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Well banks have insurance and the Fed to handle that sort of problem - pretty good deal if you can borrow freely at rates barely above zero. Burger flippers don't have the ability to insure and to hedge against those risks.
Student loan programs now have "reasonable and affordable" repayment programs which work with borrowers with income issues. I made the mistake of defaulting before those programs existed. You gonna say that a borrower in income based repayment (IBR) with $15K income and a monthly payment of zero is responsible and I with $12K income and a monthly payment of $120 am irresponsible?
If you had student loans then you must have an education. What did you study (I'm quite sure it wasn't Burger-flipping 101) and why aren't you utilizing the education that you borrowed money for?
If you had student loans then you must have an education. What did you study (I'm quite sure it wasn't Burger-flipping 101) and why aren't you utilizing the education that you borrowed money for?
I got a liberal arts education to prepare for law school, but law school had become financially out of reach so my education was basically useless. The shelf life is five years, unless you have career-related experience. Since I did not have career-related experience, after five years I abruptly became as unwelcome to employers as a hot potato.
Many times I have considered dropping all mention of college from my resume, but then I would have glaring gaps with no satisfactory explanation. Basically I don't see anything I can do now to get a good job.
You have $10K in inventory, but can't/won't spend $150 to actually get it moved? That doesn't really add up.
Also, maybe I'm reading things wrong, but I feel like people have given you all sorts of different advice in various threads for increasing income, but you seem resigned to making burger flipping wages for the rest of your life. I don't understand why that's the best you hold for yourself.
The same goes for credit. The assumption is that people should pay their bills on time. Anything less, and they deserve punishment. Sure, there are exceptions, as many have posted, but the baseline of paying one's bills as agreed to is not a cause for celebration.
Credit scores recognize no exceptions. A person who lost their income and can't get it back can have plunging credit and the same score as someone who regained their income after a financial and credit collapse. Credit scores can't tell the difference between the two and can't tell the difference between a victim of identity theft, a responsible individual going through a catastrophic financial event, and a true deadbeat.
You have $10K in inventory, but can't/won't spend $150 to actually get it moved? That doesn't really add up.
Also, maybe I'm reading things wrong, but I feel like people have given you all sorts of different advice in various threads for increasing income, but you seem resigned to making burger flipping wages for the rest of your life. I don't understand why that's the best you hold for yourself.
I'm not liquid, I'm living on a poverty level income, I pay $120/mo on student loans (and a collector wants even more). I don't have $150 and can't borrow it conventionally and am not interested in a payday loan.
I got a liberal arts education to prepare for law school, but law school had become financially out of reach so my education was basically useless. The shelf life is five years, unless you have career-related experience. Since I did not have career-related experience, after five years I abruptly became as unwelcome to employers as a hot potato.
Many times I have considered dropping all mention of college from my resume, but then I would have glaring gaps with no satisfactory explanation. Basically I don't see anything I can do now to get a good job.
Oh the liberal arts education. I am not being nasty and maybe I misunderstand I always cringed when I heard someone say they are taking liberal arts classes. It would be perfect education if you were already rich.
Anyway, so you are pretty much saying you are the working poor?
Anyway, what you have here is exactly what Obama wants, Americans against Americans.
We have the welfare class who just takes but gives nothing in return. Then we have the working poor who are trying to do the right thing, want a good life but got into a bit of a trap and have given up. Then you have the small business owners who took a huge risk, making a go of it, never taking anything for granted are afraid that demand can drop off, payroll, debt, bills and hope to grow their business but there is this Obama instigated class warfare and hatred toward them allowing Obama to use the population to increase taxes on them (increasing business expenses) so he can spend more money on green energy.
And divided we fall. I never saw a president instigated class warfare before. Nice isn't it.
Credit scores recognize no exceptions. A person who lost their income and can't get it back can have plunging credit and the same score as someone who regained their income after a financial and credit collapse. Credit scores can't tell the difference between the two and can't tell the difference between a victim of identity theft, a responsible individual going through a catastrophic financial event, and a true deadbeat.
So freemkt you did not answer my question.
Are you currently trying to sell your $10K inventory?
Can't you get away with just a camera?
If you were selling today do you have the determination to apply all profit and in you're case since you already own you're inventory all sales revenue minus selling expenses to you're debt?
I would ask how much you're school loan is but it may be too personal.
The problem is you are giving up and became angry instead of asking "how can I do it".
Personally Im screwed as I was married to my wife for 24 years everything was in joint names, she ran off, ran up hugh debts on her credit cards which are in my name.
Now I can get no credit at all. Nobody wants to listen to the reason why, they are only interested in my defaults.
Income, length of employment, and assets should be majority factors in credit scoring
I make a seven-figure salary and have liquid savings in the seven-figures; however, my credit is in the poor range. I did not find this out until I applied for additional life insurance coverage and my rate was significantly higher than the initial quote. How can I possibly be a higher credit risk for a mortgage, auto lease, or even revolving line of credit than an individual with a credit score in the excellent range, but a small salary and little savings? The credit scoring system is flawed, in that income level, length of employment, and liquid assets should be majority factors in determining credit scores since even if the bills went unpaid there would be a significantly higher chance that the money would be paid even if was through a lawsuit and garnishment as opposed to if an individual with a high credit score and little income/assets were to default the creditor would have a lower chance of repayment.
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Income, length of employment, and assets should be majority factors in credit scoring
