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Posts posted by scorch

  1. Although the guy said you don't need to worry about whats on the report at this time, I would. Repairing your credit can take time.

    If he is saying that you have to go into debt to get a mortgage loan so to speak then you should find a different guy, because that is not true. You'd be better off just getting a couple of credit cards and only use them to pay bills or for groceries.

  2. If he doesn't have any credit established then he at least needs a credit card. A secured card is a good starter, but you guys might want to make your own decision as to which one to get.

    The only REAL credit score can be obtained from They include credit reports as well.

    purchase new furniture or appliances?? I completely disagree with that suggestion. You might want to consider contacting a different lender as well.

    If TLs (tradelines) are being reported incorrectly then you would need to write letters to each of the CRAs explaining the situation.

    Here are their addresses:


    PO BOX 9701

    ALLEN TX 75013-9701


    PO BOX 2000

    CHESTER PA 19022-2000


    PO BOX 105314

    ATLANTA GA 30348-5314

    And in case you need it:


    PO BOX 1640

    PITTSBURGH PA 15230-1640

  3. I just finished listening to Peter Lynch's One Up On Wall Street. A lot of the principles were very similar to Cramer's only explained differently and with less fanaticism. Still pretty good stuff though.

    I was also told about The Alchemy of Finance by George Soros, Rule # 1 by Phil Town and Technical Analysis A to Z by Steven B. Achelis which is actually available for free if you do a quick google search. All were recommended to me on a stock market forum that I go to sometimes. I'll probably check those out as well.

    Other resources welcome.

    Edit, just got a hold of Adventure Capitalist - Added to queue. I also came across a movie called Meltup while doing a search for Jim Rogers. It's available for free on youtube. It was a pretty interesting documentary that just came out about rising inflation and the national debt.

  4. i went to court and lost a lawsuit, (that is a judgement right? or am i tripping)

    lol you might want to check your credit reports if your unsure.

    I recently moved out of an apartment who tried to take me to court because they had horrible bookkeeping skills and didn't realize that I had already paid off the rent and turned in the keys even though they were right there when I did it. So they called a lawyer on me and tried to bill me $800 for the rent and legal fees lol! A judgment showed up on my Lexis/Nexis file within two months. :roll:

  5. Well Cramer said in his Audio book, Getting Back to Even, that the stock market crashed at the end of '08 and recommended that everyone take 5 years worth of money out of the market because it was too dangerous.

    A lot of Cramer's stuff sounds like sound advice and he recommends a lot of stocks in his new book such as conoco philips, Bhp, home depot, regional banks or chase and visa because the market is expected to recover. He does also recommend always checking the company's financial statements because the book could be outdated and that there's no reason to own a stock if you don't think it's going up. Another pick he recommended for example was Verizon (VZ) because of it's high dividend yield and it's a cyclical stock that should do good when the market recovers right? Although Cramer's philosophy seems very good and sound, I think most of it just confuses the hell out of me maybe because he's not explaining it good enough for people that don't know what they're doing like me.

    I dabbled with stocks a couple years back, but hadn't gotten too involved because I needed the money for my house, but now I think it's a good idea to get back into it.

    Thanks for the suggestion, 2ndTimeAround. I am very competent to torrents. :) I shall add the series to my listening list. :)

    Might as well get back into the market before it recovers right?

  6. I've listened to the audio books, Real Money, Mad Money and Getting back to even all by Jim Cramer. It's all pretty good stuff, but a lot of the stuff he talks about confuses the hell out of me. Mainly when he talks about P/E ratios, IPOs and a whole plethora of other stuff I can't remember. Or maybe I'm just being stupid.

    Can anyone recommend any other good books?

  7. That's awesome! I wish my credit union offered that service. :( Does it put a hard inquiry on your report?

    Nope. Soft. :)

    I am trying for a mortgage and was just checking to see if they pulled yet and noticed experian was not on there.

    In my opinion, if you're trying for a mortgage you don't need all three. They go by the middle score. Let's say your EQ score is 702, but your TU score is 750, Your middle score can be no lower than 702, but no higher than 750. So it can still give you an idea of what your middle score is.

  8. I appreciate the wisdom of Benjamin Franklin. Here are a few of his quotes,

    "Rather go to bed with out dinner than to rise in debt."

    "Many a man thinks he is buying pleasure, when he is really selling himself to it."

    "It is only when the rich are sick that they fully feel the impotence of wealth."

    "It is the eye of other people that ruin us. If I were blind I would want, neither fine clothes, fine houses or fine furniture."

    "Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has the more one wants."

    "If you would know the value of money, go and try to borrow some. "

    "If you know how to spend less than you get, you have the philosopher's stone."

    "He that waits upon fortune, is never sure of a dinner."

    "Gain may be temporary and uncertain; but ever while you live, expense is constant and certain: and it is easier to build two chimneys than to keep one in fuel."

    "Creditors have better memories than debtors."

    "Content makes poor men rich; discontent makes rich men poor."

    "An investment in knowledge pays the best interest."

    "A penny saved is a penny earned."

    1. Cashback rewards are only good on merchandise, i.e., balance transfers don't earn rewards points. ["net purchases only"]
    2. Further, if I'm not mistaken, Chase charges a balance transfer fee of at least 3%, which will wipe out any cost savings.

    I just double checked and you were right about the terms except the fees for balance transfers is Either $10.00 or 5% of each transaction or transfer, whichever is greater. Also the rewards program does not apply to fees. :) With that I'll just sock drawer my Hooters card.

    Either way I still think the Chase Freedom card is one of the best rewards cards out there. :)