ST Alpha - "Dude two fell behind two payments on one debt. Dude one filed bankruptcy thus killing basically all his debts. -- nm" (Reading a Post)

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In response to "If you don't pay your bills, the creditors don't care how much the underlying debt is." by spamlet

Dude two fell behind two payments on one debt. Dude one filed bankruptcy thus killing basically all his debts. -- nm

Posted by ty97 Apr 13 '12, 12:24

(No message)

Responses:

If you're a creditor, do you care? - spamlet Apr 13, 12:26 23
- Absolutely. Person two was two months late but paid me. Person one didn't pay anybody. - ty97 Apr 13, 12:28 2
  - [deleted] 1
    - The calcs on these are maddening. People's scores oftentimes drop when they pay off auto loans early. - David Apr 13, 12:35
- Two months late is not a default, though. They got their money plus interest and late charges. - David Apr 13, 12:27 18
  - but, conversely, if someone can't keep up with smaller payments, why would you trust them with anything larger? -- nm - Andie Apr 13, 12:40 1
    - If I make the assumption that they have made all of their payments over the last two years, I would, yes. - David Apr 13, 12:43
  - It's a warning sign. - spamlet Apr 13, 12:29 15
    - 1. Do you work in lending. 2. If #1 is yes, can you name your employer so I can sell my stock? - ty97 Apr 13, 12:38 4
      - You'd rather lend to someone falling behind on their payments rather than someone who has cleared their debts? - spamlet Apr 13, 12:39 3
        
        I'd rather lend to someone who feel behind on one payment than someone who proved a willingness to screw over all their lenders, yes. - ty97 Apr 13, 12:44
        
        would you lend your own $100 to someone after a friend told you they borrowed from them and then were blown off when it was time to pay it back? - zork Apr 13, 12:42
        
        The manner through which they clear their debts matters a lot. - David Apr 13, 12:40
    - To me, this is the difference between a teenager stealing a CD and Walter White in season four of Breaking Bad. -- nm - David Apr 13, 12:32 1
      - Again, I doubt that the car was the only issue. - spamlet Apr 13, 12:35
    - worked through? no, he's abandoned. nobody will make money from him now but will actually lose. people will still make plenty off #2 -- nm - zork Apr 13, 12:30 7
      - The bankruptcy was 2009. It's already in the past. -- nm - spamlet Apr 13, 12:31 6
        
        it won't be in the past until 2016 or so. -- nm - zork Apr 13, 12:32 5
        
        On the credit report, yes. But from a lending standpoint it is. -- nm - spamlet Apr 13, 12:33 4
        
        we *are* talking about credit in this thread. you're moving the yardstick. -- nm - zork Apr 13, 12:34 2
        
        I'm trying to explain *why* the credit score would be what it is. - spamlet Apr 13, 12:37 1
        
        You are? -- nm - zork Apr 13, 12:40
        
        From a lending standpoint, he's the guy who never paid what he owed. -- nm - David Apr 13, 12:34
- i'd think they'd care far more about a bankruptcy and discharged debts than they would about a slow pay. -- nm - TFox Apr 13, 12:27

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