ST Alpha - "Two months late is not a default, though. They got their money plus interest and late charges. " (Reading a Post)

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In response to "If you're a creditor, do you care? " by spamlet

Two months late is not a default, though. They got their money plus interest and late charges.

Posted by David (aka David) Apr 13 '12, 12:27

Bankruptcy is ultimate default.

Responses:

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

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Two months late is not a default, though. They got their money plus interest and late charges.

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