Bears just filed for BK

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TheLethargicAge
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Bears just filed for BK

Postby TheLethargicAge » Tue Dec 08, 2015 10:48 am

http://ficoforums.myfico.com/t5/Bankrup ... -p/4350998

Dude had like 2 CCs with low limits and now bankrupt?! WTF? He even states all he had was CC debt. You can't make this stuff up.
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kdm31091
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Re: Bears just filed for BK

Postby kdm31091 » Tue Dec 08, 2015 11:35 am

It's sad and honestly another problem with myfico. They encouraged people to obtain credit and/or keep using cards without looking at the bigger picture. Some people simply cannot handle credit in any amount. While it's considered blasphemous to suggest one abandon credit and use debit, at least for awhile, it's worth it to give up 1-2% in rewards if the person is going to drive themselves into a huge debt hole or BK by using CCs. It's not for everyone. Rewards only make sense if you PIF (absent emergencies/planned large expense at 0%, etc), and so by that nature, it's not for everyone the way myfico acts like it is.

So yeah, as you can see, people can get into trouble even with a couple tiny limit cards. That's why I don't get why people who were previously financially unstable/in BK are sitting on myfico having 250k in available credit. It simply cannot be a good thing. Too much temptation (for anyone, let alone someone with a past history of irresponsibility).

Nixon
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Re: Bears just filed for BK

Postby Nixon » Tue Dec 08, 2015 9:13 pm

TheLethargicAge wrote:http://ficoforums.myfico.com/t5/Bankruptcy/I-have-filed-BK7/m-p/4350998

Dude had like 2 CCs with low limits and now bankrupt?! WTF? He even states all he had was CC debt. You can't make this stuff up.


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JonE
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Re: Bears just filed for BK

Postby JonE » Sun Dec 13, 2015 8:24 am

Probably the least surprised I've ever been at anything online.
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Nixon
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Re: Bears just filed for BK

Postby Nixon » Sun Dec 13, 2015 8:32 am

How much credit card debt could he really have racked up with his two or three low limit cards.
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Tubpbs
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Re: Bears just filed for BK

Postby Tubpbs » Sun Dec 13, 2015 9:12 am

Nixon wrote:How much credit card debt could he really have racked up with his two or three low limit cards.


I'd wager he didn't filed anything... Someone specifically asked him/her about his story not adding up and the OP did not respond...
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Nixon
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Re: Bears just filed for BK

Postby Nixon » Sun Dec 13, 2015 9:15 am

Tubpbs wrote:
Nixon wrote:How much credit card debt could he really have racked up with his two or three low limit cards.


I'd wager he didn't filed anything... Someone specifically asked him/her about his story not adding up and the OP did not respond...

So as usual, he's full of shit.
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Tubpbs
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Re: Bears just filed for BK

Postby Tubpbs » Sun Dec 13, 2015 10:26 am

I mean...I have no idea who that person is or what type of consistency that person maintains in their posts, but, generally speaking, my experience has been that if something doesn't make sense or if something seems like a lie (or both), it probably isn't true.

OR that person is so stupid that they filed for BK just to be able to talk about having done it on that forum, which doesn't seem impossible based off of the nonsense I hear about...
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kdm31091
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Re: Bears just filed for BK

Postby kdm31091 » Sun Dec 13, 2015 6:56 pm

I think about 85% of what we see on myfico is made up. The stories, the cards people have, the limits...the fact that they "PIF" but constantly wonder about BTs..

Nixon
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Re: Bears just filed for BK

Postby Nixon » Sun Dec 13, 2015 7:39 pm

kdm31091 wrote:I think about 85% of what we see on myfico is made up. The stories, the cards people have, the limits...the fact that they "PIF" but constantly wonder about BTs..

Embellishing to impress people on the Internet, lol.

You know....the bigger the lie, the more they believe.
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