ST Alpha - "It's a warning sign." (Reading a Post)

SlickerTalk
Search Archives
The Leaderboard
The FAQ

Down to Post

Backboards:

Posts: 153

In response to "Two months late is not a default, though. They got their money plus interest and late charges. " by David

It's a warning sign.

Posted by spamlet Apr 13 '12, 12:29

The bankruptcy guy is likely no longer in trouble. The guy falling behind on his car payments is.

If I'm a new lender, I'm looking at the bankruptcy guy and saying he's worked through the issues. The car guy hasn't.

Responses:

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

Post a message top

It's a warning sign.

Replies are disabled on threads older than 7 days.