Credit Risk News

Considering that subprime mortgage lenders were not regulated where due diligence on extending credit to individuals was unchecked, who is to be blamed for this? when lenders found that the debt was of poor quality, they simply kept selling their portfolio to banks and hedge funds to throw the debt on their books and gain immediate profit.
Where was the SEC or Fed Resv to ensure compliance? for the past 5 years or so, the R.E.market has been booming.Were they not aware that the bulk of the industry was fueled by low interest rate offers 3/27 financing schemes? how stupid was the Government to sit back and not realize the growing risks? Now that the sh** has hit the fan are the NECONS ( SEC/Fed Resv) starting to probe into this issue. Typical typical ! now we are in a free fall. Do you think that the USD 38Bln dollar injection of the Fed reserve will solve this problem? its only a temporary solution to liquidity.

I’m debating this with my boyfriend.
He says that if he has bad credit, and I have good credit, and we get married, his bad credit will not affect me at all.
I say that when we’re married ,we share money, so any monetary problems HE has become monetary problems WE have.
Is he right, or am I?
OH, my boyfriend doesn’t have bad credit, we’re just giving a hypothetical situation! =P

I had some trouble with credit cards in the past and it’s all catching up with me now. I would like to get a loan to pay off all of my debt so I can start fresh again. I have a full-time job and I just want to get my credit back on track. It’s not that easy when you have bad credit, because nobody will approve you for a loan. Are there any places that give loans to people like me?

Trans Union score is 526 Very Poor (the worst rating)
Experian score is 658 Non-Prime (the worst is High Risk)

I make good money now and most everything has been paid off or will be in a couple months. My bankruptsy due to ex’s business venture failing comes off in December. Thanks for any help!!

I am going to be taking the Basic Law Enforcement Training program this year. I should be done in December, so hopefully I’ll be finding a job around early January.

Anyway, I currently have bad credit. 545 score to be exact. I have heard it’s very difficult to become an officer with bad credit so I am seriously considering filing bankruptcy. I have heard it takes around 6 months and your credit will be as good as new and thus, hopefully I would be able to get a job as a police officer.

So, does anyone know if this is the best way to go about it?

Thank you for any information.

I am currently going through a divorce and one of the main reasons I am divorcing my soon to be ex is that he has ruined me financially. My house is foreclosing and I need to find an apartment between Dighton, Ma and Bridgewater, Ma. Here’s my problem. My credit since I have been married is terrible. I am very dependable and have been at the same job for almost 8 years. I can provide personal and professional references and pay a few months rent in advance if need be. What can I do? People with bad credit have to live somewhere, right? Help.. I don’t want to end up homeless. Any ideas or suggestions would be great.

I have approx. 40K between 4 credit cards that I had before I was married. These credit cards are in my name only, not my husband’s. I have always paid my debts on time and have never been late until the past few months. I am now past due 30-60 days and now owe late fees and over the limit fees and can’t even afford the minimum payments any longer. I have been basically sticking my head in the sand about my financial situation for almost 2 years and borrowing from Peter to pay Paul.

My husband and I jointly have a home loan with a balance of 92K and a home equity loan with a balance of 30K. Our home is worth about 120K so we have no equity. We are current and have never been late on our mortgage loans. We live in Indiana.
My husband has a car loan in his name only. It is current and have never been paid late.
My husband has 2 credit cards with a balance of 11K. These are current and have never been paid late.

I now only work part-time making approx. $300-400 gross per month. I am trying to also substitute teach to make more money.
My husband works full-time and this is how we afford to make our mortgage payment, car payments and his credit card payments on time. We are trying our best to make certain his credit stays good.
My husband has a credit score above 680. I believe mine was 640 until the last few months - now I am sure mine is terrible due to my lack of payments.

I am looking for advice. I have tried to negotiate with my credit card companies and offered to send as much as I can until I can find a higher paying job/more hours. However, they are not agreeing to this and won’t stop the fees/high interest rates from accumulating. I almost feel like it is pointless to send anything because my balance just gets higher after sending a payment.

I definitely want to pay my obligations. I have looked into credit counseling but until I have more income, I can’t afford to make the kind of payments that is required. One counselor suggested that I file bankruptcy individually but I don’t know if that is a real option since I am married. My husband’s credit is perfect and I don’t want to risk his credit.

If I can/should file bankruptcy as my only option, can I still pay back my debt - just on my own terms that I can afford?

If I don’t pay my credit cards, what will happen? Can they take my house or affect my husband’s credit? If they sue me, will the court allow me to make payments that I can afford?

I know this is a lot of information and questions. I truly appreciate your help!!! The stress of this is killing me. I am so tired of worrying.
I have twins so it is tearing me apart to have to put them in daycare in order to work full-time until they are a bit older. Plus, by the time I pay for daycare it’s hardly worth it.
Marq suggests ignoring the calls, etc. But won’t the credit card companies sue me and then I’ll even owe more? If they do sue me, can I get my house?

I have had a couple tickets and just recently got my license back after it was suspended for 2 years. I also have some bad things on my credit report but I can’t seem to find car insurance for less than like $140 a month, and that’s just liability! can anyone help me

I’m just wondering if there is anyone on here who has gotten a good apartment in a complex even with bad credit. I’m taking a teaching job far from my home town, and I need an apartment. However, my credit score is low and I’ve never rented before. Does anyone know if I can offer a bigger deposit or anything like that if my credit doesn’t check out? Any success stories on here?
I’m not looking for a dumpy place. I’d like something in a complex.

I have a friend with bad credit and she’s tired of prepaids. She’s trying to find a cell phone company that allows people with bad credit to have something at least. Which one is good. I don’t have bad credit and know most companies will give you no hassles, but don’t know anything about bad credit. Which company should she try?