I'm often amazed at who can, and then in turn, who can't seem to get their hands on loans... young students, heading into college, and just barely starting out lives of possible responsibility, are often handed credit cards, and various loans to accommodate their new living arrangements or needs. With, or without much regard to the fact that they've barely established themselves economically... one way or the other.
While I know there is a need to start out somewhere, I too often see folks (including myself) who have acquired so much debt due to these circumstances, that they suddenly find themselves needing the learn how to consolidate debt... to dig out of a pile of debt they've created. That, or... as times progresses, and they finally get to a place where they want to build or buy a home, obviously requiring money they don't have at their access! At that point, their only/best option may be a some sort of bad credit loan... which are greatly risky for everyone involved, as their history doesn't necessarily prove them worthy of the loan to begin with, but a bank will risk that, in exchange for a higher return? *sigh*
In the end, I'm torn. Due to medical bills, and a bad choice years back, I'm left with some cruddy credit myself. Eventually I would like to have my own home with any future husband. I often wonder what sort of unsecured loan I could, or even would be able to get... Let's pray my man has better credit than I do, and/or we find one of those banks willing to take the risk, realizing my mistakes are long past... and I've grown muchly since then!
