Stop paying credit cards. Give yourself a bailout!!

Yes officially credit score should not matter when employers check it, but many companies would not even consider you, since you are not trustworthy in their eyes. These days even lower level employee can get their hands on very sensitive data, and credit score is just one of the tools to veto candidates.

Very bad move on such a small debt. jmho
 
Quote from RedDuke:

Yes officially credit score should not matter when employers check it, but many companies would not even consider you, since you are not trustworthy in their eyes. These days even lower level employee can get their hands on very sensitive data, and credit score is just one of the tools to veto candidates.

Very bad move on such a small debt. jmho
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Not relevant at all. No one cares about credit scores. I have never been asked for it nor I know any of my classmates, coworkers.

I think jobs related to financial crime with the FBI or law enforcement do take a look at your credit and question you about them.

I REALLY WOULD LIKE TO KNOW WHERE MOST OF YOU TAKE THIS JOB TO CREDIT SCORE INFORMATION FROM. I HAVE NOT SEEN IT IN OVER 7 YEARS IN THE ACCOUNTING/FINANCE FIELD.
 
Quote from jueco2005:

Not relevant at all. No one cares about credit scores. I have never been asked for it nor I know any of my classmates, coworkers.

I think jobs related to financial crime with the FBI or law enforcement do take a look at your credit and question you about them.

I REALLY WOULD LIKE TO KNOW WHERE MOST OF YOU TAKE THIS JOB TO CREDIT SCORE INFORMATION FROM. I HAVE NOT SEEN IT IN OVER 7 YEARS IN THE ACCOUNTING/FINANCE FIELD.
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Most potential employers routinely "pull" a credit bureau report(CBR) as part of the hiring process. Rather than a quantified credit score, they look or shall I say glance at how timely you pay your obligations AND how many applications for additional credit a candidate applies for.

Reflection of character.

Most potential employers also spend the moola for a background check as well as a drug test. The latter is mandatory for a DOT job. So is a physical.
 
Quote from efficiency:

Most potential employers routinely "pull" a credit bureau report(CBR) as part of the hiring process. Rather than a quantified credit score, they look or shall I say glance at how timely you pay your obligations AND how many applications for additional credit a candidate applies for.

Reflection of character.

Most potential employers also spend the moola for a background check as well as a drug test. The latter is mandatory for a DOT job. So is a physical.
More...

:eek: :confused:

Dont know where you are from. But down here in florida it just doesnt happen.

Virtually most people have their credit damaged due to
-housing
-job lost
-less income
 
A little over 2 years ago, I gave Chase the middle finger when they raised my interest rate from 8 to 24% despite 100% perfect credit history on every loan I had ever had. Felt real bad about it at first, especially when they would call 15 times a day. But I ran out of money and I would have never been able to get out of it because all the money would go to interest.

I settled one about 9 months later and the other one about a year ago. The funny thing is that defaulting on 2 credit cards only lowers your credit score about 100 points, and it has recovered about 40 points since then. American Express and Capital One never tried to take advantage of me, so I have been a loyal customer of theirs for years.

Honestly it was the best thing I could have done. I now have a much better job and have saved some money and am buying a house. What a turn around personally in the last 2 years. I have a great burden lifted that I never thought would go away.

BTW, for all of you Holier than Thou's out there, I did settle it and it is showing as paid on my credit report and I had to claim $15k in cancelled debt on my taxes over the past two years.
 
Quote from Sandybestdog:

A little over 2 years ago, I gave Chase the middle finger when they raised my interest rate from 8 to 24% despite 100% perfect credit history on every loan I had ever had.
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That is the same BS jueco is shoveling.

When the credit card company raises their interest rate you can simply refuse the new rate. They'll disable your card for new purchases but you can, by law, continue to pay down your balance (if you have one) at the old interest rate.

Everyone knows this except you two evidently.
 
Quote from Sandybestdog:

A little over 2 years ago, I gave Chase the middle finger when they raised my interest rate from 8 to 24% despite 100% perfect credit history on every loan I had ever had. Felt real bad about it at first, especially when they would call 15 times a day. But I ran out of money and I would have never been able to get out of it because all the money would go to interest.

I settled one about 9 months later and the other one about a year ago. The funny thing is that defaulting on 2 credit cards only lowers your credit score about 100 points, and it has recovered about 40 points since then. American Express and Capital One never tried to take advantage of me, so I have been a loyal customer of theirs for years.

Honestly it was the best thing I could have done. I now have a much better job and have saved some money and am buying a house. What a turn around personally in the last 2 years. I have a great burden lifted that I never thought would go away.

BTW, for all of you Holier than Thou's out there, I did settle it and it is showing as paid on my credit report and I had to claim $15k in cancelled debt on my taxes over the past two years.
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Good for you. Non of my CC wanted a deal, I warned about my inability to pay if rates tripled; but I was ignored. Many months later when debt had risen they tried to offer me deals which I ignored.

My car loans, student loans have been paid. They did not change rates, nor they bothered me at all.

I do regret losing my American express, It was so comfortable.

My lawyer tells me these debts wont even make it to court and that in 5-7 years I will have a new clean record.

So far I haven’t needed credit for anything, In case we do, we will use my wife's which is very good.
 
Quote from 377OHMS:

That is the same BS jueco is shoveling.

When the credit card company raises their interest rate you can simply refuse the new rate. They'll disable your card for new purchases but you can, by law, continue to pay down your balance (if you have one) at the old interest rate.

Everyone knows this except you two evidently.
More...

If that is true I did not know it. Nor did anyone in my network.

But how can that be true when minimum payment doubled in all of them??
 
I have also heard horror stories from friends and people I know.

Some guys took short selling in their home mortgages to save their credit somewhat. Guess what?? They reported the difference as capital gain to the IRS and they have gone from bad to WORSE!!!!.

CC companies have sold your balance to many collectors, when you paid one you thought we were off the hook but you didn’t.

Example: my cousin got a voicemail from a very sweet voice telling him about a nice settle offer if he paid 30% of the balance due in cash.

I do not know the amount but he took the offer. In less than two months he gets a call from another collector, collecting on the full balance again. He told them about the deal and they said it had nothing to with them and that he was still liable for the other balance due.

Some CC companies have also reported cash sum payments as a capital gain. And now you owe the IRS.
 
Quote from jueco2005:

Not relevant at all. No one cares about credit scores. I have never been asked for it nor I know any of my classmates, coworkers.

I think jobs related to financial crime with the FBI or law enforcement do take a look at your credit and question you about them.

I REALLY WOULD LIKE TO KNOW WHERE MOST OF YOU TAKE THIS JOB TO CREDIT SCORE INFORMATION FROM. I HAVE NOT SEEN IT IN OVER 7 YEARS IN THE ACCOUNTING/FINANCE FIELD.
More...

Almost all decent firms in NY, NJ and CT tri state area will check credit score, and they weight it heavily against candidates. One of my close friends was refused a 6 figure job even though he was way more qualified than other candidates, but with bad score. His friend worked in HR for the firm, and told him that that was the reason.

It might not matter in Florida, but it matters a lot where I live.

But the point is, it is just 12K or 15k, why even bother defaulting????
 
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