straight talk

Another Financial Debt Trap To Consider.



Posted: Saturday, March 22, 2008

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That trap is called Debt to Income Ratio. That is where your debt places you in a questionable position to secure additional finding of any kind. Now much of this is brought upon ourselves through spending gone wild. It is called covetousness. However, there are many who have this problem who are only caring for someone. In my opinion our great legislators, politicians, leaders, have allowed Credit Card and Banks and other lenders play a little game with reporting this debt.

Here is a factual example. Lets say you take care of business for someone who is incapacitated, a shut in. They have a credit card and you are, get this, now " an authorized user" so that you can make purchased on their behalf. You do not own the debt it is theirs, yet and get this now, their debt, once you are registered as a user goes onto YOUR Credit report. So if you had $5000,00 of your own debt and were in good financial shape Beacon Score Wise, another game in my opinion and they have $15,000 worth of debt you now have $20,000 worth of debt on your Credit report, WHY?

Now the wonderful credit reporting agency says talk to the lender they only report what they give them. The lender says you are not liable for the debt and you are only listed as an authorized user. So why show the debt? Oh, the government wants it reported that way. Well I do not know that as true or not, just the fact that it is reported that way and that is all I care about. Try and get it removed.

Ok, lets review this again because I know many of you who do not have this situation, but may up the road with a loved one or spouse, you do not own the debt and are not responsible but it goes onto your credit report. Once again, why would this be done? Well think about it? This lowers your credit score [Beacon] and places you into the category of a higher risk. That equates to higher rates in all you do for what ever loan, purchase or finance you may need to secure if you can even secure it at all. Do I have to spell it out?

This reverberates into everything one does from car insurance, to credit cards, to home mortgages, etc, etc, etc. These are shrewd operators and know all the angles. No it is not about people and always money. Yet what is even sadder is that our politicians let them do this. What they have done and failed to do once again. Is that morality?

So if you read my prior article on Credit cards one can tell this is just another aspect of an industry, with untold power to destroy a persons life, yes destroy and get this for lending "unsecured debt". Yes, there is NO political Obama, Hillary or McCain with enough of you know what to even address that issue and quite frankly there is no one in the media who will ask the question. Why is this allowed?

Once again we get down to the root cause, the nuts and bolts of who people profess they are and what they really are. Yes, don't like it, well what you profess is not who you are, what you do, your works is who and what you are.

You steal, you are a thief be it a physical thing or an accounting entry. You break the law, you are what you are by nature of that crime, felony, misdemeanor or what? You can look good, speak well, and be all the rave externally but inside where the tire meets the road you are what you are. The face in the mirror may lie but the soul doesn't.

So just one more issue on the road of many issues. Profess what? Hope what? Believe what? We shall know them by their works, what they have done but more significantly what they have failed to do!

If you haven't read my last article I recommend you do that as well. Your eyes may open a bit.

So go ahead and believe and hope, smile and cheer but if you do not consider that which they do without even a thought of the impact, then you deserve what you get. If this is not a sign of a sinful and immoral age then what is. In fact many think it business as usual and do not see anything wrong in it. Yes and therein lis the answer, where your heart is so is your God.

So, help your fellow American now., Don't wait for change, make it. Write, call, talk, spread the news, Change Congress Change America and get this right off of the pages of The Book "Trust in no man"! It is all in ones works.

Robert T. Melaccio Sr. 2008 Copyright 2008 Robert Melaccio



Robert Melaccio Sr. has worked in the computer industry for 40 plus years in a diversified business and managerial environments. He enjoys freelance writing, giving seminars for young adults and teen groups as well as being an accomplished award winning poet of published poetry. He has worked teaching and as a youth minister. He is married and has three children and three grandchildren.

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Top-level comments on this article: (1 total)
» left by Judi Lake
 3 years 309 days ago.
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Well, Mr. Robert, another right on and strong article! Since Gary and I are the sole caregivers of my senior dad, we can attest that all you write is true. Sadly, you can't even care for a family member without getting sucked in. My father, a retired NY police officer, is also always badgered by the IRS yearly having to, at 84 years of age, pay back an enormous amount of taxes because... well, apparently the government thinks he's making too much money being retired. I can go on and on and on and on but, Thank God, you do it for me! God bless you, my friend!
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» left by 3 years 308 days ago.
Judi, I am now posting an article on Problogs that speaks to why we have the issues. I wrote one a few years ago on Searchwarp that did well. Get this, the state of Florida has a law on their books that says if you receive a traffic violation and you go to court and win, or you elect to take the state test and pass it, insurers cannot raise your rates and charge you extra for those "tickets" they are no longer violations. WELL, it was alleged to me by multiple company agents that many isurers have "arrangements" with the state. So these arrangements allegedly allow them to "circumvent" the law and charge for that ticket EVEN THOUGH you were not charged for it, won the case. You see in Florida it stays on your record forever and insurers can go back 5 years. Yes, Judi, tell me it is not darkness and sin and yet We the People reap what we sow and we are at the mercy in my opinion of of incompetent or in immoral people. How many all about you flock to their candidate of hope? Tell me we as a natin have not fallen and as our forefathers said, by our own hand. Beware the Wolf! All my very best you you and yours. Peace and Blessings, Robert!
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