Personal Finance …..?
What are the signs of credit use? Do you think that credit has done more harm than good to the average consumer? How and who is to blame? (Or someone you know) What experience (good or bad) you had with your credit card? Do you think credit (credit cards, personal loans, mortgages) is too easy or too difficult to obtain? Do you agree that bad credit is better than no credit? Why? As a credit manager for a midsize company that would grant a $ 5,000 loan from Mr. Jones, who asked about his claim that he has a few credit problems were, but it is now a different person, or Mr. Brown, a police officer who is not a credit history? Explain.
Some years ago I tried to be approved for a mortgage with my wife to get. We had a credit card debt, but overall we were ok. Seeing my mortgage broker to 30k of debt, he said he could give us a personal loan through an investor. Having no options, we must pay our debts and loans approved for a mortgage to get. It turns out, a family member who also uses these mortgage brokers came into money would invest. The mortgage broker thought he had the ideal situation, the use by lending money to my family member interest. Basically, we were forced into business with family and do not tell us. member of the family did not know either. The plan was to refinance after 2 years if the loan is settled and paid for this personal loan with only 2 years are charged interest payments.With faltering economy, there was nothing left with no equity.So some payments (due to not receiving any statements or certify payments), both parties will put pressure on the mortgage broker to question if it was decided to inform the parties actually family. First question, what is even legal.Is use it?