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Re: OT: How to interpret credit report?
On Tue, 18 Jul 2017 20:45:44 -0700, "billbowden"

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It makes the creditors go away with no recourse.  They can challenge
the bankruptcy and go to court on their own, but that usually fails.
        
                                        ...Jim Thompson
--  
| James E.Thompson                                 |    mens     |
| Analog Innovations                               |     et      |
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Re: OT: How to interpret credit report?
On 07/19/2017 12:21 AM, Jim Thompson wrote:

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Chapter 7 is essentially the official, legally binding way of proving to  
one's creditors that they're trying to bleed a stone. They don't just  
take your word for it.

Re: OT: How to interpret credit report?
On 07/18/2017 11:45 PM, billbowden wrote:

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The debt collectors the unsecured debt was sold to have no way of  
knowing that. They're gonna keep calling and harassing regardless.

Re: OT: How to interpret credit report?
On Tue, 18 Jul 2017 20:45:44 -0700, "billbowden"

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Discharging the loans will *improve* your credit score.  It'll take a
while but it will improve.  Keeping the outstanding loans active will
haunt you forever.  Not to mention the pay-up-deadbeat calls.


Re: OT: How to interpret credit report?
On 7/4/2017 7:22 PM, billbowden wrote:
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Or, had something unexpected that came along -- like a hospitalization,
court case, etc.

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I'm sure the airlines and car rental places LOVE you...

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Nonsense.  Do you think the same of cars?  I.e., you get addicted to
DRIVING to places and then find yourself unable to WALK to those
same places?  How far would you walk before begging a neighbor for a
ride?  Or, hiring a cab?

Re: OT: How to interpret credit report?

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I can walk to my bank, 4 grocery stores, the post office, 10 fast food  
places, the Social Security office, and most anywhere else I want to go.  
Around here, the bus system is pretty good. I can buy a day's pass for $1.50  
and ride the bus all day long. My current truck is 17 years old and has 162K  
miles on it. I may drive a maximum of 3K miles per year nowadays. I have no  
use for credit.

.





Re: OT: How to interpret credit report?
On Wed, 5 Jul 2017 17:50:14 -0700, "billbowden"

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My current truck is 16 years old and has only 42K miles on it (and I
paid cash for it... new ;-)
        
                                        ...Jim Thompson
--  
| James E.Thompson                                 |    mens     |
| Analog Innovations                               |     et      |
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Re: OT: How to interpret credit report?
On 7/5/2017 5:50 PM, billbowden wrote:
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Ever take a plane anywhere?  Ever buy anything on-line?  Stay in a hotel?
Buy a piece of test equipment and have it shipped ("Dear vendor, there
will be a fat envelope arriving with lots of crisp $100 bills, next week,
as prepayment for my Model 123 Gonkulator.  Please don't alert the Treasury
Department of this $10K cash transaction as I can assure you there are
no nefarious reasons...")

Or, do you rely on (ick!) a checkbook or worse, debit cards?

I've got an offsite coming in Denver or Vegas.  Do I spend 10-20 hours
driving there (paying CASH for gas and food along the way) or take a plane?
Do I live out of my car -- or rent a hotel room?  If I want to treat my
colleagues to dinner/drinks, do I bring along enough cash for all these
things?

I've never carried a balance on a credit card.  So, a credit card represents
the convenience of a check -- without the hassle of a checkbook *or* the
risk of a debit card.  I don't have to rush to a bank to get a pile of
cash if I need to catch a flight out for a medical emergency, etc.

And, because the card issuers are accustomed to seeing large transactions
paid off promptly, they don't raise a fuss with a vendor if I find myself
needing to make a big, unexpected purchase.

Credit is only bad if you don't know how to use it.  Just like anything
else that can be "abused"...

Re: OT: How to interpret credit report?

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Yes, I recently took a plane to Texas for $700 round trip. Somebody else put  
it on their credit card and I gave them the cash in 100 doller bills.It was  
for my grand Niece's HS graduation. I gave her a stack of $2 bills and she  
loved it. Nothing feels better than a stack of hard currency. A friend of  
mine bought a new truck and  paid cash with $100 bills in a briefcase.


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Yes, I use PayPal.

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Mostly, I use a debit card. Never had a problem.

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Yes, I know. Somebody owes me 35K and filed bankruptcy to avoid paying me.  
They had 8 credit cards all in default.


.  



Re: OT: How to interpret credit report?
On 7/5/2017 8:59 PM, billbowden wrote:
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So, you *do* have a use for credit.  You just don't have your *own*
credit!

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It's paper.  It feels like paper.

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And, his name is now on a list (IIRC, it used to be $10K transactions
but had been lowered to $3K).  Don't want drug dealers to be able to launder
money as easily as buying a truck!

Every vehicle I've purchased (always "new") was paid for on the spot
(though by signing a check, not carrying tens of kilodollars in currency).

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When you *do*, you'll be disappointed.  With credit cards, I'm never out
a dime if the card is stolen, hacked, etc.  (technically, there is a $50
deductible but I don't know anyone who's been bitten by it).

I had a problem with a credit card some 40 years ago... a charge turned
up on it that I was *convinced* wasn't mine.  After disputing this with
the company, they sent me a photostat of the transaction:  an airline
ticket I had purchased on *another* card that I had left at a bank
teller's window in Ohio TWELVE MONTHS EARLIER (the time of the trip).
It had taken them a year to associate the old transaction with my
*replacement* card.

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And you've never known an employer to go out of business owing employees
for the most recent pay period?  Plus, all of their suppliers?

We *all* use credit, every day.  If you have employees, they are extending
credit *to* you -- because they are giving you their labors IN ADVANCE
of payment (a week, two or month).  If you hire someone to mow your lawn
and don't *prepay* him for that, he's extending you credit.  If you *do*
prepay him, then *you* are extending credit.

Just like making an agreement (via a charge card) to purchase an item,
receiving the item and then failing to pay the amount owed.

You're just deliberately limiting yourself to transactions that you can
personally manage with the cash in your pockets.  Or, risking that
cash when you could have some other entity *vouch* for it on your behalf
(e.g., a bank, CC company, etc.)

Re: OT: How to interpret credit report?

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Yes, long ago I worked on contract and did all the work on the company  
premises with their equipment and assigned hours.They ran out of money and  
wanted me wait several weeks to be paid. Meanwhile there was no more work to  
do so I was basically laid off with no paycheck. I finally went to the labor  
board where they infomed me I was an employee and not a contractor and they  
would definitely get my past wages paid. Sometimes government is your  
friend.

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Re: OT: How to interpret credit report?
wrote:

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<...>
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Not true at all.  Debit cards, as long as they have a VISA or MC logo,
have exactly the same protections as credit cards, as long as the
transaction goes through the CC system (you use it as credit).  If it
goes through the ACH (?) system (you entered a PIN) the protection is
up to your bank.  All of them cover it anyway but may have more
paperwork.  The only real difference is that until the problem is
fixed, you're out your money with a debit card.  A problem with a CC
only ties up credit.

That said, I still don't use the debit card online and it never leaves
my hands (don't use it in restaurants).

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Your point?

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Employees are first in line to get paid (after taxes owed).

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You're limiting yourself in your use of debit cards, too.  ;-)

Re: OT: How to interpret credit report?
On 7/4/2017 9:22 PM, billbowden wrote:
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I have one credit card and I use it rather carrying cash. All my charges  
on the card are paid each month. There are no fees and no interest for  
me. I have not needed to carry any cash for the last 6 years or so.


Re: OT: How to interpret credit report?
billbowden wrote:
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   Well i have virtually no choice, starve or go into debit.


Re: OT: How to interpret credit report?
On Fri, 07 Jul 2017 01:36:24 -0800, the renowned Robert Baer

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Have to point out that those in fact are two distinct choices.  

--sp  

--  
Best regards,  
Spehro Pefhany

Re: OT: How to interpret credit report?
On 7/7/2017 5:36 PM, Spehro Pefhany wrote:
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    In my opinion it is better to debit than to go into debt,
which is not to be confused with using a credit card.
                                       Mikek


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