Bad Credit Before the Crisis
Before the crisis began bad credit was just another way of telling to other banks that one of your clients is not paying the debts on time or is not paying them at all.
The term's significance has barely changed after the crisis came and the cause of all the financial mayhem was the American people that kept asking for money from the banks and couldn't pay the banks back.
Fro what I see it, bad credit should mean that you don't get any more money from any kind of bank or financial institution until you pay all your debts, penalties and taxes.
Why this isn't true I cannot understand.
So, bad credit is just a way of saying that you didn't pay your credits, but here are some more money that you can have and we trust that you will return it as soon as possible.
This should be the advertising catch phrase of the banks for new types of credits.
The previous articles wrote on this subject show you some ways of getting rid of the bad credit report without getting a new credit and I think that they should be read through and through by those that have bad credit.
You and only you can solve the financial problems in order to receive more money and to lead a normal life.
Banks should evaluate the income of a person and only give them money according to the income level.
You make 3000 dollars each month, that means you can probably pay around 6-700 dollars back to the bank and still have a nice way of life.
I don't know exactly how it should work, but how did the banks think a guy making 1500 dollars a month can pay 200000 dollars worth of credit? With simple calculus you can see that he would make 180000 dollars in ten years and he will also need to eat, pay taxes, pay for electricity, heat and water.
So, if this guy would not spend any money and somehow last in the same job for 12 years he would be able to pay the loan, but without interest.
You don't need to be a rocket scientist to realize that this man will have bad credit.
He would simply be unable to pay the money back.
He would need 60 year or even more to pay the bank back and still lead a decent life.
The term's significance has barely changed after the crisis came and the cause of all the financial mayhem was the American people that kept asking for money from the banks and couldn't pay the banks back.
Fro what I see it, bad credit should mean that you don't get any more money from any kind of bank or financial institution until you pay all your debts, penalties and taxes.
Why this isn't true I cannot understand.
So, bad credit is just a way of saying that you didn't pay your credits, but here are some more money that you can have and we trust that you will return it as soon as possible.
This should be the advertising catch phrase of the banks for new types of credits.
The previous articles wrote on this subject show you some ways of getting rid of the bad credit report without getting a new credit and I think that they should be read through and through by those that have bad credit.
You and only you can solve the financial problems in order to receive more money and to lead a normal life.
Banks should evaluate the income of a person and only give them money according to the income level.
You make 3000 dollars each month, that means you can probably pay around 6-700 dollars back to the bank and still have a nice way of life.
I don't know exactly how it should work, but how did the banks think a guy making 1500 dollars a month can pay 200000 dollars worth of credit? With simple calculus you can see that he would make 180000 dollars in ten years and he will also need to eat, pay taxes, pay for electricity, heat and water.
So, if this guy would not spend any money and somehow last in the same job for 12 years he would be able to pay the loan, but without interest.
You don't need to be a rocket scientist to realize that this man will have bad credit.
He would simply be unable to pay the money back.
He would need 60 year or even more to pay the bank back and still lead a decent life.
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