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Magnanimous Offer from FMS Services


NASCAR_Devil
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Fianlly got home to read the latest dunning letter I got in the mail today (Monday) from FMS Services (anybody got any info on them?) with a "Unique Opportunity" to transfer my time barred debt to the NEW AFFIRM MASTERCARD. Gosh that was nice of themxjawdropx and OMG they actually state on the brochure:

" If this account is unenforceable in court for any reason, accepting the Affirm Mastercard will make the transferred balance enforceable in court. If this account is no longer listed on the Credit Bureaus, accepting the Affirm Mastercard will make the transferred balance reportable to the credit bureaus"

This ought to be one of those Priceless Mastercard commercials:

Having the sheer stupidity to send me this letter and ask me to bend over and take it up the tailpipe: PRICELESS:ROFLMAO2:

Guess they don't think people read that $h!t. Oh well, guess I'll stay up long enough to write the DV on this

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No question that collection agencies are scum-sucking pigs for doing things like this but we already knew that didn’t we???

I have to say, “magnanimous offers” like this are only playing to consumer’s own greed and stupidity in that so many believe that the way to financial prosperity lies in a piece of plastic or that the answer to their “credit problems” rests in securing more credit!

Sites like this are full of posts from consumers who tried that route and failed but wheat I find most sad is that many don't realize they’ve failed - as soon as their FICO scores allow, they are MORE than willing to put themselves back into the same situations that precipitated their need for sites like this in the first place. :sad:

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Sites like this are full of posts from consumers who tried that route and failed but wheat I find most sad is that many don't realize they’ve failed - as soon as their FICO scores allow, they are MORE than willing to put themselves back into the same situations that precipitated their need for sites like this in the first place. :sad:

I agree...sort of. The whole point of rebuilding credit is securing new credit once your scores are high enough. Having the willpower to not use it is a totally different subject...

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And I agree to a point.

Yes, it is important that we maintain a “good” credit history and I’m emphatic about making sure our credit reports reflect the truth and reflect it accurately. It’s also important because lots of lazy businesses today make many decisions based on our credit history (even if the decision they are making has nothing to do with lending money). But that doesn’t mean you need a good FICO score.

The only way to have a good FICO score is to have a lot of debt and to make the payments on time and the only reason to have a good FICO score is to get more debt. :urcrazy: Thank you but no thanks.

Banks don’t issue credit cards and lenders don’t lend money because we “need” it or because they want to be charitable; they do so only because they make money…lots and lots of money…money that WE could be saving instead of spending it/sending it to them if we had even a basic understanding of how compound interest works and a modicum of will to take action on that understanding.

The vast majority of people in this country could be wealthy and retire wealthy (and not be working at Wal-Mart when they are 70) if they simply stopped trying to borrow their way to prosperity and lived on less than they make.

Maybe I’m just a stupid old fool but how anyone can look at a site like this and read the posts and still think that credit is a good thing is simply beyond my understanding. No offense intended to anyone; we all the right to think what we want. :)

When the stupid TV commercial asks “what’s in your wallet” I yell back “CASH”.

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And I agree to a point.

Yes, it is important that we maintain a “good” credit history and I’m emphatic about making sure our credit reports reflect the truth and reflect it accurately. It’s also important because lots of lazy businesses today make many decisions based on our credit history (even if the decision they are making has nothing to do with lending money). But that doesn’t mean you need a good FICO score.

The only way to have a good FICO score is to have a lot of debt and to make the payments on time and the only reason to have a good FICO score is to get more debt. :urcrazy: Thank you but no thanks.

Banks don’t issue credit cards and lenders don’t lend money because we “need” it or because they want to be charitable; they do so only because they make money…lots and lots of money…money that WE could be saving instead of spending it/sending it to them if we had even a basic understanding of how compound interest works and a modicum of will to take action on that understanding.

The vast majority of people in this country could be wealthy and retire wealthy (and not be working at Wal-Mart when they are 70) if they simply stopped trying to borrow their way to prosperity and lived on less than they make.

Maybe I’m just a stupid old fool but how anyone can look at a site like this and read the posts and still think that credit is a good thing is simply beyond my understanding. No offense intended to anyone; we all the right to think what we want. :)

When the stupid TV commercial asks “what’s in your wallet” I yell back “CASH”.

Very well said AND true. One question though: How did you rebuild credit, then?

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I didn't...I stopped using debt.

My credit history is accurate but I have a fairly low FICO score becasue I have very lttle debt and no recent debt...a few yeas after my home is paid for I ecpect I won't have a FICO score at all (I'll be celebrating that day xdancex ).

The only thing I have financed in the last 15 years is my home...I pay cash for anything else I need or want and if I don't have the cash then I know I can't afford it.

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