Credit Cards, financial things, etc.

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Originally Posted by burgundy

Yes, it does. Have fun worrying about heroin.

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My heroin dealer takes credit cards.

Another resource you guys should use is www.annualcreditreport.com.

It allows you to obtain a free credit report from the three major credit reporting agencies. You can use it to examine your credit history and check to see if there are any inaccuracies that could affect your credit score.

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Originally Posted by Josh

Does bankruptcy really ruin your life, or just your CREDIT RATING?

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I was under the impression that filing for bankruptcy takes a lot of time and causes a lot of stress. So yes for a short term you may feel your life has been ruined. Along with all the other shit that comes with it (But that's solely credit rating stuff)

This is the real cause of the problem.

Question,

Is it a bad idea to get say a car loan from the bank for about 5k to purchase a used car? If so, in how many ways is it bad. I didn't figure a small loan like that to be bad. And the car I want is 4k.

I wouldn't think it'd be bad as long as you can pay it off. Especially if you have the 5k already or close to I would imagine it would only benefit you as it'd help towards your credit rating.

I have 4 credit cards right now. I don't really recommend having that many at my age, but I've had them for 2 years so far and I've never had a late payment. I'm certainly not stupid with my cards, but starting this semester has been more expensive than usual and I'm a little uncomfortable with what I have charged right now, but it's nothing a months paycheck can't clear. I definitely want to close one of my cards though.

I'm still learning a lot about this stuff myself, my mom works at a bank and keeps stressing how important good credit is, so she's the one who tells me about all this.

I don't think you'll have many problems Nomi, you seem smart and responsible enough, (not like the type who would go on some huge shopping spree and by a bunch of shit you can't pay for.)

Don't close your card, just stop using it. They look at average legth. Leaving it open will help your score, even if you don't use it.

It's like level grinding for your wallet!

Oh cool I didn't know that, thanks Stormy.