you can possibly have, aside from the afformentioned credit card debt for superfulous wants.

We both think the same way, but you are too darn hard headed to see it. And your intolerance for responsible debt (or obligation) and the management therein really clouds your perception of people.



Now, answer the exact question. How do you get a good credit score with the absense of any debt/repayment. Expound away.

 

[Dangerkitty]

You are really like talking to a marble slab.

How would I have ever qualified for a home mortgage at an extremely good rate if I would have never shown that I can make a car payment or pay my credit cards in a timely fashion?

If the mortgage was the first DEBT I EVER applied for, A) What would my credit score be, and B) How the heck is a bank going to give me a good rate if they have no idea how I am going to handle the debt.

If we really want to go down that road, then why did you take that car loan that is in a perpetual state of "almost being paid off" (like every other person out there). You are paying interest on a depreciating asset. Car loans are the worst kind of debt you can possibly have, aside from the afformentioned credit card debt for superfulous wants.

We both think the same way, but you are too darn hard headed to see it. And your intolerance for responsible debt (or obligation) and the management therein really clouds your perception of people.



Now, answer the exact question. How do you get a good credit score with the absense of any debt/repayment. Expound away.

Ok, first of all when you go to get a loan. Let's say you are going to get a home mortgage for $200K and you have never ever had a loan in the past.

The loan officer is going to want to see a few things. First of all they are going to want to see a current pay stub and a W-2. If you make enough money and if you have no debt ratio they will approve you for the loan at a competitive interest rate. If they do not then I suggest that you go and take your business elsewhere. (There are plenty of people and businesses out there that will trip over themselves to loan you money.) They will run your credit report to see if you have any thing that would preclude them from assuming you as a credit risk. However, since you have the amount of income to pay for the home and you have no other debts you will get the loan and at a good rate.

Remember, loan officers are in the business of loaning money. Why would they turn people (and good business) away just becuase they have never had a debt in the past when they are a perfectly good credit risk? Problem is you have fallen for the scam bankers and credit card companies like to hook you in on. They state that you HAVE to have a history of payments and debt repayment so that you can get loans in the future. That is the furthest thing from the truth.

As for the car loan goes I do things a little different from most people. I only buy USED cars that are 3-4 years old and have anywhere from 36000 to 48000 miles on them. That way the car has already depreciated anywhere from 50%-70%. Then I only buy a car that I can have paid off in no more than 18 months. The way I buy cars is that I let some other dolt pay for the depreciation. When I buy the car it has most of the depreciation taken out of it. That way I can buy a great used car and I dont take it in the shorts. I prefer going to and buying lease returns.

Have I answered your question to your liking?

 

[Dangerkitty]

I dont see how putting your grocery bill or gas or movie tickets on a card and paying off immediately is getting duped. The demographic that your logic (and your study) applies to is probably not the ones paying off their balances monthly.

It was an indepth study across all demographics. Remember, the 10%-25% was an average. Some people spend more and some people spend less. But the average does state that with a credit card and delayed "pain" most people tend to spend more than paying with cash.

 

[huncowboy]

Read my previous posts moron. I have already admitted to having a 15 year fixed rate mortgage at 5.6%. I never said that there was anything wrong with having a mortgage. I also have a car payment that will be paid off in less than 6 months.

If you also further read what I have stated I also made it clear that about 6 months ago I had my credit reviewed and I scored an 802. You dont get that kind of score with a missed payment.

Any other clever little jabs you got there Richard?

Who the f cares about your posts? You have just as much credit as anyone else here, using it the same way as anyone else here. Yet you keep your crusade about how bad debt is. What is your big point? Don't try to teach us about credit 101 moron.

 

[dingo222]

debt

I stayed at a Holiday Inn Express once..... and paid cash...no wait, i used my credit card to build credit............or was it debt???? Who the f cares. The man asked how having bad credit would look during an interview. He's not shopping for a mortgage.

 

[dash8driver]

how does being rejected after an interview affect your credit score?

 

[dingo222]

I'll stick to American Express Travelers Checks and Visa gift cards. That way i can pay in cash and still screw myself by using credit........awesome

 

[huncowboy]

Ok, first of all when you go to get a loan. Let's say you are going to get a home mortgage for $200K and you have never ever had a loan in the past.

The loan officer is going to want to see a few things. First of all they are going to want to see a current pay stub and a W-2. If you make enough money and if you have no debt ratio they will approve you for the loan at a competitive interest rate. If they do not then I suggest that you go and take your business elsewhere. (There are plenty of people and businesses out there that will trip over themselves to loan you money.) They will run your credit report to see if you have any thing that would preclude them from assuming you as a credit risk. However, since you have the amount of income to pay for the home and you have no other debts you will get the loan and at a good rate.

Again, if you would only read. Crizz is talking about how to get a loan if you have not established credit. You will not get an 800ish score if you don't have at least 5 active accounts that are in good standing over 60 months and your balance is not more than 40%. Your W-2 determines the size of the maximum loan, your score and credit history affects your percentage.

Read this:
[url="http://www.bankrate.com/brm/news/credit-scoring/20031104a2.asp"]http://www.bankrate.com/brm/news/credit-scoring/20031104a2.asp[/url]

When I first went to a car dealer with a blank credit report they threw me out and I made way more than what I am making now. My score did not show up. That means they don’t deal with you. I first had to start with a $500 max limit card and use it. Took me 5 years to build up my credit to above 700 and will take me another 5 and a mortgage line to get to 800.

Having said that, you may get a mortgage without much credit history as long the property is worth over the loan but only because of the strong collateral. I can’t think of any other type of loan that has similar security in case of default. You would have never received 5.6% fixed w/o some credit history. Not necessarily credit cards, but your mentioned car payments or any other type of loan accounts helped you getting that rate. Without those you would pay more!

Fact is, credit cards are one very accessible way to start building credit, perhaps too accessible. If you can't control yourself you will lose more than you could gain by spending over your abilities. This is where most screw it. But just going at someone at a forum and say that he/she needs more credit line only to borrow more... You got to be an idiot. Having a higher line of credit works in your interest up to a point. Doesn't mean you have to spend it all especially not on things that won't have any practical return.

Still having the ability after 7000 hours TT to judge anyone’s credit and risk management abilities after only reading 2 posts from the person is priceless.

Alright I am out for a week...

 

[Dangerkitty]

Still having the ability after 7000 hours TT to judge anyone’s credit and risk management abilities after only reading 2 posts from the person is priceless.

I am not going to argue with the credit/debt stuff because its obvious that you just dont get it. It's is too far over your head.

However, I would like to address the statment you made above.

What the F are you talking about? What does flight time have to do with the topic at hand?

 

[BoilerUP]

Well I don't know much of all this talk of credit and what not...but I do have a story along these lines.

My parents own three houses, a farm, and three new vehicles. They got all their loans through their bank, with nary a missed payment in at least 10 years. My dad tried to co-sign for a loan on a Honda ATV a friend was buying AND GOT DENIED due to lack of credit history. My parents got into deep CC debt when they first married, and since they've gotten back on their feet they have not had any credit cards. When he insisted on completing the transaction for the ATV and the snotty sales associate asked how he intended to pay for it, my father said "Cash, you do take cash, don't you?"

All this being said, my brother who is 19 got approved for a 100K mortgage based on the fact he had a bit over 10K in savings and a job making 30Kish a year. He has *zero* credit, and if anything, a bounced check or two within the last couple years. The loan would be through the same local bank our parents use, but without anybody as a co-signer.

 

[Traumahawk]

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.

He's also a civil rights historian and a political analyst last I recall...

 

[Dangerkitty]

He's also a civil rights historian and a political analyst last I recall...

Once again you recalled wrong. I never said anything of the sort.

 

[Traumahawk]

I am a Scholar of the Civil War....

OH, I forgot to mention he's also a test pilot...

To some poor shmoe that dared to cross him--

Considering I have more experience than you ten times over you might wanna take a back seat to that as well. Call me when you get a few thousand hours and we will then talk about experience. How about just getting a little jet time. OK, junior?

And now of course a Financial Analyst.

Perhaps if we get into the topic of Rocket Science or even Brain surgery, we may come upon yet another realm of superiority DangerKat resides in.

DangerousPu$$y and PFT_128 are the types around here that you just skim over. True Hypocrites and always ready to jump on a prospective argument.

T-Hawk

 

[Dangerkitty]

I was not going to answer to any of this beause it is so full of BS that it would be easier for me just to ignore it. However, since huncowboy has fallen for the banks and credit card companies hook, line, and sinker I might as well provide an alternative way to all this crap he keeps spouting.

Again, if you would only read. Crizz is talking about how to get a loan if you have not established credit. You will not get an 800ish score if you don't have at least 5 active accounts that are in good standing over 60 months and your balance is not more than 40%. Your W-2 determines the size of the maximum loan, your score and credit history affects your percentage.

I have read what Crizz has said. There are other ways to get loans without having to open up all these lines of credit so that you can "build" a better beacon score. Have you ever heard of the term "manual underwriting."
If you have ever had to pay rent then you have a credit history. If you have ever paid untilities you have a credit history.

Furthermore people in the business of loaning money are not going to turn people away just because they dont have a long estblished credit history. They make money by lending money for Pete's sake. Why woud they turn perfectly good clients away just becuase they dont have 10 different credit cards and 2 car payments?

When I first went to a car dealer with a blank credit report they threw me out and I made way more than what I am making now. My score did not show up. That means they don’t deal with you. I first had to start with a $500 max limit card and use it. Took me 5 years to build up my credit to above 700 and will take me another 5 and a mortgage line to get to 800.

Getting thrown out because you dont have a beacon score is a pretty lame excuse. If it was true then you dont wanna do business with them anyway. Who said you had to have financing from that dealer in the first place. They say no, so you just shrug your shoulders and walk out? Why not go to your bank or Credit Union and ask about financing? However, if you were trying to buy a new car the best favor in the world they could have done for you was refuse financing. A new car is the biggest rip off in the world but that is another story.

Having said that, you may get a mortgage without much credit history as long the property is worth over the loan but only because of the strong collateral. I can’t think of any other type of loan that has similar security in case of default. You would have never received 5.6% fixed w/o some credit history. Not necessarily credit cards, but your mentioned car payments or any other type of loan accounts helped you getting that rate. Without those you would pay more!

Once again you are so wrong it is laughable. I achieved a 5.6% fixed rate mortgage becuase I locked it in a the appropriate time. If your broker or bank only goes by the beacon score then you need to find a new broker or bank. Once again the term manual underwriting comes to mind. Banks and brokers are in the business of loaning money. In such a highly competitive business they will not turn good credit risks away. If they tell you they can't underwrite your because of your lack of credit history then they are full of $hit and you should go somewhere else. Many many mortgage companies will underwrite you without a beacon score.

Fact is, credit cards are one very accessible way to start building credit, perhaps too accessible. If you can't control yourself you will lose more than you could gain by spending over your abilities. This is where most screw it.

I agree 100%. So why even take the chance. Why not just pay in cash or use a debit card?

But just going at someone at a forum and say that he/she needs more credit line only to borrow more... You got to be an idiot.

Could you please repeat this sentence in English that I can understand?

Having a higher line of credit works in your interest up to a point. Doesn't mean you have to spend it all especially not on things that won't have any practical return.

Why dont you go back and reread that link you posted? A higher line of credit does NOT help you credit score. It hurts it. Doesn't matter if you have debt on it or not.

Still having the ability after 7000 hours TT to judge anyone’s credit and risk management abilities after only reading 2 posts from the person is priceless.

Once again could you please type in English that most of us could understand? I guess you are trying to make some sort of correlation with my flight time and the argument at hand but I am not sure.

Maybe you should have a few more cocktails this time before you post.

 

[Dangerkitty]

OH, I forgot to mention he's also a test pilot...

Where have I ever said that?

And now of course a Financial Analyst.

Where have I ever said that?

Perhaps if we get into the topic of Rocket Science or even Brain surgery, we may come upon yet another realm of superiority DangerKat resides in.

Nope, I have nothing to do with neither.

DangerousPu$$y and PFT_128 are the types around here that you just skim over. True Hypocrites and always ready to jump on a prospective argument.

T-Hawk

Cute little play on words you got there T-hawk. As usual you come on here and just fling insults becuase you got nothing else to contribute. No facts, no knowledge just pure ignorance. I would be curious though how you can define me as a hypocrite. You are so good at bringing up old quotes, why dont you show everyone here where I have been a hypocrite?

Time to get into that POS Junglejet you fly so that you can bring in your $19 an hour.

 

[huncowboy]

Have you ever heard of the term "manual underwriting."

If you have ever had to pay rent then you have a credit history. If you have ever paid untilities you have a credit history.

So what if you haven't paid utilities or rent. It was the case with me since I am from abroad. Not as rare as you would think!

Furthermore people in the business of loaning money are not going to turn people away just because they dont have a long estblished credit history. They make money by lending money for Pete's sake. Why woud they turn perfectly good clients away just becuase they dont have 10 different credit cards and 2 car payments?

Yes, and those will charge you 20% interest. Fact is if you have no history, not even a rent, you will be treated as a high credit risk.

However, if you were trying to buy a new car the best favor in the world they could have done for you was refuse financing. A new car is the biggest rip off in the world but that is another story.

Tell this to my neighbor who paid about $2000 for his a/c then 6 months later he was quoted $3000 for his transmission at which point he decided to lease a new car. His 6-7 years old Golf was sold for $1000 as junk. It had a load of miles like 200k but still the car was worth about $5000. He lost on that deal.

One advantage of a new car is that you have a reliable transportation to get to work. If it breaks, you don't need to fork over a sum that may be worth as much as you would pay for a new one in a year. Not to say that there isn't such a thing as a reliable used car, but the risk is always there. Now if you have enough money in the bank, I agree, buying a 2-3 years old car is not a bad deal. However at the moment I like to know how much my car will cost me exactly. Unfortunately surprise payments would stretch my capabilities. You can buy a very cheap, yet still new car if money is tight. It is all about budgeting. Some people can some can’t.

I agree 100%. So why even take the chance. Why not just pay in cash or use a debit card?.

There is not much risk involved if you have some common sense and self-restraint. This is my whole point. Credit helped me out in many ways. I was able to turn it to a useful tool.

Could you please repeat this sentence in English that I can understand?

I am trying my best with English. Sure I will repeat it if it was not proper English. You have made comments about others in this thread. Here is one:

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

You have based this comment on what? After a comment like this, you will not get much respect from the other party. You have set the tone and you keep being arrogant! Hence I made a comment about you missing a payment. I knew it was going to blow up.

Why dont you go back and reread that link you posted? A higher line of credit does NOT help you credit score. It hurts it. Doesn't matter if you have debt on it or not.?

Why don't you go back instead, and read my comment and the site again. It says "beyond a point" or something similar!!! Large unsecured credit line is not good since the borrower could use it anytime thus significantly changing his rating in a moment. However, a very small line is just as bad.

Once again could you please type in English that most of us could understand? I guess you are trying to make some sort of correlation with my flight time and the argument at hand but I am not sure.

It is called sarcasm. But before you start beating my English, and I agree my English is still a work in progress, how about you check your spelling once in the blue... that way I could actually learn something from your posts. <--- more sarcasm...

Maybe you should have a few more cocktails this time before you post.

I’ll do that. But would that not be bad for my judgment? Because I could just get drunk and by mistake apply for 10 credit cards and then I will have to seek your advice how to clean up the mess... on a second thought... I think I will be alright...

Since you have given me plenty, here is one advice from me:

If you getting into an argument on a forum like this, chances are someone will reply with a post that you'll disagree with. If you can’t keep your cool or don’t have a little sense of humor, or sarcasm then posting on the net is not for you.

 

[Dangerkitty]

So what if you haven't paid utilities or rent. It was the case with me since I am from abroad. Not as rare as you would think!

So you are telling me that you came to the U.S. and have never paid any utility bills whatsoever? Then, you go to the bank and apply for a loan?

Yes, and those will charge you 20% interest. Fact is if you have no history, not even a rent, you will be treated as a high credit risk.

WRONG!! You need to go and read into some of the Fair Lending Laws out there. If a bank was to charge someone 20% interest on a loan when rates are hovering in the mid 5's that could very well get them put out of business.
Dude, you are so clueless it is becoming laughable.

I have told you over and over and over again that you dont need a beacon score to get a loan. Why dont you go to www.churchillmortgage.com and find out for yourself.

Tell this to my neighbor who paid about $2000 for his a/c then 6 months later he was quoted $3000 for his transmission at which point he decided to lease a new car. His 6-7 years old Golf was sold for $1000 as junk. It had a load of miles like 200k but still the car was worth about $5000. He lost on that deal.

Well first of all I would have told your neighbor to have AT LEAST 3-6 months of living expenses in a liquid cash emergency fund. That way paying $5000 wouldn't have been all that big of a deal.

HOWEVER, your neighbor really screwed the pooch by getting rid of a car and then getting into a lease. Leases are the most expensive way to operate a car. PERIOD. If you dont believe me then why dont you go to Consumer Reports and find out for yourself. They are the one's that sponsored the study.

I am however beginning to understand where you get all this insane financial BS that you like to spout. Anyone that sells a car only to get into a lease isn't the sharpest knife in the drawer. That is similar to keeping a mortgage instead of paying it off just for the tax "benefits."

One advantage of a new car is that you have a reliable transportation to get to work. If it breaks, you don't need to fork over a sum that may be worth as much as you would pay for a new one in a year. Not to say that there isn't such a thing as a reliable used car, but the risk is always there.

Yeah, OK. So you are telling me that in your neighbors case it was wise to sell a car that had $5000 worth of problems so that hey could lease (ie RENT) a $25,000 car? What sense does that make?

I used to go to a mechanic in Texas that told me that when you are driving the typical Honda or other foreign made car that you are just breaking them in around 500K miles. He knew what he was talking about. I just think your neighbor needed an excuse to blow his money on a new car.

Now if you have enough money in the bank, I agree, buying a 2-3 years old car is not a bad deal. However at the moment I like to know how much my car will cost me exactly.

If you want to know how much your car is worth just go to www.kbb.com or www.edmunds.com. It aint all that difficult to find out what a car is worth.
Actually it is quite easy.

Unfortunately surprise payments would stretch my capabilities. You can buy a very cheap, yet still new car if money is tight. It is all about budgeting. Some people can some can’t.

Again we are back to the emergency fund. If you really want to be financially repsonsible you should have 3-6 months worth of take home pay in an emergency fund for this very purpose you mention above.

I am trying my best with English. Sure I will repeat it if it was not proper English. You have made comments about others in this thread.

Sometimes I have no clue what you are trying to say.

Since you have given me plenty, here is one advice from me:

If you getting into an argument on a forum like this, chances are someone will reply with a post that you'll disagree with. If you can’t keep your cool or don’t have a little sense of humor, or sarcasm then posting on the net is not for you.

I can keep my cool fine, but when people like you start calling me a moron and the like I start to have problems with that. Especially when you have no f**king clue what you are talking about.

You are a banker's, car salesman's, and loan officer's wet dream. You have absolutely no clue what you are talking about but because they deam you as financially intelligent you think that it is such. Tell me sir where have you obtained this financial education that you speak so highly of. It took me over 2 years to become a Certified Financial Advisor. How long was your education?