Re: Help!! Resp 4 Credit B4 Turned hey, Doc, look onthe life insurance thread - I'm messing with lb. hahahahahaha!!!!!!
Re: Help!! Resp 4 Credit B4 Turned O.k. I try to stay out of these debate threads even though I love a good debate. I prefer to hit hard and fast and waiting for 10 minutes for someone to respond is torture. Anyway I think I actually have a point here that hasn't been addressed. First of all, I have always paid 100% of all my debts (including past due fees and any other extras they love to add on) That said, I feel that there is an acutal reason that you have to be 18 in order to enter into a contract. I'm guessing the reason is your not yet responsible (I don't nessesarily agree that 18 is responsible either), but I think pretending your 18 on a contract, when your not, goes along with the irresponsible label. He wasn't 18 when he entered the debt, he handled it just like everyone says an under 18 year old will handle it. I blame the credit card companies for trying being too greedy and either not doing their research completely or just not caring. I feel his best course of action would be to get the negative tradeline removed. Period. Whethere he pays or doesn't pay. They are both at fault so I feel a settlement does actually work in this case, and if he can arrange a full deletion so be it. However if they do not agree to a full deletion, demand a deletion without a payment and sue them if you don't get it. scott
Re: Help!! Resp 4 Credit B4 Turned Okay, I have to open my big mouth. Ozzyburger and Doc made some valid points that I have to agree with. My opinion is Eric (knowingly) committed fraud. He knew what he was doing was wrong. I say take the $500 settlement and run. I don't think we can blame the CCCs for this incident. They thought they were giving a card to someone who was able to enter into a contract with them (18+). Concentrating on this post alone, I don't fault them. Now, should they have given a card to someone who clearly had no credit? Probably not. I guess we could argue based on the credit card company's risk. Eg. They give me a card, taking a chance that I will/will not pay them back. But is it fair to the CCC for taking a chance on a 17 y.o who said he was 18? The CCC just wants their money, I can't blame them. Should we be required to begin enclosing a copy of our birth certificate to make sure we are of legal age? I hope not. Eric, I am not here to give you a lecture. We can all say we have done stupid things as teenagers. By the time I was 19, I had a total of 10 CCs and $5K worth of credit card debt. Not too smart. I ended up working two jobs to pay back mine. It is a lesson we all go through (and hopefully learn). At this point, you have 2 options: 1) take the settlement (see if they would be willing to change the R9 or to delete the tradeline all together); 2) don't pay the debt. It is a choice only you can make. Good luck. Dani
Re: Help!! Resp 4 Credit B4 Turned You know, to heck with it. I was not going to post but there has been some lively and interesting discussion and, well, I want to! LOL! Looking back at the first post, there are a few sentences that stand out and were the basis for my reaction: Eric wrote: 1. â??I got my first credit cards when I was 17. I applied for them, and by some fluke occurrence, they sent them to me. â?? - Just exactly what is the â??fluke occurrence?â? You told them falsely that you were 18, signed the application, and they sent you the card. 2. â??No payments or purchases were made after I turned 18 years old.â? â?? There you go! Do you really believe this was a â??fluke occurrence,â? too? No way! Eric likely knew that he was underage and those bills would not legally be his responsibility. The â??coincidenceâ? is a bit much! Funny how he implies payments until that time (so as not to lose the ability to keep on purchasing as a â??legally not responsibleâ? minor. 3. â??Someone told me that I am not responsible for paying these cards, and that I can get them erased from my credit since you can not legally enter into a contract before you are 18 years of age.â? Translates in my book to â??I knew full well I would likely not be responsible for paying these cards and then I could get them erased from my credit. Free stuff! Cool!â? 4. â??Wouldn't this be their fault since they didn't check my credit?â? â?? HELLO? What credit would there be to check? You wouldnâ??t even have a record with them (a CRA) at that point! 5. â??ALSO- my credit report with Equifax shows me as being a year older than I actually am. â?? â?? Imagine that, I wonder why? DUH! 6. â??I am clearing this up with them ( I faxed them my social security card and driver's liscence showing that I am a year younger than they have on their records, and that I actually DID get these cards when I was only 17).â? â?? Well, of course you areâ?¦that was the plan! Doc: You have given clear, straightforward advice to Eric in an honest but kind way. I hope he listens to you. I canâ??t compare at all our two professions in the sense of the training and knowledge base you have but as to experience with different types of peopleâ?¦we maybe share a bit of similarities because we both deal with people, specifically kids (and their parents). Iâ??ve taught a while, middle school, no less, and you see it all. Along with these kiddos come their parents and the parenting styles are quite interesting, to say the least. I bet you get my drift, eh? Ozzy, Dani, Baday, Breeze, Svanderwil, LKH, & Doc: No matter how you perceived this situation or reacted, it made for interesting discussion and lots of good information, including the points of law that were shared. When creditnetters share opposing views, itâ??s my belief that sometimes you get the most valuable information from that. One point: Some have referenced others trying to get out of debt, etc. and some surely have. Some of us have situations that arenâ??t exactly of that nature. Just want to keep away from the impression that everyone here is trying to create debt then walk away. I donâ??t think anybody meant to say or imply that but, for the record, thereâ??s a variety of situations here.
Re: Help!! Resp 4 Credit B4 Turned Good post, Nana!! The discussion is the thing. It brings out differing points of view, and makes food for thought. I didn't even notice the references you pointed out, that indicate he did this intentionally. It's water over the dam now. But anyway, I'm glad you came back and posted.
Re: Help!! Resp 4 Credit B4 Turned I would like to post just a blurb from Professor Manning's testimony to the senate banking committe in 2001 re:the predatory lending practices of credit card providers to young people. I think Professor Manning's studies clearly indicate that credit card providers know exactly what they are doing when they prey on college aged students with no income. I think it underlines breeze's post about the responsibility of underwriters... If you would like to read the entire testimony please go to http://www.creditcardnation.com/Free/website/www/senate_testimony.htm It is an eye opener for parents and college aged students! If anybody here has young people in college being tempted by pre-approved student credit cards then Professor Manning's website should be a must read primer: www.creditcardnation.com here is the blurb ===================================== â??Plastic Money for Real Peopleâ? --- College Marketing Campaign by Associates National Bank The lack of individual responsibility in the assumption of escalating levels of consumer debt is the cornerstone of the credit card industryâ??s argument for the reform of existing bankruptcy laws. The emphasis on â??if you play then you should payâ? belies the dramatic shift in the promotion of high interest, unsecured lines of credit which are most efficiently provided through universal or bank credit cards. As the credit card industry successfully increased the â??realâ? cost (net of inflation) of consumer credit and saturated middle-class households in the 1980s, the spectacular profits of the consumer-debt driven economy led to banks to finance enormous marketing campaigns that sought to penetrate nontraditional markets in the late 1980s. The abrupt change in the industryâ??s underwriting standards for these loans raises the question of whether these new, far less stringent lending criteria are encouraging American households to borrow more money than banks know they can ever possibly repay. Ironically, these new groups tend not to be engaged in full-time employment nor are they adequately educated on the lending policies of the financial services industry: college students and senior citizens. In terms of college students, the lack of information on their consumer debt levels (obscured by student loans, private loans, direct parental payments, and other forms of family assistance), has led to the surprising discovery that the fastest growing group of bankruptcy filers is 25 years old or younger. The credit card industry has funded research studies that present an idyllic world of tech savvy and financially responsible college students that belie the escalating social problems associated with credit card debt. Through the â??rose colored glassesâ? of the credit card industry, which claims that approximately 3 out of 5 college students pay off their charges at the end of each month, the credit card is portrayed as a â??knight in shining armorâ? a la Jerry Seinfeldâ??s advertisements for American Express. Instead, the flawed research methodology of these few industry sponsored studies ignores such crucial trends as the use of student loans to pay credit card debts (80% of college students are enrolled in public schools), surveys that explicitly exclude students that have dropped out of college due to high credit card debts, informal family loans or payments for reducing high interest credit card debt, supplementary private loans for paying off credit card debts, and inclusion of parentsâ?? credit cards (where students are secondary card users that are not responsible for monthly charges) [2]. Furthermore, by focusing on the lifestyle enhancements that credit cards offer to â??mature â??students, public attention has been directed away from the social problems that have emerged from their unprecedented expansion over the last decade. These include physical maladies (from anxiety, excessive smoking and drinking, depression), parental authority conflicts, loss of scholarships due to extra jobs for monthly payments (low grades), job rejection, denial of auto and home mortgage loans, rejection for student loans for graduate and professional school, decline of apartment rental applications, increasing defaults on federal student loans, and, in the most extreme cases, student suicides; the latter was recently reported in a Sixty Minutes II program (www.cbs.com and www.creditcardnation.com). Not incidentally, the sharp increase in consumer debt among college students has defied the recent decline in consumer bankruptcies; last year, the number of bankruptcy filers 25 years old or younger jumped to nearly 150,000. In view of the enormous increase in consumer credit offered to college students and the ongoing slowdown in the U.S. economy, the experiences of recent college graduates offers instructive insights into industry responsibility in the rapidly growing group of bankruptcy files. Significantly, the case-studies reported in my 1999 study include students whose parents emphasized the importance of credit as a convenience and debt as a moral vice.[3] Even in these cases, the promotion of credit cards on college campuses--where universities â??earnâ? multi-million dollar annual royalties for exclusive credit card marketing agreements--quickly erodes cautious family values toward the use of consumer credit and the accumulation of debt.
Re: Help!! Resp 4 Credit B4 Turned NanaC, Since you so glaringly excluded my name I will infer that you are refering to me with this quote...it must be nice to be the perfect parent... ===================================== Along with these kiddos come their parents and the parenting styles are quite interesting, to say the least. I bet you get my drift, eh? ===================================== Despite your attacks both privately and publicly I am not going to lower myself to call anyone names or insuslt them....everyone has a right to an opinion...and I'm going to state mine whether you like it or not! clc
Re: Help!! Resp 4 Credit B4 Turned I appreciate all of the information that has been presented to me by all involved parties. As I said before, I am open to all suggestions, whether they be positive or negative. I don't appreciate people incinuating that I am immature, or that I have NOT learned my lesson, because I have. This credit card is the only negative information on my credit report. I have had 2 car loans in the past 3 years, and I don't even have a 30 day past due on either of them. I also have two credit cards now that have me as never paying late (Pays as Agreed). My credit is good other than this credit card. I think I have decided to take the settlement offer for this. I appreciate everyone's help...Especially clc. I took your opinion in high regard, as I am very close to my mother, and respect her opinion. Thank you for being understanding...I didn't see it as molly-coddling at all. I made a mistake when I was 17, and I am paying for it now. I will take responsibility for this. Thank you to everyone. -Eric
Re: Help!! Resp 4 Credit B4 Turned Guys, I have another question for you... When I settle this account (remember it is about $3,000, and they are willing to settle for $500), how wil it look on my credit? What will it show? How much would I expect my score to go up (in a general sense)...? I am just wondering what it wil say if, perchance, I can't negotiate with them to have the tradeline completely removed as part of the settlement agreement. Any info? -Eric
Re: Help!! Resp 4 Credit B4 Turned It will report as: paid/settled. $0 balance. Not exactly a positive piece of info to have on your report. Don't expect your score to go up. After you pay, you may just want to start disputing the tradeline on your own through the CRA's.
Re: Help!! Resp 4 Credit B4 Turned Eric- Thank you for the nice comment...it sounds to me like you are a very responsible young person. At 21 you are still so young and have a long credit life before you. Pick through some of the posts here...use credit wisely...in the future you will want/need to finance a home purchase or other necessities in life. Do go back and read Professor Manning's article about college kids who got caught in the credit spiral...he tells 2 lengthy case stories which not only will educate you....but it will also be helpful to your friends that find themselves swamped with pre-approval offers that are too good to resist. I am also happy to hear you have a good relationship with your mother...it is a healthy barometer for future relationships with women. Good luck and prosper! clc
Re: Help!! Resp 4 Credit B4 Turned clc, for someone who just arrived to this board in June, so far you've had trouble with me, George, Nana, and who knows who else. As barometers go, the weather outlook doesn't look too bright. Good luck to you in getting along better. Doc
Re: Help!! Resp 4 Credit B4 Turned Of course, she said exactly what you wanted to hear. Eric, I truly hope you have learned your lesson. If not, you will have big problems in the future. Take the settlement. Then send your proof of age to the cra's and they most likely will remove the derogatory listing. Good luck to you.
Re: Help!! Resp 4 Credit B4 Turned PsychDoc- Well I don't know what "trouble" means to you...you mean I disagreed with you...geesh what a sin! I have never had trouble with GEORGE...when you make statements like that...back them up with proof! You obviously have not read "open love letter to GEORGE" thread.... clc
Re: Help!! Resp 4 Credit B4 Turned maybe an apology re:inaccuracy of your last post is in order....??? clc
Re: Help!! Resp 4 Credit B4 Turned hmmmm...the silence is deafening on my last post..... I have gone back and read all my posts and I will defend my record...since I've been a member here in early June I have not only tried to post in a friendly, helpful, supportive and caring manner...I have also talked on the phone with a couple of members who wanted to discuss their situations with me. Even as a brand new member I contributed to a member who was in a financial crisis....as I understood what it feels like to have your back up against a wall. The controversial posts I was involved in were one with some troll named "Robert" who was advertising some bogus scam...and he was banned by pbm and a thread where a zb1945 was viciously attacking GEORGE and he was banned pbm not once but twice when he came back as "doctor". I have had a number of private emails that supported me on this thread...people who thought I was being understanding, compassionate and supportive to this young man...and didn't want to post publicly for fear of getting "flamed"... whatever....the result is the same...eric is taking the advice that was given....the fact that my posts made an impression on him I think he made clear when he commented on his mother and his relationship with her. This thread has been an eye opener for me...let me quote from Gearge Orwell's Animal Farm...."some pigs are more equal than other pigs" (I am NOT calling anyone a pig...this is a quote from the book)...just because someone is a newbie in credit repair doesn't mean they don't have valid opinions on other life issues. I rest my case..... clc
Re: Help!! Resp 4 Credit B4 Turned I'm a little dissapointed with this comment here. Since I started here with CreditNet, I have really looked up to psychdoc. I value his opinion and appreciate the time he takes to help other people out, especially because he has almost perfect credit and is getting no great benefit (besides the social one) from the board anymore. I read through the posts and thought everyone had valid arguments. I don't really know why there is "trouble" with clc, or if it is justified. She is just speaking her opinion just as everyone else is. I think she might have said something about him coming off too strong---again an opinion. While I think he did come off strong, sometimes in order for people to get the message you need to give it to them straight and hard--not everyone will agree with that. I have a tendancy to stick up for the under-dog, so maybe that's all I'm doing now, but I really feel all this "trouble" with clc is unjustified. I admire the way Clc recognized that she might have angered a couple fellow creditnetters and tried to rectify the matter (unsuccessfully). I'm all for voicing your opinion but don't think anyone should be harrassed for speaking it. scott p.s. My mom raised 5 kids on her own, and while she has no degrees in Psycology, but I will value and count on her knowledge when I have kids. I can't remember who said the thing about the ducks and all that, while you may not be a vet, I guarentee you now a hell of a lot more about ducks and goats then I do. We live in an all or none culture. Your either a vet or your not. I tend to look for the grey areas.
Re: Help!! Resp 4 Credit B4 Turned Ok, so you didn't have trouble with George. Whoops. Your incredibly nasty comments toward NanaC speak for themselves, though. I'd rather not interact with you anymore. Thanks. Doc
