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.

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 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

Why should he be treated any differently from other British soldiers on the warfront, yes. He is royal blood and he killed 30 men but why is that something to give 9 pages and the headline of todays copy of The Sun. I find it horrible to see where there are other men risking their lives.
Yes, my older brother is out there fighting at the moment and it is my ambition also.

My credit score says I’m at High Risk. I finally got my first credit card 6 months ago after getting rejected several times. Does everyone start out with a low credit score? I heard it’s because my lack of experience with credit, but I know of others who’s first credit cards were Target cards and they’ve rejected me more than once.

Could it be possible from when I joined a music club (like get 10 cd’s for $1 type thing) when I was 14 and I never paid them? I kept getting warning and threats in the mail, but they eventually stopped. Do you think that could have affected my credit eventhough I was a minor?

I have great credit and the house/property is almost half paid for but nobody wants to loan on a geodesic house even though it would seem the risk is fairly low. The property was appraised at 300K and I only owe something like 175K on it. My problem is that the loan I have is just a gap loan and expires in less than a year.
Another problem is that there are really no comps in the area.

That’s just it too. Took out 3 cards when I turned 18 maxed them, & didn’t pay them (same old story, statistic); I have an old hospital bill as well from a very bad stomach virus. Now my credit is obviously bad, that’s what you get!!! Now I am almost 23, I’m more than ready to start establishing positivies on my credit. I was going to just go the credit card route, or rent- own from Aaron’s, but, I was hit by a drunk driver a couple monthes back, and it’s priority dropped. A week or so later started exp. pain & have had to go to chirpractor from 3-2 x’s a week since- anything to not have to take pain medications, and still maintain. Recently I have taken a look at maybe taking out an unsecured signature loan to not only help re-establish my credit, as well as get a jump start on my medical bills before my settlement comes in. I would love to hear back from those that have been approved for a loan under their personal bad credit/ high risk circumstances, & actually obtained one.thanx

But Police officers don’t? I don’t think its fair , that marines come back from Iraq and get treated like heroes (which I think they are). But cops just get the middle finger! lol , They put their lives online every night as well , and with the death rate of this war , they are both equally risking their lives for people. Sorry I guess this is kind of a rant , my brothers a cop. Just wanted to say to all you other cops out there that your sacrifices are appreciated.

Such as- Can it be transferred as easily as at a bank in the future and are there any more risks or hassle than at a bank.
I am retired and want safety.