How do you approach someone about fixing their credit?

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:
"get into a co-workers face" seems a bit harsh here. All anyone is suggesting here is opening the door, not shoving the guy through it.

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By broaching the subject with someone you could be insulting them, hurting their feelings, etc

Even if they bite, and get into a whole credit improvement thing with you, they might later on resent it.

Also having credit problems or other financial trouble is often depressing and humiliating, people commit suicide over it. Just because someone has once confided that he has bad credit doesn't mean he wants to keep talking about it.

It's much more important for OP to preserve his relationship with a coworker he lunches with.

There's also the very common result of such credit conversations between people like us and other folks... boring someone to tears.  Not everyone is interested in this stuff, as we are.

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Or, the complete converse of what you just outlined could happen.  The person completely cleans up their act along with their credit profile and they are in turn extremely grateful for their now fantastic scores and of course your help that got them there.

I think the proposed script that CGID mentioned above is perfectly acceptable and there's nothing "wrong" with taking that approach with the situation.

[Anonymous]

Very interesting to read the various responses on this thread. I actually have two completely different experiences completely opposite of each other. One time i spoke to credit about a coworker when it came up and he just kind of listened to some suggestions and then just had no interest in continuing the conversation on it.

Now another time i spoke to a worker who was more open about it. He actually engaged with the conversation took some suggestions and came back in a couple of weeks thanking me so much that he saw significant change in his scores etc. We talk about various credit stuff very often now its actually pretty cool to be able to speak to someone about all of it in person thats genuinely wants to talk about the subject.

I understand the concern with it being coworkers and finances it gets may get a little touchy. I feel like im the type of person that will give a person good advice even if they dont want to hear it. They can get upset for the moment if they want but 9 times out of 10 later down the line they will come back and thank me for it.

I feel like depending on how close you are to the coworker you can casually up credit and see if hes even interested in hearing you out and go from there.

[Anonymous]

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@DeeBee78 wrote:

So yesterday, I invited my friend/coworker out to lunch (Chipotle). After ordering, I realized I didn't have my wallet! 

"Not to worry,"  I thought to myself. I have Apple Pay! Well, apparently Chipotle is stuck in the past, so they don't take Apple Pay. 

My coworker said he would pay, and proceede to pull out an orange First Premier credit card. I didn't say anything to him, but I know how predatory and fee-intensive they can be. I know he has bad credit, because he's told me. I know what he can do to fix it, and want to help him. How do you approach this kind of situation for someone? 

Side note: One of my friends posted on Facebook today a picture of his chopped up First Premier card. I was very happy to see it. 

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I believe credit is a personal endeavor. I remember watching others with good credit (enjoying financial freedom) and I didn't give a crap. Once someone decides it's time then they will do something about it. Once they decide, they will be the one to initiate a conversation or do some research on how to fix it.

[Subexistence]

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@wa3more wrote:

most times you can't . Its embedded in their DNA.

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http://ficoforums.myfico.com/t5/General-Credit-Topics/Genetics-and-your-financial-responsibility/td-...
 

[Anonymous]

I tell people about these forums, a wealth of info here!

[joltdude]

Sorry SJ.. not gonna quite agree with you on this one... If you offer the olive branch in a private, nonjudgemental setting... esp since they seem to have acknowledged it to the OP before.... they can either take it or leave it .. Just butting out is denying them an oppurtunity you can offer.. if your careful and respect their privacy and dont have an audience... they might actually take you up on it... Its similar to confronting folks with other addictions or vices... 

Voice of experience.. Iv actually helped a few family members..some were just.. not knowledgable about building credit and others were below FP territory and kept trying and getting rejected... Actually helped to do some rebuilding and baddie fixing with that one...

If you decide to do it, you privately make the offer, and leave it at that... if they dont take it.. just dont bring it up again... let them make the move... but just opening the door should not be a problem as long as its not in front of an audience.. 

Theres also the "been there done that" and ability to relate..... Admitting you have or had a problem, could lead to others asking about it ... thats how recovery for a lot of vices works.. 

-J

[Anonymous]

Good to see this old thread revived again, as I enjoyed the discussion the first time around.

I still maintain that opening the door for discussion is perfectly acceptable.  Think back to the time when YOU personally were in your worst place credit wise.  Chances are you're level of knowledge wasn't anywhere near the level it is at now.  No doubt you sought out sources to improve your position.  Many found this forum that way and have received the same advice that someone could have given verbally over a message forum.  If someone recognizes that their credit isn't very good and that being in that position isn't favorable, most are going to want to improve upon that rather than stay in an unfavorable place. 

A little over a year ago when I started getting into these forums big to improve my credit, a friend of mine was going through a similar credit slump.  We were gym buddies so we were constantly shooting the crap about random stuff while working out and I told him how I was working hard to improve my credit.  He was immediately interested, as he was in a similar place.  Unlike me though, he'd never visit a credit forum or spend more than 5 minutes in front of his computer.  He was very open to hearing about the things I learned and welcomed advice constantly. 

It's all about reading the person you are considering offering help to.  If they clearly want it and invite it, why not pass on your knowledge?  If they aren't comfortable with it and seem closed off to the idea, move on with life.  I don't really see where the controversy is in that.

[SouthJamaica]

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@joltdude wrote:

Sorry SJ.. not gonna quite agree with you on this one... If you offer the olive branch in a private, nonjudgemental setting... esp since they seem to have acknowledged it to the OP before.... they can either take it or leave it .. Just butting out is denying them an oppurtunity you can offer.. if your careful and respect their privacy and dont have an audience... they might actually take you up on it... Its similar to confronting folks with other addictions or vices... 

Voice of experience.. Iv actually helped a few family members..some were just.. not knowledgable about building credit and others were below FP territory and kept trying and getting rejected... Actually helped to do some rebuilding and baddie fixing with that one...

If you decide to do it, you privately make the offer, and leave it at that... if they dont take it.. just dont bring it up again... let them make the move... but just opening the door should not be a problem as long as its not in front of an audience.. 

Theres also the "been there done that" and ability to relate..... Admitting you have or had a problem, could lead to others asking about it ... thats how recovery for a lot of vices works.. 

-J

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It's pretty condescending to suggest that credit problems are a "vice" which is tantamount to "addiction"

Some credit problems are the result of such 'vices' as loss of a job, medical problems for onesself or a loved one, disability, natural disasters, car accidents, etc.

Your giving your unsolicited advice to your family members is your business.

But coworkers are not your relatives.

[Subexistence]

For me, I know how to advise my friends aged 18-19 about starting credit, I have no experience with credit rebuild.

Usually people get upset about bad credit stuff then try to rebuild by joining this forum.

Does this count as rebuild?

http://ficoforums.myfico.com/t5/General-Credit-Topics/Secumd-scammed-me-into-making-new-accounts-whi...

Most people seem not interested at least at my age. Although my best friend enjoys churning, arbitrage, etc because it is fun. He also enjoys non-harmful hacking so it seems like a mischievious personality type thing. Finance seems like an adult thing to most people my age. Oh yeah I give him my knowledge learned here.

I don't know if rebuilders feel the same way as 18-19 year olds, but chances of getting one interested is slim to none unless he/she really likes gaming algorithms, cutting corners, churning, manipulating, etc.

[joltdude]

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@SouthJamaica wrote:

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@joltdude wrote:

Sorry SJ.. not gonna quite agree with you on this one... If you offer the olive branch in a private, nonjudgemental setting... esp since they seem to have acknowledged it to the OP before.... they can either take it or leave it .. Just butting out is denying them an oppurtunity you can offer.. if your careful and respect their privacy and dont have an audience... they might actually take you up on it... Its similar to confronting folks with other addictions or vices... 

Voice of experience.. Iv actually helped a few family members..some were just.. not knowledgable about building credit and others were below FP territory and kept trying and getting rejected... Actually helped to do some rebuilding and baddie fixing with that one...

If you decide to do it, you privately make the offer, and leave it at that... if they dont take it.. just dont bring it up again... let them make the move... but just opening the door should not be a problem as long as its not in front of an audience.. 

Theres also the "been there done that" and ability to relate..... Admitting you have or had a problem, could lead to others asking about it ... thats how recovery for a lot of vices works.. 

-J

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It's pretty condescending to suggest that credit problems are a "vice" which is tantamount to "addiction"

Some credit problems are the result of such 'vices' as loss of a job, medical problems for onesself or a loved one, disability, natural disasters, car accidents, etc.

Your giving your unsolicited advice to your family members is your business.

But coworkers are not your relatives.

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SJ

Again. misinterpreting me ... I was trying to show the similarity in handling credit problems as to handling addiction and how to approach it.. 

Did not once say that credit problems are a vice....or imply that credit problems are an addiction... Sometimes stuff happens that puts you in a bad situation.. medical bills, etc...  geesh

Perhaps i should of been more blunt....

You have already made your mind up on your opinion, now let me have mine without attempting to make it sound like im being condescending...

Youll do what youll do.. Ill do what ill do...... 

If someone brings it up.. Yeah I have a problem/ some problems... HELL YES its solicited... they are ASKING FOR HELP.. now whether they want to accept it is another issue entirely.. instead of just ignoring it since its not your problem...

This is an example of what happens when its "not my problem/none of my buisness"

https://nypost.com/2010/04/24/stabbed-hero-dies-as-more-than-20-people-stroll-past-him/

Thanks for your insight... 

-J