I don%26#039;t. I haven%26#039;t bought anything on credit for over 10 years. Now that I%26#039;m looking to buy a new car I%26#039;ve been trying to find something small to buy on credit so that I will have some credit. Let%26#039;s see: Kohls, Dell, HP, Sears, gas companies, various general credit card offers have been denied to no credit. Not bad credit, just no credit. If the federal government bails all these people out while I can%26#039;t even get a minor loan then I will be peaved! What is your opinion please?
Does anybody else not feel bad about these people that have been foreclosed on lately?credit cards
Some took risks, some were greedy, some were stupid, some were ignorant, some were taken advantage of, some were screwed over by their lenders. As a hypothetical senator or congressman, pick and choose who you want to help, considering that if we let the banks take on too much loss, we are all collectively screwed.
Personally, I believe these past 20 years of conservative ideology that demanded deregulation has gotten us into this mess. I believe we need very strict regulation and underwriting standards of all lenders (both banks and non-banks).
For more understanding of why we have to bail out those undeserving banks, go to video.google.com and search for %26quot;Money as Debt.%26quot; It is VERY educational.
http://video.google.com/videoplay?docid=...
Does anybody else not feel bad about these people that have been foreclosed on lately?
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No credit is usually worse than bad credit, so you really can%26#039;t compare the situations.
And when it comes down to it, people NEED a place to live. People don%26#039;t need computers and new clothes.|||Car loans for people with bad credit score are mainly given as two options i.e. secured and unsecured. Under a secured loan, the car or any other collateral needs to be pledged as security with the lender. Secured loans often carry a lower rate of interest and are also easily approved due to the collateral%26lt;!--being placed. Unsecured loans for cars generally have a higher rate of interest as there is no collateral and hence the risk to the lender is more. Both these loans are generally provided for a time ranging between 5-7 years. Clearing some of your old debts can improve your credit score, which may in turn fetch you lower interest rates when you are applying for auto loans.
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http://best-loans.awardspace.com/auto.ht...
A person may incur a poor credit score due to many reasons such as accumulated arrears, defaults, repayments that have been omitted and so on. With the advent of bad credit auto loans, even those with a not so good--%26gt;credit history are being provided with the opportunity to purchase a vehicle. A down payment is however required while acquiring these funding options. Refinance car loans are also being provided by some lenders even for those with a poor credit score.|||I am so glad to see someone that agrees with me. I choose to live in a smaller home. The payment is only about 10% of my take home pay. I do that so that I can still afford to live without cc debt, or debt of any kind. If people chose to get a loan that they knew might increase their payments in a couple of years then they deserve to lose their house.
The only reason that I might be ok with a government bail out is because this whole thing is hurting our overall economy and therefor hurting my 401K.
But underneath it all, if you can%26#039;t afford the house you live in, you don%26#039;t deserve to live in that house. It is VERY simple I would really like a Mercedes. I could get a loan and be driving one tomorrow. Why don%26#039;t I?? Because, I can%26#039;t afford it. That%26#039;s why. This is a rhetorical question.....If I did go buy the Benz, and I could not afford the payment, should the government bail me out?? NO!
You are the first person that has my same opinion. Thanks for being smart enough to realize what is going on, and brave enough to speak up about it.
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