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[Pretty Little Flower]

Originally posted by sebastian_dangerfield
I have to respectfully disagree. I think the debt/income ratio trumps late payments these days, considerably so. It may not "technically" trump it, but in the current market, where lenders are giving money away, most lenders are more focused on the ratio. I was concerned about this because I got tagged on some credit card where I owed $100 years ago. I forgot to forward it, forgot I had it and didn't know my credit was even blemished until I got a car loan a few years back. The lender looked at my salary and minimal debt load and said "whatever."

But you are absolutely on spot about making late payments on important loans in the recent past. You pay your mortagage or student loans 90-120 days late and you can hurt yourself. the lenders think you're in a cash crunch. But you can fuck over your gas company or the cable people or anyone else you might try to hit your credit with little negative effects. Just stay current on the mortgage, car and student loans.

I think credit scoring is scary. People are beginning to learn that they can game the system and not pay bills like they did in the old days. And the lenders sell off all their risk to other lenders, so there's no immediate relationship between default and pain to the bank. I don't know where it goes, but if people start thinking they don't have to pay shit, we'll have some troubles.

O.K., in all seriousness, dude - you are freaking me out.