Regionals check applicant's credit rating?
05-01-2014 | 01:30 PM
#61
Airborne bus driver
Joined: Apr 2014
Posts: 224
Likes: 1
From: my seat smells funny
IB,
I am not defending someone for defaulting; dead opposite. I am saying if you take out a loan, then you need to pay that loan back. I did. I couldn't have defaulted if I tried, they'd have gone after my Parents and there is no way I'd stick them with the bill. Loans aren't guarantees, If I take out a mortgage (loan) on a house I plan on selling later as an investment; and when I go to sell the house it is worth half of what I paid for it; the bank doesn't say "oh, well, how could you have seen the housing crises coming, this loss isn't your fault; no need to pay us."
I am not defending someone for defaulting; dead opposite. I am saying if you take out a loan, then you need to pay that loan back. I did. I couldn't have defaulted if I tried, they'd have gone after my Parents and there is no way I'd stick them with the bill. Loans aren't guarantees, If I take out a mortgage (loan) on a house I plan on selling later as an investment; and when I go to sell the house it is worth half of what I paid for it; the bank doesn't say "oh, well, how could you have seen the housing crises coming, this loss isn't your fault; no need to pay us."
05-01-2014 | 01:36 PM
#62
Gets Weekends Off
Joined: Jun 2008
Posts: 939
Likes: 0
IB,
I am not defending someone for defaulting; dead opposite. I am saying if you take out a loan, then you need to pay that loan back. I did. I couldn't have defaulted if I tried, they'd have gone after my Parents and there is no way I'd stick them with the bill. Loans aren't guarantees, If I take out a mortgage (loan) on a house I plan on selling later as an investment; and when I go to sell the house it is worth half of what I paid for it; the bank doesn't say "oh, well, how could you have seen the housing crises coming, this loss isn't your fault; no need to pay us."
I am not defending someone for defaulting; dead opposite. I am saying if you take out a loan, then you need to pay that loan back. I did. I couldn't have defaulted if I tried, they'd have gone after my Parents and there is no way I'd stick them with the bill. Loans aren't guarantees, If I take out a mortgage (loan) on a house I plan on selling later as an investment; and when I go to sell the house it is worth half of what I paid for it; the bank doesn't say "oh, well, how could you have seen the housing crises coming, this loss isn't your fault; no need to pay us."
05-01-2014 | 01:42 PM
#63
Airborne bus driver
Joined: Apr 2014
Posts: 224
Likes: 1
From: my seat smells funny
Ah, caught by the good old "clear as mud" Internet trap; sorry. Thanks for the defense. I agree, I too am shocks that folks are so snippity about paying back what I borrowed. You should have seen the deleted comment.
05-01-2014 | 01:43 PM
#64
Gets Weekends Off
Joined: Jun 2008
Posts: 939
Likes: 0
05-01-2014 | 02:04 PM
#65
Gets Weekends Off
Joined: Jan 2008
Posts: 2,244
Likes: 0
From: CL-65 captain
Back on '09 ish I received 2 letters from 2 separate banks i saying "we know you have good credit but in order to offer credit to other customers we have to increase your rate." 2 phone calls and 2 cancelled credit cards because yes, it is passed on to other consumers.
05-01-2014 | 02:09 PM
#66
Can't abide NAI
Joined: Jun 2007
Posts: 12,078
Likes: 15
From: Douglas Aerospace post production Flight Test & Work Around Engineering bulletin dissembler
FWIW, every employer I've ever worked for pulled a credit report.
Right or wrong, a bad credit report probably results in bad employment opportunities. It is a legal way of discriminating against the irresponsible (or unfortunate).
The irony is that two of my employers declared bankruptcy to avoid obligations they had entered into. The stigma of "not paying your bills" may have ended with my generation when our employers began strategically declaring bankruptcy to avoid pension obligations while richly rewarding their favored executives. It is now more of a legal issue than a moral concern (and the World is worse off for it).
Right or wrong, a bad credit report probably results in bad employment opportunities. It is a legal way of discriminating against the irresponsible (or unfortunate).
The irony is that two of my employers declared bankruptcy to avoid obligations they had entered into. The stigma of "not paying your bills" may have ended with my generation when our employers began strategically declaring bankruptcy to avoid pension obligations while richly rewarding their favored executives. It is now more of a legal issue than a moral concern (and the World is worse off for it).
05-01-2014 | 03:06 PM
#67
Gets Weekends Off
Joined: Sep 2013
Posts: 6,569
Likes: 322
From: Sitting SC at the Five Towns
And you believe everything a bank executive tells you?
05-01-2014 | 03:09 PM
#68
Gets Weekends Off
Joined: Sep 2013
Posts: 6,569
Likes: 322
From: Sitting SC at the Five Towns
The irony is that two of my employers declared bankruptcy to avoid obligations they had entered into. The stigma of "not paying your bills" may have ended with my generation when our employers began strategically declaring bankruptcy to avoid pension obligations while richly rewarding their favored executives. It is now more of a legal issue than a moral concern (and the World is worse off for it).
05-01-2014 | 03:27 PM
#69
Gets Weekends Off
Joined: Jan 2008
Posts: 2,244
Likes: 0
From: CL-65 captain
Yes, I'm very glad that is what you got out of my post (sarcasm).
Basic economics...if the banks lose money on someone, they get their money back from someone else. If you don't believe that, you probably also argue for "free" healthcare.
Basic economics...if the banks lose money on someone, they get their money back from someone else. If you don't believe that, you probably also argue for "free" healthcare.
05-01-2014 | 03:41 PM
#70
Banned
Joined: Apr 2014
Posts: 481
Likes: 0
From: Da Bus
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