We as a society do more to guarantee a persons failure, than we ever do in favor of their success. 33% on this Country has a credit score of between 500 and 600. This is considered a “poor” credit score. From what I understand, 700 is the bottom of a good credit score. I guess that leaves 600 to 700 as the “maybe” range for getting screwed over. Here is how credit works in America. . .
- A man that lives within his means and does not use credit, gets a “shit” credit score. Why? Because he has not become one of the 50% of America that is more in debt than their income can cover.
- Our Poor, minimum wage earners that struggle to put food on their table also get a “shit” credit score. Why? Because we don’t believe they earn enough to ever pay back a loan anyway.
Both of the aforementioned persons have one thing in common. Rather than provide reasonable affordable loans and credit to these people, we leave them at the mercy of “PayDay” loan lenders and “Consumer” loan lenders that take the already panicked person and capitalize on their problem leaving the person so far in debt, that you may as well just take the loan and everything else the poor sap owns right now, because the loan provided him is always more than he can afford to pay. In desperation he will still take the loan, hoping for a better day tomorrow. I mean, “life cannot suck every day of the week can it?” Well it will suck every day after you get yourself obligated to pay for one of these loans.
I have a credit score in the mid to high 500’s. I also have a guaranteed income for the rest of my life. In August of last year I had no credit. No good credit, no bad credit, no credit at all. So when I went to Uber’s Auto Purchase Program to buy a car and got directed to a Dealership which was supposed to be working in cooperation with Uber to provide the drivers new cars with discounts and a fair interest rate, instead of getting the promised “Great Deal” I was provided a “shit” deal in which I was over charged, sold a warranty that I could not use, and deceived, tricked, and lied to into a car loan of 22.75 interest rate. I swear at no time did I knowingly sign any portion of any contract that disclosed such an interest rate. As soon as I discovered that I had been played, I knew that I was marked to fail. There just is no way in hell you can pay a $951.00 per month car payment, $200.00 insurance payment monthly, a minimum of $440.00 in fuel costs, $90.00 in toll expense, $75.00 in car wash expense, $40.00 in canteen expense, $140.00 in cell phone expense, and a few dollars for this or that while trying to earn a living driving for Uber. Then the next month Uber cut their rates paid to drivers. As of last month, I drove for Uber without making any profit at all except one day in which by accident I averaged $5.35 per hour prior to payment of the required 25% Self Employment taxation. Seriously, no payroll, no profit, nada, zip, nothing at all, done.
So, a couple of weeks ago I just gave up and called the finance company to come pick up the car. I paid on that car at $952.00 for 10 months, and the note on the car is still $5000.00 more than the MSRP on the car. During the last 2 months making any kind of reasonable income from working with Uber was reduced to bullshit as Uber had flooded the market with thousands of new drivers reducing demand for drivers. Thus I had fallen a little behind in my payments. Yes, I had fallen behind by $97.00 for a period of 1 week, not 30 days as reported on my credit report. My payments were paid directly from my pay by Uber weekly. Anyway, I had been working without earning a dime for months and Uber wasn’t fairly compensating drivers. I just could not afford to pay for a car to use driving for Uber if Uber wasn’t going to pay me enough to support the costs. So, last month I asked them to come pick it up. I cannot tell you the feelings of failure that I had to deal with because I just could not understand how Uber could tell me to go see this guy, he’ll take care of you one moment, then the next drop rates and flood the market with new drivers so that it was impossible to make a buck even when you gave it 100% effort.
Anyway, the end result of returning my car is now I show 2 derogator’s on my credit report for being late 30 days on the loan in the amount of $97.00 and now a “repossession” even though I asked them to take it. My credit score even with these noted failures is still between 545 and 600 today Now, I didn’t just up and give up on trying to make this work out right so I wouldn’t have to give up the car. For the past 2 months, hell 3 months, I have been trying to get a Lender to refinance the car loan so I could afford the expense. Lenders that offer to get you a brand new car with scantily clad women and a coffee maker would not refinance my car. My own Credit Union would not help me refinance my car. They did give me a small personal loan to help me add to my credit score, but would not touch refinancing my car. So, off the car goes to the lender. I probably contacted 20 different lenders in attempt to refinance my car loan, as evidenced by my credit report, which showed every one of these lenders accessing my credit report. Too much activity on your credit report is not a good thing. It is seen as a negative on your credit profile.
So, now I do not have a car and cannot drive for Uber, Lyft, or SideCar without a car. I do the next logical move and start looking for a lender to help me get a set of wheels under my butt. Guess what, I could not get a car loan. I could not buy myself a car because of my credit score. But my girlfriend who had never purchased any thing major in her life with credit, who was barely employed, who had a net worth of about $20.00 was able to buy a good used 2014 car with me as her cosigner. But, now I need to come up with a $1000.00 down payment. Sure, I can do that. So I figure I ought to be able to get about a $2000.00 personal signature loan, with little difficulty. Do you know I could not get a loan from anybody. The banks wouldn’t touch me, my credit union shit on me. It’s like I suddenly have a fucking disease and everybody is afraid that they will catch it.
The only loans I could get and they were not adequate to meet my needs was one loan for $500.00 that will cost me $2500.00 if I pay it off in installments and another for $450.00 that will cost me $680.00 if I pay it off in one payment. My Credit Union that gets my monthly retirement check like clockwork each month, the same credit union that I am paying off the previous signature loan this week would not even give me another $500.00 loan. Every place I tried a loan on line comes back with an immediate denial. How can I possibly be getting the shit end of the stick from everyone. Nobody details the reason for denial until you receive it in writing which may take up to 30 days. Man am I pissed by the treatment by these lenders. So, I get to thinking . . .
I am President of a Driver’s Association that is very vocal about Uber being ethically challenged. I have openly provided information to every government body that would listen about how I was tricked into the loan on the car I just returned, and I just made a T-Shirt for sale that says’ “Travis Kalanick can Suck My dick.” Maybe I pissed someone off and they have an inside to the credit unions. Is it possible that my buddy Travis has that kind of influence into the lives of his minions? It really is not possible that Kalanick and his “goons” are targeting me because I am so vocal in my discussions of Uber? Naw, there must be other reason . . .
Well let’s see how the deck is stacked against me at the moment. My rent is behind by 3 months effective tomorrow $1760.00, PG&E up to about $800.00, Water is at $750.00, I owe $500.00 still towards the car, picked up 2 installment loans – $450.00 = $680.00 and $500.00 = $2500.00. So, I need $3810.00 and have $1500.00. Oops, make that $4310.00 after adding Comcast = $250.00, Insurance = $200.00, and Cell Phones = 140.00. Man am I on a downslope or what. I tried to gather some more credit to make up the difference in my needs vs my wallet with negative result and I am “bummed” as I can possibly be. I have to acknowledge my failure in this situation. Uber may have suckered me into this mess, but I wanted to believe in something good and Uber held such great possibilities had they of continued along the path of the good, instead of selling their soul to the devil as they have. Oh well, if I am going to moan and groan about anybody’s losses, it will be my own losses, Uber can lick their own wounds. What am I talking about? Uber has 40 gazillion dollars at their disposal, they haven’t suffered a bit.
By my observation the new driver does not recognize that he is actually losing money with every mile his car’s wheels turn for Uber, until about his 3rd month working with Uber. There is not much you can do to warn the new drivers as they are brainwashed at reception to believe they are making mega-bucks, while just making expenses. Okay, where did we leave off . . . $4310.00 with $1500.00 in my hand. Oops! Not in my hand. The Honey done took the car, the credit card, the cash, and her sister and headed north to take her sister home to GeorgeTown up near Placerville. Well, that blows that idea. I am $4310.00 in the hole without a chance in hell of making it work out in my favor. Have you ever felt like you just need to give up and toss the cards in the air to let them play where they fall? Shit, shit, shit . . . My life most certainly sucks ass!
Let me give you folks out there in reader-land a tip . . . Make Credit work for you. Manipulate and grow your credit score like your own little garden. Feed it, fertilize it, and harvest it as necessary . . . But DO NOT let it turn to shit on you. Sometime, someday, somehow, someway, you are going to need that little credit score. When you do, make sure it “rocks” and “rocks” well in your favor. And, I do not care how friendly, how concerned, or how attractive those Sales People are, DO NOT trust them. I mean it! There is not an honest person conducting business anywhere in this world that I know of. They do not care how badly they help you get screwed, so long as they profit by it.
I don’t know where the the next few days are going to play me to or from, but I need a break from all the bullshit. Does it make any sense to you that the people that need credit to survive a situation or to do a job, get the credit at such high interest rates that they cannot help but fail? What kind of Country do we live in, that we straight up put our less fortunate in a position that they have to produce 3 and 4 times more than the more affluent to get a break. That in itself is something to consider. You folks with your noses in the air like you have done something. Look at the poor bastard that has to do 3 or 4 times more than you because of Lenders greed. That guy has done something! He has survived in a society that stacks the cards against him creating exorbitant odds on his success. It is simply ridiculous! One of my loans today came with a 616.99 interest rate. Do you think I will survive it? Hell, I am still $2810.00 in the hole that I can’t swing a loan for. And, all I needed was a responsible Lender to loan me $2500.00 with maybe a 7% interest rate for a 12 month term and I could have salvaged my losses and maybe felt good about my day. Instead, I wish I could rip the nutz off anybody at my credit union because they absolutely suck and wish some politician would make it his goal to create laws that stop Lenders from taking advantage of the desperate. I swear to the Good Lord Above, I will never look at a Lender the same way as before. Now, there isn’t a damn one of them not a crook. I’ll pay to have my credit score fixed if I survive my current losses, before I ever go before a Lender with a credit score of less than 700, ever again.