It amazes me...

I find this board to be very helpful. But it truly amazes me that different people can have such totally different experiences with the same creditors. I just wonder what the difference is??

 

Renae,

I speculate that everyone has different "spin" on their own situations. Often times there is more than "meets the eye" in their posts. We all have our secrets and usually only fess some of the story. For Instant: If I had the habit of always sending in a credit card payment 3 days before it was due, I would most likely have late fees on a regular basis. After numerous letters from the creditor and calls about the late fees adding up, causing me to be overlimit... adding more fees. I might be inclined to go into a forum such as this and trash the credit card company for their outrageous fees and harrassing customer service. Rather than make a true self examination of my financial habits. It happens, beleive me.

Also our human condition tends to focus on the negative. So very rarely do we feel motivated to run out onto the Internet and find that special forum to proclaim our satisfaction over the shampoo we are using. No most of the time we save our energy for complaining. This is another truth.

Then finally there is probably the numbers game. I can't imagine any business with millions of customers being able to comlpetely satisfy the entire base. If they are making 90% of them marginally happy, they are probably considering it a success. So for the 10% that is falling through the cracks, they are motivated to "shout".

My 2 Cents,

BarryN

renae wrote:
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I find this board to be very helpful. But it truly amazes me that different people can have such totally different experiences with the same creditors. I just wonder what the difference is??

 

I couldn't agree with you more! I have always had a tendency to "shout it from the mountain tops" when I encounter good service. I think that comes from being a Professional Marketer where company image is important to me and I try to get others to see that even if they've had a bad experience. I'm also wiling to admit on this board that I have the credit from hell and take full responsibility for it getting that way as well as pay the price for getting back to where I want to be!!

 

Your observations are mostly correct, especially regarding our desire to only report the negative (hey where have I heard that before), rather than the positive. Take myself for example, the first time I used the Gillete Mach 3 I thought "hey this rules it kicks the Shick FX all to hell", I kept meaning to post this on their site but somehow never managed to do so.

Now obviously any number of people's problems are brought about by bad financial habits, while others let their personal bad experience (one of the few that fell through the cracks) to color their opinions on a particular company.

Still, one must take heed if their are too many complaints about a company or even industry (car salesman and collection agencies being the two most notorious examples).

Since I have no recent bad experience with any financial institution I like to think I take an unbiased approach. So when I see the same type of complaints leveled against a company over and over I am more inclined to believe "where their is smoke their is fire"

Another fact is what is considered the acceptable 'norm' for treatment by sub-prime companies, or sub sub-prime. Too often we hear "you have bad credit so you deserve everything that is done to you", when we should be debating whether these practises should even be accepted in the first place. For if recent history demonstrates anything is that these same practises if not checked at the sub-prime level soon enough make their way to the prime levels.

 

Legislated Usury

Steven,

Quote: Too often we hear "you have bad credit so you deserve everything that is done to you", when we should be debating whether these practices should even be accepted in the first place.

I stipulate that this is the real meat of the issue. Why is the "sub" sub-prime industry even needed? Perhaps its the American attitude that we all deserve credit, no matter our situation or habits. My theory is if we ultimately elimitated the usury practices of the "sub" sub-prime lenders like "pay-day" loan sharks or even "aspire" type cards, most consumers would have to face reality and correct poor handling of money. We both know this would do the country and the consumer a world of good. But as long as the sharks are allowed to take advantage of the American's natural privilege to have credit, we will have the viscious cycle repeating itself. I am not sure of the answer to this dilemna. But I do know we can encourage everyone who makes an honest attempt to correct past financial mistakes to learn to be good stewards of their money and credit.

And as far as the folks casting stones on those of us that have not handled money well in the past, I only say the obvious... "Let you not be the first to cast a stone..." We do live in a country that does allow 2nd and third chances or more, and this is what makes it a great place to call home. Nuff said.

So what can we do? We can keep sharing our experiences, strengths, and hopes. And you my friend, can keep exposing the scoundrels of the "sub" sub-prime world and we'll keep cheering you on!

BarryN
(Where's Kevin Kelly to rile up the debate?)

 

RE: If we sit back and say not

The results of this are already making their way into the prime world as the vociferous banks look to gouge and screw everybody, regardless of their credit worthiness (that means YOU TOO David D.)

If somebody told you 2 years ago that he believed these practises would come about (First USA, Fleet, the ASSOCIATES, Providian), the right to have your day in court denied (MBNA, AMEX), your pension at risk from creditors!! would you have believed him, or more likely would you had told him "get out of here your insane", so unthinkable was it.

At this rate the only thing thats gonna be guaranteed in this country is "the right to be indebted for life", ESPECIALLY (when, not if) they get those visciously anti-consumer bankruptcy laws passed and remove all the protections built up for several generations.

Kevin Kelly ya gotta love him and those threads he generated

CreditWorks is a FRAUD

Adam Anderson is a FRAUD
(perhaps we could bring back the issue "is credit repair software really helpful and necessary or can one do things by himself for free?", with a sidenote "how much risk and potential harm do you take when using such if the CRA's redflag you for attempting credit repair"; worse then triple homicide in their books.

You even had your personal antagonist who under many handles continously portrayed you as "making BIG MONEY from the credinet users and being in the pockets of the card companies who advertised on your site" bahahhahaaahaahhah

Sure was better than fighting over the definition of 'recently' bah!