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Originally Posted by pgardn
Aha!
So they see you can make your payments so they try to take on your other debt (which you dont have) to make money off of that. Sounds a bit desperate. Getting into areas they dont belong.
Aside: This is why I like this board. We got a bunch of smart people that share info and I learn more than just horses.
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i'm thinking about checking into that 'lifelock' program...one of the things it does is keep you from getting constand credit card offers. it might be worth the $10 a month just to keep from getting those.
every day.
i wonder tho if the second mortgage business is one of the things that is fueling the current problems. they preach consolidation, lower your payments,etc. BUT people who have no financial restraint might do what my in laws have done--more than once. pay off credit cards and loans....put it all in one payment...then they have extra money. get more credit cards, run them up. right back to square one. only this time, they have mortgage, second mortgage, and more credit card debt. then they run into problems making payments, fall behind, and lose their home because all of their debt was included in a payment they can no longer make.
my son said he was getting a card for 'emergencies'. i told him he better not, that he'd be surprised how many things suddenly seem like an emergency!