Who Has No Credit history

Who Has No Credit history

Who Has No Credit history

If you have been looking on the Internet for a better insurance quote, you may have stumbling upon something that you find enticing. After all, who doesn’t love the idea of saving money? There are millions of people who are desperately needing cash to pay off debts or cover basic living expenses. At the same time, there are insurance companies that aggressively market their insurance products by offering the lowest possible interest rates. Suddenly, some of the costs seemed a bit more manageable. 개인회생 자격

But then, before they knew it, American consumers were once again entangled in the web of debt collection practices and sinking financial stocks. All of a sudden, home foreclosures became the norm rather than the exception. Many insurance companies were hit with large shortfalls in their premiums, leaving them with little to pay claim winners.

As a direct result, a fire began burning not just in the public psyche but also in the marketplace: traditional lenders found themselves unable to recover a fraction of the premiums they had paid for all of the years that Active skip payment was an allowable strategy. In many cases, homeowners were simply unable to make the monthly mortgage payments. This was especially true because money had become so scarce in major part due to the recession.

Surely, even for those consumers who had good credit, the only guaranteed return was the probability of default. But, unfortunately, many lenders would encourage these borrowers to stretch out their payments even farther so as to increase their financial burdens-the exact opposite of the way to increase the likelihood of receiving a return on a dollar spent!

But what about those consumers who were saddled with a bad credit rating? It turns out that the most debilitating critics of Active Sock Sales were not the financial institutions that were being taken advantage of but rather, it was the very people who could best use those products. Companies and employers can easily obtain credit reports from major credit agencies. But, what about the individual customer who has no access to credit? Who has to risk their credit history being reviewed solely for the purpose of insurance? Who Has No Credit history

It should have been easy to do, but then again, insurance was and still is a highly-regulated industry. So, who followed the rules? As a result, disaster strikes when anyone can easily “pre-file” insurance policies that they will then utilize to avoid paying for what they have already lost. They stand to gain nothing, and the companies and employers who follow the rules are then found in breach of the terms of their contract.

This common disaster was re- abruptly termed “Ponzi scheme” after Bernard Madoff, the former head of a large collection agency, took the financial world, by surprise, by duping investors out of a neat $12.4 billion. He did it on the pretext of paying off dues owed by high net worth investors who had invested in his fund. Does this sound like the savings and loan crisis we are in now? Who Has No Credit history

Well, it should. At this point, the Ponzi scheme stands exposed and the “consumer” (you) evicted from the scene. The only recourse remaining, for the consumer, is to continue following such a meager andmotivated strategy. As a matter of fact, renting your home out will do the same.

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