sweetooth Posted July 17, 2008 Share Posted July 17, 2008 I'm usually a lurker but I wanted your thoughts on this. Have you? Would you? Your thoughts and stories please. Thanks! Link to comment
riley123 Posted July 17, 2008 Share Posted July 17, 2008 Well, I would assume you would find out this information when the relationship becomes serious and not on the first date when it would be easy to walk away. So, yes, I would date someone with bad credit if the relationship was good otherwise. Link to comment
redtan Posted July 17, 2008 Share Posted July 17, 2008 If I was getting married to someone with bad credit I would think twice, and try and fix it. But when just dating...who cares? And how would you ever find out what their credit is when just dating them? Is that a question you ask right as you first meet someone? What would be the problem with dating someone with bad credit? Is that make them any less of a person? Link to comment
Scorpion Fury Posted July 17, 2008 Share Posted July 17, 2008 Well, I ruined my credit just being young and dumb. That doesn't make me a bad person. I'm repairing it now. It's really up to you. If they just don't care about it and let it keep getting worse, I probably wouldn't just because that shows a lot about their character. It shows they're irresponsible. But if he just messed it up being young and dumb and was taking steps to fix it, yeah I'd date him. Although, I don't think I'd marry someone with a bunch of debt. Link to comment
poloplayer Posted July 17, 2008 Share Posted July 17, 2008 No. I learned a similar lesson when I dated someone long term back in college who had a different view on money. I am a saver and an invester. She was a big spender. In time we broke up over that. Finances is something which I make sure to be always on top of, to the point of being quite anal about it. I can't be with someone who is so carefree with finances. Link to comment
Lana0120 Posted July 17, 2008 Share Posted July 17, 2008 1) Depends on the reasons. 2) Depends on whether there were any other potential 'red flags'. If the person had bad credit and bad breath say... ;-) Link to comment
sweetooth Posted July 17, 2008 Author Share Posted July 17, 2008 Let me clarify that I do not think it makes you any less of a person. The guy I'm dating is awesome. I'm still learning a lot financially so I thought I'd get some insight on this, I'm only 21 years old and I guess I don't want to be naive? He was the one who brought it up (he seems to be an open and honest guy). I was not prying and would have not felt I had a place to ask him anyway! It would not have crossed my mind to ask. Thank you for your thoughts! And what are the steps to reparing bad credit? Sorry, if I seem ignorant! I'm still learning a lot about handling money myself... Link to comment
StrawberryYogurt Posted July 17, 2008 Share Posted July 17, 2008 What would be the problem with dating someone with bad credit? Is that make them any less of a person? Usually it means they're not financially responsible. I'm very financially responsible so as you can see, incompatability would arise if I dated someone so irresponsible. Being on the same page financially (I don't mean income, but saving and investment habits) is very important in a relationship. Link to comment
BetterKarma Posted July 17, 2008 Share Posted July 17, 2008 We have all done stupid things when we were younger and never thought of the consequences. If the guy has really bad credit but is working on fixing it, I wouldn't mind. But if the guy has bad credit and is proud of it or laughs about it, then I know it's not really going to work for me. Shows a lack of responsibility that I'm not too fond of. Link to comment
Lionel Hutz Posted July 17, 2008 Share Posted July 17, 2008 I always run full credit checks when I meet everyone; even friends. I have this little scanner where I take in certain info, i.e. social security number, bank account info, and reference checks. They also have to pass a drug screening. JAY KAY!! It does not bother me much, and it really depends on why. If you broke your leg lets say, had no insurance, and were in debt because of the surgey, thats understandable. Or if you took out student loans, thats forgivable too. But if you were like a friend I once had who opened every credit card he could, lying about his finances and spending over 20k on cocaine and booze, i'd have to dismiss you. No one should care if you are just dating though. Link to comment
george237 Posted July 17, 2008 Share Posted July 17, 2008 Usually it means they're not financially responsible. I'm very financially responsible so as you can see, incompatability would arise if I dated someone so irresponsible. Being on the same page financially (I don't mean income, but saving and investment habits) is very important in a relationship. I agree. Plus if you buy property together and the other person declares bankruptsy your in the deep stuff Link to comment
ycmanvs Posted July 17, 2008 Share Posted July 17, 2008 It depends on the reasons for the bad credit and what are they doing to fix the situation. If I had a choice, I would not date someone with bad credit. However, if someone I was dating was having some difficulty with their credit, I would probably try to help them out. Link to comment
Snoopy24 Posted July 17, 2008 Share Posted July 17, 2008 I have awful credit. Made mistakes when I was younger. I would hope someone would date me regardless of my bad credit. i mean..yea down the line if we were to get married it might ruin their credit too. hmm I'm actually not too sure how that works. But you gotta take the good with the bad! Link to comment
metrogirl Posted July 17, 2008 Share Posted July 17, 2008 I always run full credit checks when I meet everyone; even friends. I have this little scanner where I take in certain info, i.e. social security number, bank account info, and reference checks. They also have to pass a drug screening. JAY KAY!!QUOTE] That's how Lionel determined he wasn't going to lend me 5.00 dollars.......HAHA Link to comment
Snoopy24 Posted July 17, 2008 Share Posted July 17, 2008 I always run full credit checks when I meet everyone; even friends. I have this little scanner where I take in certain info, i.e. social security number, bank account info, and reference checks. They also have to pass a drug screening. JAY KAY!! It does not bother me much, and it really depends on why. If you broke your leg lets say, had no insurance, and were in debt because of the surgey, thats understandable. Or if you took out student loans, thats forgivable too. But if you were like a friend I once had who opened every credit card he could, lying about his finances and spending over 20k on cocaine and booze, i'd have to dismiss you. No one should care if you are just dating though. That's kind of creepy... If I knew a "friend" ran a credit check on me, for whatever reason, they wouldn't be my friend anymore. Link to comment
shes2smart Posted July 17, 2008 Share Posted July 17, 2008 You have to look at the reasons for the bad credit -- is it a larger pattern of irresponsibility or did the person just have some bad luck -- getting laid off through no fault of their own or getting sick or injured and having huge medical bills? As for getting involved with them...well...things involving loans (car and home purchases) are just more expensive if you and/or your spouse/SO have bad credit. Part of my current job is inputting sales data into my company's database, so I see what people pay for their auto loans on a daily basis. If you need to finance a car purchase, would you rather pay 5 or 6% for your loan or 22%+? How about your mortgage? That can have a HUGE impact on the rest of one's finances and one's life. Sometimes, when I'm inputting sales data, I sometimes see things that make me want to call these people and say, "What the heck are you thinking? You're screwing yourself over not buying a cheaper car!" But, hey, it's their life and they can screw it up as they see fit, y'know? Link to comment
Lionel Hutz Posted July 17, 2008 Share Posted July 17, 2008 That's kind of creepy... If I knew a "friend" ran a credit check on me, for whatever reason, they wouldn't be my friend anymore. WOW! I was sooooooo kidding that sucks tough. But thats obviously someone is not a healthy comrade. "All business never personal" those are the types that will sell you right out. Link to comment
Lionel Hutz Posted July 17, 2008 Share Posted July 17, 2008 I always run full credit checks when I meet everyone; even friends. I have this little scanner where I take in certain info, i.e. social security number, bank account info, and reference checks. They also have to pass a drug screening. JAY KAY!!QUOTE] That's how Lionel determined he wasn't going to lend me 5.00 dollars.......HAHA Not even for a day pass! HAHAHA Link to comment
Snoopy24 Posted July 17, 2008 Share Posted July 17, 2008 WOW! I was sooooooo kidding that sucks tough. But thats obviously someone is not a healthy comrade. "All business never personal" those are the types that will sell you right out. ohhhh haha ...I guess I missed the JAY KAY part and the second paragraph! I read the first two lines and was like "woah * * * " haha sorry! Link to comment
Mlost Posted July 17, 2008 Share Posted July 17, 2008 And what are the steps to reparing bad credit? Sorry, if I seem ignorant! I'm still learning a lot about handling money myself... Here is what determines your FICO score. Get these in line and your score will improve. 35% — punctuality of payment in the past (only includes payments later than 30 days past due) 30% — the amount of debt, expressed as the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits) 15% — length of credit history 10% — types of credit used (installment, revolving, consumer finance) 10% — recent search for credit and/or amount of credit obtained recently Link to comment
MD Geist Posted July 17, 2008 Share Posted July 17, 2008 Iam gonna be rich anyways so why not!. lol!. Link to comment
metrogirl Posted July 17, 2008 Share Posted July 17, 2008 Here is what determines your FICO score. Get these in line and your score will improve. 35% — punctuality of payment in the past (only includes payments later than 30 days past due) 30% — the amount of debt, expressed as the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits) 15% — length of credit history 10% — types of credit used (installment, revolving, consumer finance) 10% — recent search for credit and/or amount of credit obtained recently Good info here Mlost.........thanks. It helps to know what areas of my FICO are affected and why. Link to comment
redtan Posted July 17, 2008 Share Posted July 17, 2008 35% — punctuality of payment in the past (only includes payments later than 30 days past due) What do you mean by this? What % of payments you made on time? Also, how is a payment made on time buy only the minimum/not the entire thing affect the score? Link to comment
Mlost Posted July 17, 2008 Share Posted July 17, 2008 What do you mean by this? What % of payments you made on time? Also, how is a payment made on time buy only the minimum/not the entire thing affect the score? It means that 35% of your credit score is determined by how many late payments you have. I don't know how many late payments you need to have before it affects you, but late payments affect 35% of your score. Does this make sense? Link to comment
Mlost Posted July 17, 2008 Share Posted July 17, 2008 What do you mean by this? What % of payments you made on time? Also, how is a payment made on time buy only the minimum/not the entire thing affect the score? An on-time payment for the minimum would have no negative impact on your score. It would improve your score slowly in 2 ways: 1.) reducing your overall debt/credit ratio, and 2.) paying on time. Link to comment
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