I personally knew once I filed bankruptcy it would be a two year journey to be able to buy a home. No quick fix. And now that I am one year away these boards have been a wealth of knowledge I haven't seen in other places... I agree with the others that say you probably shouldnt generalize. good luck to you!
Welcome to the forums! In essecene you are correct everyone wants it stat but aalot dont realize the disproportion until they dig in. This site is truly learning about your inner child the wants vs. the needs. We try not to judge as many people find themselves in these situations not because they were reckless but many other factors. If u hadnt noticed unemployment is a tad high. People get sick. Many things happen. To generalize everyone on these borads is a shame because I think everyone has unique and varying circumstances. My personal advice is dont judge! it's not proper or polite. I hope u enjoy the vast wealth of info we all share with each other.
HappySoda - you used your first post to say that, huh?
Maybe a lot of people ended up BECAUSE they thought they were on their way to buying a house and then discovered how bad their credit was, so of course their focus is going to be how soon can I start house-shopping again? But being here pretty much teaches you that credit repair is a journey and I think most people end up settling down for the long haul. You don't know everyone's story. Geez.
Wow...that was an awesome way to join the forum on your first post.
As many have already stated, many people don't even know that their credit might be trashed. Sometimes TL's get put on your report that aren't even yours. Sometimes a creditor reports something wrong. Sometimes people don't have any bad credit but have lower than expected scores, and they come here and find out that it was thier utilization. Sometimes people just messed up and didn't pay their bills on time. Sometimes people just didn't realize that they had the power to fix some of the things listed here. Sometimes people are in the middle of a mortgage and Mr. Nasty Collection agency had been softing them just waiting for an opportunity to put something on their report so that they will HAVE to pay to get it removed.
I guess my point is that you don't know exactly what happened so judge ye not. At least they come here to try to right the wrong. And it is true that *some* do come here that want a quick fix when they haven't done the right the thing. But this board is certainly not *filled* with people like that. After they read here long enough they will figure out that sometimes there isn't an easy fix, other times they find out that it is an easy fix.
Everyone comes here to learn something and if you hang around here long enough, and leave the judgement elsewhere, you too can pick up many golden nuggets and even a higher score.
Requesting Mod review. I see no significance of this thread continuing. Thank you
Yes I understand both point of views. I always prided myself in having great credit, a high income, and a lot of nice things. I was even a bit of a high rolling snob right up until the economy tanked, my income dropped in half and I could no longer pay all of my bills. Now that I understand what it feels like to be treated like a second class citizen by potential landlords, potential employers, and creditors. I am a much more humble and wiser person.
When I get my credit back and I see those preapproved offers that say "Hurry, apply right now! Accept our card online! High limit! Offer expires soon!" I will think of all the negative experiences I have had recently that they don't tell you about in those offers when you take on more debt than you can manage and I will file those offers in the garbage!
Had to live both sides of it to understand both point of views.
I think the OP seems to just assume that because someone is a new poster, that it means they must have just started trying to fix their credit.
Personally, I was approved for a mortgage back in 2008-09 but I decided to hold off because the real estate market was just way too high and there were already a ton of short sales on the market. It just didn't seem like the right time to buy and Im' sure as hell glad I waited.
I ended up holding off and lost my income the following year for about 6 months which is what screwed my credit. I had to put buying a house on the back burner as my income had changed and my credit was pretty screwed. I am in a bit of a rush to buy now, as I'm back in good shape as far as my income and the type of housing I'm trying to buy has been steadily rising the last 4 to 6 months in my area.
Friendly reminder to all to be friendly, supportive, and respectful, lest post(s) get deleted.
I'll throw out that ....YMMV. Those rebuilding aren't from the same cookie-cutter mold. Everyone is different as pointed out already. Life events happen like death in the family, divorce, job losses, disability, prolonged illnesses, corporate downsizing, etc. You might be 100% faithful in paying on time but many folks are a 30 days away from a 30-day late because of a situation like these.
Moreover, it's largely unavoidable too. Sure you can have savings, but if you loose your job, you better make sure that everything else is paid first like utilities, mortgage, food on the table, etc. before MasterCard gets used and paid. Or maybe you lose a child (God forbid). If the funeral is tomorrow at the same time Discover is due, you might not be too eager to rush a payment in, if you know what I mean. Things happen. Lates happen. And slow repair isn't the right answer. It's better to be aggressive and send letters out now than extend the pain. It's better to yank off a bandaid than it is to slowly peel it off. I'll agree that there should be several months' worth of cushion for rebuilding, but sometimes that's unavoidable. Maybe the debtor wants to do the right thing and downsize their home to make it more affordable after a job loss and needs to get a new mortgage or apply for a new residence ASAP. Slow rebuilding isn't the answer.