Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: BBSSchlemiel on January 12, 2019, 07:45:30 AM
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As I’ve said for sometime, eventually bodybuilders and fitness gurus have a breakdown in which they start doing and saying weird shit.
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good for him on having a high credit score -
does this mean he is rich? no
does this mean he can take out lots of personal loans, credit cards, auto leases, and leverage himself to death? yes
you can have an 800 credit score with $100k+ in debt
you can have an 800 credit score and be a 80 year old lady making $1000 in pension monthly and be eating cat food in the dark since you are broke and her 800 credit score isnt helping her
yes having good credit is very important - but low debt to income ratios and a good mental/emotional relationship to money is more important.
and having good credit typically is a good sign but only a small fraction.
being in this profession and seeing all kinds of credit reports - i see a lot affluent wealthy business mogal types credit isnt that great. they use tons of leverage, have tax liens, lawsuits, judgements -- you do enough business and at a higher level you will get clipped.
even if you have a business (LLC, LP) many things end up on your personal credit report.
what is phil healths credit ? ;D
they need to teach personal finance in school from 6th grade to 12th year - not just ratios and formulas but the relationship with money etc
i would say... in the USA money is the greatest stressor that can be controlled but yet it eats us up! 50% of marriages are broken up due to money.
also i think it is important to have some rough/thin years to really value money and its importance
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What you say is true but I still think it’s a strange post! I think he does it because he instinctively knows much of his audience are lost souls.
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What you say is true but I still think it’s a strange post! I think he does it because he instinctively knows much of his audience are lost souls.
it seems many in the fitness world talk finance/credit/real estate/home flipping
I pick up on this since i m a mortgage broker
also it is a humble brag too "look at me and my 850 credit score" and yes his clients are prolly clueless
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it seems many in the fitness world talk finance/credit/real estate/home flipping
I pick up on this since i m a mortgage broker
also it is a humble brag too "look at me and my 850 credit score" and yes his clients are prolly clueless
I think many talk about it because they’re generally unemployable and want to somehow make money without working.
My score is now in the high 700s. I don’t see why I will post it when it gets to 800.
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Girls show their asses to attract guys and get more likes, nothing wrong with showing off your credit score to attract the bitches.
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As I’ve said for sometime, eventually bodybuilders and fitness gurus have a breakdown in which they start doing and saying weird shit.
Wasn't he in corporate finance before he was doing what he does now? I think it makes sense posting his is financial advice given his past. Maybe it's just a segway into saying he might be heading back to his old career? (just taking out my ass on that, I have no idea)
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Wasn't he in corporate finance before he was doing what he does now? I think it makes sense posting his is financial advice given his past. Maybe it's just a segway into saying he might be heading back to his old career? (just taking out my ass on that, I have no idea)
The advice in the post is “live below your means”. That’s not insightful.
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Wasn't he in corporate finance before he was doing what he does now? I think it makes sense posting his is financial advice given his past. Maybe it's just a segway into saying he might be heading back to his old career? (just taking out my ass on that, I have no idea)
Coach, it seems like you're in love with Meadows (no judgment).
Whenever someone posts something negative about Meadows, you seem to try be his "knight in shining armor."
??? ???
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Perhaps he's branching out into larger world of "life coaching" from body building coaching? I could see it. He posts his credit score, then some things on financial tips and tricks, maybe a nice cattle prod video of him doing his taxes. Next thing you know, you've got a new income stream.
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Wasn't he in corporate finance before he was doing what he does now? I think it makes sense posting his is financial advice given his past. Maybe it's just a segway into saying he might be heading back to his old career? (just taking out my ass on that, I have no idea)
so just like every other post you've ever made on this site
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so just like every other post you've ever made on this site
I’m sorry, how many times have you been wrong? About everything?
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Girls show their asses to attract guys and get more likes, nothing wrong with showing off your credit score to attract the bitches.
He’s been married for quite some time, with two kids.
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good for him on having a high credit score -
does this mean he is rich? no
does this mean he can take out lots of personal loans, credit cards, auto leases, and leverage himself to death? yes
you can have an 800 credit score with $100k+ in debt
you can have an 800 credit score and be a 80 year old lady making $1000 in pension monthly and be eating cat food in the dark since you are broke and her 800 credit score isnt helping her
yes having good credit is very important - but low debt to income ratios and a good mental/emotional relationship to money is more important.
and having good credit typically is a good sign but only a small fraction.
being in this profession and seeing all kinds of credit reports - i see a lot affluent wealthy business mogal types credit isnt that great. they use tons of leverage, have tax liens, lawsuits, judgements -- you do enough business and at a higher level you will get clipped.
even if you have a business (LLC, LP) many things end up on your personal credit report.
what is phil healths credit ? ;D
they need to teach personal finance in school from 6th grade to 12th year - not just ratios and formulas but the relationship with money etc
i would say... in the USA money is the greatest stressor that can be controlled but yet it eats us up! 50% of marriages are broken up due to money.
also i think it is important to have some rough/thin years to really value money and its importance
Good post but low debt to income ratio does effect the credit score.
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Good post but low debt to income ratio does effect the credit score.
debt to income ratio would be calculated for a specific transaction (such as buying a house) and has NOTHING to do with a credit score. It is not part of the credit score model (again - a debt ratio is transaction specific)
Credit Utilization (the amount of outstanding balance compared to the credit limit) most definitely has an impact on credit score
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debt to income ratio would be calculated for a specific transaction (such as buying a house) and has NOTHING to do with a credit score. It is not part of the credit score model (again - a debt ratio is transaction specific)
Credit Utilization (the amount of outstanding balance compared to the credit limit) most definitely has an impact on credit score
Technically it doesn't but everyone asks for income and factors that into giving you the loan or not. Example: credit card companies. You can have a 750 credit score but if you have no income you aren't getting the card.
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debt to income ratios do not effect credit - the credit agencies have no idea on your income??? so they dont look at DTI - the underwriter will at credit score + debt to income ratios but the credit agencies dont care about your income.
again you see 80 year old ladies with $2000 a month pension + SSI with an 800 credit score. very little income but flawless payment history
but maxed credit cards will hit you hard
not get in too much detail with the credit process - fun fact they change the algo process all the time - transunion equifax and experian all have their own scoring models. a little different
quick recap how to get good credit
-never be late on anything
-keep credit limits at 30% of the max aval credit limit - $1000 max limit - never allow balance to get over $300 a month
-length of credit- have a good length of credit
-mix of credit
if you need to build credit since you do not have any - get 2 secure credit cards (Discover and Capital one)
most ppl have poor credit or credit issues since they are late, have collections, charge offs etc
if you are just not late - you will be 700 +
for financing (mortgages, credit cards, auto loans) the pricing is pretty much the same once you are 760 + so an 850 and a 761 will get the same mortgage rate assume all things being equal.
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Technically it doesn't but everyone asks for income and factors that into giving you the loan or not. Example: credit card companies. You can have a 750 credit score but if you have no income you aren't getting the card.
some cards ask for income docs and others do not (I've never had to provide any income docs when getting a credit card)
either way, debt to income ratio has ZERO impact on your credit score. It's not part of the formula in the scoring model
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some cards ask for income docs and others do not (I've never had to provide any income docs when getting a credit card)
either way, debt to income ratio has ZERO impact on your credit score. It's not part of the formula in the scoring model
You are correct on score. I see what you did there on saying some credit card companies ask for docs and others don't. Correct BUT they do ask. Whether you tell them the truth is up to you. I have a buddy who has never had a job and always tells them he makes over $200,000 a year as an author and he now has like $80,000 in available credit.
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if there is anything this society needs to personal finance class year after year from 6th grade through 12th grade
but personal finance isn't too difficult. it is more will power than mathematics and complex formulas.
for me - I use CC's all the time and i have a boatload of them - but i am starting pay more with cash... i spend less, plus I like keep my life as simple as possible - hell I have venmo, paypal and apple pay as well too but use those only when I have too..
car payments and eating out kills people's money like nothing else
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Technically it doesn't but everyone asks for income and factors that into giving you the loan or not. Example: credit card companies. You can have a 750 credit score but if you have no income you aren't getting the card.
My wife has no income and has never had to prove income and has a capital one card with 30k limit.Also I’ve never had to prove income.
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if there is anything this society needs to personal finance class year after year from 6th grade through 12th grade
but personal finance isn't too difficult. it is more will power than mathematics and complex formulas.
for me - I use CC's all the time and i have a boatload of them - but i am starting pay more with cash... i spend less, plus I like keep my life as simple as possible - hell I have venmo, paypal and apple pay as well too but use those only when I have too..
car payments and eating out kills people's money like nothing else
I pay for everything with a credit card and pay it off completely before any interest kicks in. Easier than carrying cash around or writing checks plus it helps your score to have evolving credit every month.
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My wife has no income and has never had to prove income and has a capital one card with 30k limit.Also I’ve never had to prove income.
take out a mortgage you will need too
business loan you will need too
personal loan/personal line of credit - good chance you might
credit cards they dont verify income but they have algos that can gauge an income based on age, location, job occupation etc etc but they make you send over tax returns.
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My wife has no income and has never had to prove income and has a capital one card with 30k limit.Also I’ve never had to prove income.
True, she doesn't have to PROVE income but they do ask. I've never not been asked my income when applying for a credit card.
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True, she doesn't have to PROVE income but they do ask. I've never not been asked my income when applying for a credit card.
Yes they always ask but seem to never verify.In her case anyways.
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You are correct on score. I see what you did there on saying some credit card companies ask for docs and others don't. Correct BUT they do ask. Whether you tell them the truth is up to you. I have a buddy who has never had a job and always tells them he makes over $200,000 a year as an author and he now has like $80,000 in available credit.
I know I am correct about the scoring model and again, income documentation and debt ratio has nothing to do with it so not sure why you mentioned it in the first place in the context of credit score
regarding income "docs" you can't really lie when providing docs (i.e. not tell the "truth") unless you're fabricating pay stubs, W-2's, etc..
stating a false income on an application is another thing altogether (what you said your buddy did) does not count as providing docs. Docs = verification of income
not only have I have never been asked to provide a shred of income documentation for any credit card, I'm pretty sure I wasn't asked for anything when I got my last car loan (99% sure since it's been years since I got an auto loan).
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I know I am correct about the scoring model and again, income documentation and debt ratio has nothing to do with it so not sure why you mentioned it in the first place in the context of credit score
regarding income "docs" you can't really lie when providing docs (i.e. not tell the "truth") unless you're fabricating pay stubs, W-2's, etc..
stating a false income on an application is another thing altogether (what you said your buddy did) does not count as providing docs. Docs = verification of income
not only have I have never been asked to provide a shred of income documentation for any credit card, I'm pretty sure I wasn't asked for anything when I got my last car loan (99% sure since it's been years since I got an auto loan).
Again I am not saying you have to provide documentation I am saying THEY DO ASK what your income is. Whether you tell the truth is up to you.
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i am a 795 as of today - i should A + credit being in the business - i would be a hypocrite if i didnt
live below your means man... ive been on all sides of the scale - broke and well off a few times in my life -
https://imgur.com/a/1jkyGFs
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Again I am not saying you have to provide documentation I am saying THEY DO ASK what your income is. Whether you tell the truth is up to you.
you wrote "some credit card companies ask for docs"
all I can do is respond to what you wrote.
if you meant "some credit card companies ask you to state your income" then say that next time
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Was an 837 now I'm slumming ::)
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if you have a child - your kid should come out of the gate with 750 credit.
it is so easy for someone to get good credit from day 1 - you start clean! all you gotta do is be on time and you start with 800 +
but... it has to come from the parents
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if you have a child - your kid should come out of the gate with 750 credit.
it is so easy for someone to get good credit from day 1 - you start clean! all you gotta do is be on time and you start with 800 +
but... it has to come from the parents
Even if you haven't built a credit history?
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I hover between 790 and 805 but I'm told there isn't much difference between 700 and 850 as far as rates. And while "live below your means" may not be insightful, it is some of the best advice out there in my opinion
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if you have a child - your kid should come out of the gate with 750 credit.
it is so easy for someone to get good credit from day 1 - you start clean! all you gotta do is be on time and you start with 800 +
but... it has to come from the parents
The kid needs years of credit to get to 750 you don't just start out that way.
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if you have a child - your kid should come out of the gate with 750 credit.
it is so easy for someone to get good credit from day 1 - you start clean! all you gotta do is be on time and you start with 800 +
but... it has to come from the parents
I disagree. When my father, who paid for almost everything cash, had a credit card but never used it because he believed in paying cash wanted Satellite TV, Dish network turned him down because he hadn't established a history of credit. Guy didn't owe a dime to anyone, had money in the bank, couldn't get Dish without a co signer so yeah, that baby wouldn't be able to buy a pacifier on credit. Having a history of paying on time is important
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I disagree. When my father, who paid for almost everything cash, had a credit card but never used it because he believed in paying cash wanted Satellite TV, Dish network turned him down because he hadn't established a history of credit. Guy didn't owe a dime to anyone, had money in the bank, couldn't get Dish without a co signer so yeah, that baby wouldn't be able to buy a pacifier on credit. Having a history of paying on time is important
Exact Same thing happened to me hadn’t borrowed a penny ever in my life and I got turned down for a pay monthly phone contract ffs, it’s still in our lasses name to this day, yet was ok getting a mortgage but not sure if that is based off credit rating or not
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Exact Same thing happened to me hadn’t borrowed a penny ever in my life and I got turned down for a pay monthly phone contract ffs, it’s still in our lasses name to this day, yet was ok getting a mortgage but not sure if that is based off credit rating or not
I think credit rating is part of it, but with a mortgage they go further in depth in analyzing your income and debt to insure you can pay... or at least they are supposed to. We know what happened 10-15 years ago.
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you wrote "some credit card companies ask for docs"
all I can do is respond to what you wrote.
if you meant "some credit card companies ask you to state your income" then say that next time
Reread the posts. I said credit card companies ask how much you make. I never said you must provide docs. You said that and then quoted me as saying what you said.
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The kid needs years of credit to get to 750 you don't just start out that way.
far from -
you can get 700 credit scores rirght out of the gate (within 1-2 years) if you do right - again this is my line of work (mortgage broker)
get a secured card with Discover and capital one and within 1-2 year a 1st time credit app will be in the 700s assuming they dont f up and get collections or miss payments
then add a 3rd of 4th card and keep the balances at 20% of the max limit and boom - 700 + credit score within 1-2 years.
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far from -
you can get 700 credit scores rirght out of the gate (within 1-2 years) if you do right - again this is my line of work (mortgage broker)
get a secured card with Discover and capital one and within 1-2 year a 1st time credit app will be in the 700s assuming they dont f up and get collections or miss payments
then add a 3rd of 4th card and keep the balances at 20% of the max limit and boom - 700 + credit score within 1-2 years.
As a mortgage broker I certainly respect your information. But you just said "Get a SECURED card" which means they don't trust you out of the womb
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I disagree. When my father, who paid for almost everything cash, had a credit card but never used it because he believed in paying cash wanted Satellite TV, Dish network turned him down because he hadn't established a history of credit. Guy didn't owe a dime to anyone, had money in the bank, couldn't get Dish without a co signer so yeah, that baby wouldn't be able to buy a pacifier on credit. Having a history of paying on time is important
Hahaha never understood idiots that think paying everything cash is a good thing ::)
I know a few that are like that, they never use their credit card, anti credit, and when it’s time to take a loan or get a new phone service they get rejected hahahaha
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That was his blood pressure not his credit score.
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far from -
you can get 700 credit scores rirght out of the gate (within 1-2 years) if you do right - again this is my line of work (mortgage broker)
get a secured card with Discover and capital one and within 1-2 year a 1st time credit app will be in the 700s assuming they dont f up and get collections or miss payments
then add a 3rd of 4th card and keep the balances at 20% of the max limit and boom - 700 + credit score within 1-2 years.
Yes, 1-2 years is not right out of the gate. I have 6 credit cards, I know how it works.
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As a mortgage broker I certainly respect your information. But you just said "Get a SECURED card" which means they don't trust you out of the womb
you are correct - if you need a secure card - no one trusts you
each scenario is different - if a foreign buyer for example has no credit - the best to get credit asap is a secure card (get both discover and capital one since they report on all 3 agencies)
its your best bet if you are new to credit
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Yes, 1-2 years is not right out of the gate. I have 6 credit cards, I know how it works.
1 year to have 700 credit is amazing - im looking at things in decades.... so yeah 1 year might be to a long time for a certain person but i look at that as short term when you look at the big picture
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Hahaha never understood idiots that think paying everything cash is a good thing ::)
I know a few that are like that, they never use their credit card, anti credit, and when it’s time to take a loan or get a new phone service they get rejected hahahaha
What are you? 12?
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What are you? 12?
13, thanks for asking
Dumb father, dumb son, elite genetics for you
Apple doesn’t fall to far from the tree
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13, thanks for asking
Dumb father, dumb son, elite genetics for you
Apple doesn’t fall to far from the tree
says the guy that's probably still working to the guy that retired early... yeah. nice try
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working on a deal with 800 credit and tons of debt...
he is just always pays on time! lol
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working on a deal with 800 credit and tons of debt...
he is just always pays on time! lol
It is not uncommon for someone with a very high credit score to file bankruptcy.
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It is not uncommon for someone with a very high credit score to file bankruptcy.
yes - for sure
BK can happen for many reasons - generally speaking it is due to medical, divorce and IRS tax debt (ppl use cards to pay the IRS then file BK) not good to do but it happens.
also sometimes the faster you file BK the better the next years are, a slow bleed out can be really painful, sometimes better to get the BK over with and move on. I call on BK lawyers all the time for referral business (spec reverse mortgages)
BK sucks but it is there for a good reason.
one reason America is so great with the economy (going back to 1700s and 1800s) we have BK!! BK is amazing - it allowed risk takers to take risk and not go to debtors prison etc. like in Europe.
risk and innovation made America. and being able to take risk is needed
BK is very American and a good thing - most dont realize the amazing historic benefit how BK laws allowed the USA to leap ahead of other nations in the developing years.
also BK fraud is civil and criminal so its hard to beat that system - dont even try lol
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Yes, BK has helped create many rich people.
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yes - for sure
BK can happen for many reasons - generally speaking it is due to medical, divorce and IRS tax debt (ppl use cards to pay the IRS then file BK) not good to do but it happens.
also sometimes the faster you file BK the better the next years are, a slow bleed out can be really painful, sometimes better to get the BK over with and move on. I call on BK lawyers all the time for referral business (spec reverse mortgages)
BK sucks but it is there for a good reason.
one reason America is so great with the economy (going back to 1700s and 1800s) we have BK!! BK is amazing - it allowed risk takers to take risk and not go to debtors prison etc. like in Europe.
risk and innovation made America. and being able to take risk is needed
BK is very American and a good thing - most dont realize the amazing historic benefit how BK laws allowed the USA to leap ahead of other nations in the developing years.
also BK fraud is civil and criminal so its hard to beat that system - dont even try lol
I think Bankruptcy is abused. Personal responsibility should be applauded not refusing to pay people. But hey.. Im liberal
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I think Bankruptcy is abused. Personal responsibility should be applauded not refusing to pay people. But hey.. Im liberal
Bk is an amazing invention -
i am not right or left wing - just call it as a i see it.
fyi ppl who go through Bk it is a serious mental drain and very hard on them - trust me they feel it.
i am not a fan of anything that is abused - and i am not right or left wing - i call it how i see it from my own set of eyes on each topic.
BK lawyers are some of the smartest business ppl ive met
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Bk is an amazing invention -
i am not right or left wing - just call it as a i see it.
fyi ppl who go through Bk it is a serious mental drain and very hard on them - trust me they feel it.
i am not a fan of anything that is abused - and i am not right or left wing - i call it how i see it from my own set of eyes on each topic.
BK lawyers are some of the smartest business ppl ive met
My cuz is a bankruptcy lawyer and I hear what you are saying.. at the personal level it is well regulated. But multi millionaires can use it to their advantage and often do
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My cuz is a bankruptcy lawyer and I hear what you are saying.. at the personal level it is well regulated. But multi millionaires can use it to their advantage and often do
Rich and poor have more in common with each other than they do with the middle class. Both use BK to help them get ahead whereas middle class usually suffer needlessly.
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I think Bankruptcy is abused. Personal responsibility should be applauded not refusing to pay people. But hey.. Im liberal
Banks don’t lose one red cent when someone doesn’t pay them back.
Fractional reserve banking, yet another great invention.
I guess I should have asked why Meadows would make such a goofy, infantile post.
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Bay likely perfect credit score. :-*
http://www.getbig.com/boards/index.php?topic=309532.0
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If you read, understand and know how to apply the Fair Credit Reporting Act (FCRA) you can go from a zero to a hero and GayBay's bullshit is thrown out of the window. I know every trick of the trade, Lexis Nexus, Sagestream, and more. Freezing certain things in certain order, what letters to write, how to write them, certify them, take them to court if you have to if they don't provide what they must legally provide to put things on your credit report and more. GayBay has some nerve trying to judge someone when he's a queer. That's flagrant foul in life. So while I don't have "perfect" credit, I have credit to get some of the lowest interest rates from lenders and I know how to leverage that credit...Business credit as well. You have to know how to play the game. :-* Ignorant people pay collection agencies. I would never pay these assholes. Matter of fact I never did and they still had to take that shit off.
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If you read, understand and know how to apply the Fair Credit Reporting Act (FCRA) you can go from a zero to a hero and GayBay's bullshit is thrown out of the window. I know every trick of the trade, Lexis Nexus, Sagestream, and more. Freezing certain things in certain order, what letters to write, how to write them, certify them, take them to court if you have to if they don't provide what they must legally provide to put things on your credit report and more. GayBay has some nerve trying to judge someone when he's a queer. That's flagrant foul in life. So while I don't have "perfect" credit, I have credit to get some of the lowest interest rates from lenders and I know how to leverage that credit...Business credit as well. You have to know how to play the game. :-* Ignorant people pay collection agencies. I would never pay these assholes. Matter of fact I never did and they still had to take that shit off.
It is amazing how many people are totally clueless about credit and their rights. I tell people all the time to NEVER PAY A COLLECTION AGENCY and they look at me with this confused look on their faces.
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It is amazing how many people are totally clueless about credit and their rights. I tell people all the time to NEVER PAY A COLLECTION AGENCY and they look at me with this confused look on their faces.
if you pay a collection agency - only pay for the following "paid for deletion"
this way they will delete the collection off the credit report, and its poof gone! not all collection agencies will do this,
if you just pay a collection - your credit report will show "collection" paid and that is it.
the reason i am anal about my credit report for 2 main reasons
1. I will sometimes take out a small personal line for marketing/expenses for work
2. I am all about buying small/cheap rental homes and you need A+ to finance investment homes, I dont have a pension, SSI is a pipedream in 40 years, 401ks well..if you work for the same employer for 25 years and they match it - then it is a good tool but i do not have that so my retirement plan is passive/rental income. every few years, add another unit - goal is to have them paid off at retirement and live off passive rental income with a basket of properties.
being in real estate/lending - i know this market/this is what i do for a living. i am a fan of cheaper single family homes for rental income -
i do alot of reverse mortgages for retired folks - retirement is scary as fuck - most ppl and even more so baby boomers will outlive their income savings - hence i am looking playing the passive rental income game. i am far from a baller, but slowly looking to add rentals as that is my "end game plan" with my savings/retirement
i personally would be better off with passive income than a "nest egg" i have 35 years - 40 years before i plan to retire so i have time.
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Bay likely perfect credit score. :-*
http://www.getbig.com/boards/index.php?topic=309532.0
LOFL
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It is amazing how many people are totally clueless about credit and their rights. I tell people all the time to NEVER PAY A COLLECTION AGENCY and they look at me with this confused look on their faces.
Why?
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Why?
Only deal with the actual company you owe the debt.