So what kind of AA would one expect from CC companies as one defaults on mortage/short sale/forecloses

[camarocasanova]

Just wondering...

 

If this all were to occur next year after all the new CARD stuff is in place,

 

what type of AA should one expect?

 

Will some leave alone because they just plain never check and will some revoke their cards essentially even though always paid perfect history.

 

I am interested in some theories on how this might play out.

[sjca]

Just wondering...

 

If this all were to occur next year after all the new CARD stuff is in place,

 

what type of AA should one expect?

 

Will some leave alone because they just plain never check and will some revoke their cards essentially even though always paid perfect history.

 

I am interested in some theories on how this might play out.

I suspect most will cld and a few will rate jack and cut limit to 100 or so.

[virtualtreasure]

others may opt for acct closure.

[hegemony]

UD is not to be used, but as your score will dive many issuers will take AA based on score alone.

[cocomad]

UD is not to be used, but as your score will dive many issuers will take AA based on score alone.

Yes esp. if they fear there is no collateral to place a lien on for backup.

[hegemony]

UD is not to be used, but as your score will dive many issuers will take AA based on score alone.

Yes esp. if they fear there is no collateral to place a lien on for backup.

who has equity these days LOL

[GEORGE]

Just wondering...

 

If this all were to occur next year after all the new CARD stuff is in place,

 

what type of AA should one expect?

 

Will some leave alone because they just plain never check and will some revoke their cards essentially even though always paid perfect history.

 

I am interested in some theories on how this might play out.

I don't get the question

 

YOU TALKING ABOUT "IT IS JUST BUSINESS"

 

IIJB = CLD/TOTAL CLOSURE/APR JACKAGE

===================================================

WHAT DOES MORTGAGES HAVE TO DO WITH CREDIT CARDS

 

I'm current on all my bills

 

Are there more--->mortage/short sale/forecloses happening

 

...and continue to happen over the next year or years???

Edited February 9, 2010 by GEORGE

[hegemony]

[camarocasanova]

I figured as much...Ok so here is an idea...Suppose one was to use the available lines to turn into $ to set up a real nice secured card with a line of credit around 5k, thus ensuring having a credit card. Sound sensible? I know maybe some of cc's will not come after you right away, or again don't constantly check your score, but it seems like a smart move to do something like that.

[more credit less cash]

I figured as much...Ok so here is an idea...Suppose one was to use the available lines to turn into $ to set up a real nice secured card with a line of credit around 5k, thus ensuring having a credit card. Sound sensible? I know maybe some of cc's will not come after you right away, or again don't constantly check your score, but it seems like a smart move to do something like that.

 

Sounds good, but keep in mind that secured card issuer can AA like any other unsecured card issuers and with the new card law, the card issuers are gonna be much more likely to take you to court if you can't pay back.