Credit report question
d@weezel music
Joined: Jun 2002
Posts: 5,929
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Originally Posted by RB
Well, any line of credit attached to a mortgage should feasibly be secured, right?
And yeah, good point on the interest rate difference, I didn't even think of that. But it does make sense from a creditor standpoint why a student loan isn't seen equally as credit card debt. A student loan is for education, meaning the person is atleast someone intelligent enough to maintain a decent credit score. Only in theory, of course.
And yeah, good point on the interest rate difference, I didn't even think of that. But it does make sense from a creditor standpoint why a student loan isn't seen equally as credit card debt. A student loan is for education, meaning the person is atleast someone intelligent enough to maintain a decent credit score. Only in theory, of course.
DAMIMRED
Joined: May 2002
Posts: 13,495
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From: Syracuse, NY
Originally Posted by RB
Well, any line of credit attached to a mortgage should feasibly be secured, right?
And yeah, good point on the interest rate difference, I didn't even think of that. But it does make sense from a creditor standpoint why a student loan isn't seen equally as credit card debt. A student loan is for education, meaning the person is atleast someone intelligent enough to maintain a decent credit score. Only in theory, of course.
And yeah, good point on the interest rate difference, I didn't even think of that. But it does make sense from a creditor standpoint why a student loan isn't seen equally as credit card debt. A student loan is for education, meaning the person is atleast someone intelligent enough to maintain a decent credit score. Only in theory, of course.
oh, it will be secured for sure.
and you're right in part about why student loans arent the same as other unsecured debt in a creditors eyes. other part like dweezel says, you pay it down and unless you're back in school it wont go back up. also, most people arent going to default on money owed to the gov't
d@weezel music
Joined: Jun 2002
Posts: 5,929
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Originally Posted by ISP James
oh, it will be secured for sure.
and you're right in part about why student loans arent the same as other unsecured debt in a creditors eyes. other part like dweezel says, you pay it down and unless you're back in school it wont go back up. also, most people arent going to default on money owed to the gov't
and you're right in part about why student loans arent the same as other unsecured debt in a creditors eyes. other part like dweezel says, you pay it down and unless you're back in school it wont go back up. also, most people arent going to default on money owed to the gov't
DAMIMRED
Joined: May 2002
Posts: 13,495
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From: Syracuse, NY
Originally Posted by Dweezel
Oh yeah, the government will come after you if you default on a federal loan. They can go as far as garnishing your wages. They are like the legal mafia
garnish your wages, take away your tax returns or just plain throw you in jail
Thread Starter
BAZINGA!
Joined: Aug 2004
Posts: 21,613
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From: San Diego, CA
Originally Posted by CRAIGHIMSELF
Why dont you add $10.00 more and buy me lunch on Friday?