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difficult child given credit...we are baffled
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<blockquote data-quote="trinityroyal" data-source="post: 251528" data-attributes="member: 3907"><p>Sigh. difficult children with credit. The mind boggles.</p><p></p><p>The thing with the credit bureaus is, your difficult child has a social security number, so as far as they are concerned, she exists.</p><p></p><p>If she's never had any credit before, then her credit score will be neutral. It won't show any bad credit, such as missed payments, unpaid debts, defaulted loans or whatever. </p><p></p><p>So...a business such as this phone store that obviously has a very low threshold for eligibility, would sell her a phone on credit. That would start to establish your difficult child's credit history. Equifax hasn't issued a bogus report, they've just provided whatever information they have on file.</p><p></p><p>With this unpaid debt hanging over her head, difficult child is in danger now of starting to accumulate bad credit. While she's so young, and still showing impulsivity, there are advantages, in that banks, car companies, major credit cards etc. are unlikely to issue her any credit. However, she would need to clear the debt and accumulate a good credit history to wipe her slate clean, so to speak.</p><p></p><p>Hope this helps a little. Let me know if you need more info.</p><p></p><p>Trinity</p></blockquote><p></p>
[QUOTE="trinityroyal, post: 251528, member: 3907"] Sigh. difficult children with credit. The mind boggles. The thing with the credit bureaus is, your difficult child has a social security number, so as far as they are concerned, she exists. If she's never had any credit before, then her credit score will be neutral. It won't show any bad credit, such as missed payments, unpaid debts, defaulted loans or whatever. So...a business such as this phone store that obviously has a very low threshold for eligibility, would sell her a phone on credit. That would start to establish your difficult child's credit history. Equifax hasn't issued a bogus report, they've just provided whatever information they have on file. With this unpaid debt hanging over her head, difficult child is in danger now of starting to accumulate bad credit. While she's so young, and still showing impulsivity, there are advantages, in that banks, car companies, major credit cards etc. are unlikely to issue her any credit. However, she would need to clear the debt and accumulate a good credit history to wipe her slate clean, so to speak. Hope this helps a little. Let me know if you need more info. Trinity [/QUOTE]
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difficult child given credit...we are baffled
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