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Good-Credit Holders Lend Their Histories for Cash

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Good-Credit Holders Lend Their Histories for Cash

Unread postby shakespear1 » Thu 14 Jun 2007, 03:19:21

Just as you think nothing will surprise you, There It Is :-)

Yes, some people are willing to sel their credit histories. In effect giving people access to more credit card. Lets not forget that they currently have BAD credit history and this scheme allows them to get around this. NUTS 8)

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Re: Good-Credit Holders Lend Their Histories for Cash

Unread postby IslandCrow » Thu 14 Jun 2007, 04:51:02

$this->bbcode_second_pass_quote('shakespear1', 'J')ust as you think nothing will surprise you, There It Is :-)
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Sorry but the general idea did not surprise me, however, the following statements indicating that it is legal did:

$this->bbcode_second_pass_quote('', 'F')ederal regulators are investigating the practice, but they haven't banned it. .....

But is it fraud?

"It's not fraud — it's a loophole in the system," says Craig Focardi, a credit scoring expert with Tower Group.


I must remember that for when I need doublespeak: a 'lie' becomes 'a loophole in the system'.
We should teach our children the 4-Rs: Reduce, Reuse, Recycle and Rejoice.
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