Half of SA Has Bad Credit Scores!

[macbillybob]

Originally Posted by TexasRedneck

One other thing to keep in mind.....with all the changes in terms, etc. that the CC companies have shoved down peoples throats over the past 18 mos or so, I've no doubt that they've had a negative "hit" on their available income. It makes me want to scream to see and hear how some of the folks have gotten hammered by jumps in interest rates - and usually, it's just because the CC issuers felt like it!

The majority of all the changes were caused by our "nanny" government and their new rules.

I did think it was interesting where they have to give you a chart of how long it will take to pay you balance if you pay minimum payments. That should enlighten some people. Example: I had a $300 balance and if I paid minimum payment it would take 4 years to pay. Geeeez why would people do this?

[xsa210tx]

Originally Posted by SabresFanInSA

I think part of it has to do with Texas being a "debtor's state". In Texas if you can't pay a debt you walk away with nothing more than a low credit score and some annoying calls. In most other states (I think only Fla is like Texas) if you dont pay they place a lien on your bank accounts until you settle.

I would guess (and it truly is a guess) that SA would rank lower than Dallas or Houston because there is more income in those cities and less bad debt.

BRAVO!!! Your post is exactly right!!!

I was just telling a family friend last week and a few weeks ago I was telling my Dad how Texas is a debtors haven. They didn't know.