Re: 5 Year Old Bankruptcy…(long, sorry) - Posted by Tom (NC)
Posted by Tom (NC) on October 09, 1998 at 21:53:03:
I appreciate everyone who responded. However I have to take offense at some of the comments. I don’t have my priorities straight? Why do you say this? Because we leased 2 new cars? The cars that we had before the new ones were falling apart and over financed. The leases gave us new, more reliable cars at lower prices (also got lower insurance, too).
What was the question about my maturity level? Why would you even bring that up? I simply asked a question about something that is a serious concern of mine. According to every SINGLE self-proclaimed guru, I should have no problem in REI. I was merely asking the people who appear to do this for a living if that was true. That doesn’t seem immature to me. Actually, taking the time to research this type of investing and asking straight forward questions is VERY mature.
As to the suggestions made: I have been paying on my student loans and they are all almost current. Only one is with a collection agency, but it is held by a college education funding company’s collections department, not _____________ (isert your favorite company name here) Collections. I have tried a few times to get them to update the listing, but student loans are a beast of a different matter. Like you said…old bankruptcy, ok. STUDENT LOANS…they run screaming the other way.
I should note that during the 5 years I have had my bankruptcy on my record, I have financed a used car, gotten an apt, had utilities in my name (no parental or spousal help, no deposits needed when we moved to NC), obtained a normal credit card that has a lower interest rate than the one my wife and I got when we moved to NC. Also, according to the latest credit reports that I have gotten on for both my wife and I, they are totaly seperate. We have only gotten one credit card together. Nothing else has been done jointly (the apt we live in is in my name).
So, thank you for all responses. Any ligitimate help and advice accepted. Criticism will be dealt with harshly… by turning the other cheek!
PS I am not in REI, yet. Just investigating it. Maybe use some of the techniques to buy a house for ourselves, is that possible?