by "Steven Lang" (StevenLang)
Published 03/20/2017 at 12:38
by "Steven Lang" (StevenLang)
Published 03/20/2017 at 12:38
No Tags
STARS: 0
!!! UNKNOWN CONTENT TYPE !!!
!!! UNKNOWN CONTENT TYPE !!!
!!! UNKNOWN CONTENT TYPE !!!
"Mercedes Streeter" (smart)
03/20/2017 at 13:10, STARS: 2
Just because the car’s not been repo’d and the person not filed for bankruptcy does not mean the danger isn’t there. I myself and so far underwater with everything thanks to my parents. I have not and will not file for a bankruptcy (even though I’ve technically already done it twice, thanks parents!).
Sub-prime loans are possibly one of the most predatory loans you can get into save for a loan from a for-profit school.
"Steven Lang" (StevenLang)
03/20/2017 at 13:39, STARS: 1
Point taken. My wife’s best friend experienced the same exact reality when she was in her 20s.
I hope the world of cash is a kind one to you.
"nermal" (nermal)
03/20/2017 at 16:21, STARS: 1
Funny that I’ve read the exact opposite:
Credit scores are surpisingly accurate. People with higher credit scores are more likely to make their payments, and those with lower scores are likely to not.
"gmporschenut also a fan of hondas" (gmporschenut)
03/20/2017 at 22:10, STARS: 0
The (imho) crazy long auto loans would hopefully slow the implosion if/when another crisis occurs. I have little faith the banks learned anything from 2008.
"Nimbus The Legend - Riding on air like a cloud" (nimbus-the-legend)
03/21/2017 at 18:10, STARS: 0
im probably the only one thinking this but...
OF COURSE BANKRUPTCY AND REPO RATES WILL GO DOWN!!!
I mean once EVERYONE has filed for bankruptcy and gotten their stuff repo’ed there wont be anyone left to file anymore right!? Freakin DUH!!! I mean how many times can someone file for bankruptcy and get repo’ed right?!?!
Think of it like this, there were a finite amount of people who got hit by the subprime loan crash. And all those people pretty much got screwed around the same time span, so of course, at first the bankruptcy and repo rate is going to be this big large number, but then as time passes, that number is going to get smaller and smaller because the bulk of those people already have gone bankrupt or got repo’ed!
the best analogy i can think of is cake.
If someone eats 5/8s of a cake in one sitting, then of course the next time they eat cake, no matter how much they eat, the amount of cake that can or will be eaten in the next sittings will be smaller and smaller and will never increase!