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Credit Bureau - US Credit Report & Debt Records
Credit Bureau - US Credit Report & Debt Records
Started by Anonymous · · 👁 9 views · 240 replies
#62 ·
Thanks
Not even close—it hasn't even been two full weeks, let alone a month. The woman at JPMorgan Chase keeps insisting it doesn't matter, acting like I'm not some kind of rigid rule-follower. But whatever. I went ahead and paid one installment on my own, so from here on out, I’ll be on a 15-day payment cycle.
Not even close—it hasn't even been two full weeks, let alone a month. The woman at JPMorgan Chase keeps insisting it doesn't matter, acting like I'm not some kind of rigid rule-follower. But whatever. I went ahead and paid one installment on my own, so from here on out, I’ll be on a 15-day payment cycle.
#63 ·
So I'm looking at this report and the description says: 1 - Paid within 30 days of the invoice date; paid according to the agreement. 😉
#64 ·
Given that HROK has been effectively "out of the picture" since May 25, 2018, I’ve been pondering a bit of a hypothetical scenario. Is it actually possible to take out two separate loans from two different banks at the same time? Specifically, could you theoretically purchase two different apartments using the same credit capacity—say, based on your single salary? My thought process is this: you rent one place out and live in the other, which would leave you with enough cash flow to cover both mortgage payments simultaneously.🤔
#65 ·
Gary Stewart78 said:Given that HROK has been effectively "out of the picture" since May 25, 2018, I’ve been pondering a bit of a hypothetical scenario. Is it actually possible to take out two separate loans from two different banks at the same time? Specifically, could you theoretically purchase two different apartments using the same credit capacity—say, based on your single salary? My thought process is this: you rent one place out and live in the other, which would leave you with enough cash flow to cover both mortgage payments simultaneously.🤔
It isn't possible.
New data hasn't been fed into HROK since May 25th, but all the existing records up to that date remain fully accessible.
Besides, an American bank isn't going to hand you a loan based on a handshake or "good vibes." They require pay stubs, bank statements, credit card history, debt disclosures from other institutions, and so on.
#66 ·
Rebecca Green7 said:It isn't possible.
New data hasn't been fed into HROK since May 25th, but all the existing records up to that date remain fully accessible.
Besides, an American bank isn't going to hand you a loan based on a handshake or "good vibes." They require pay stubs, bank statements, credit card history, debt disclosures from other institutions, and so on.
First off, thanks for the reply, but here's the actual situation:
Yes, HROK has all my records up until May 25, 2018. And I've been incredibly diligent—solid income, perfect payment history. In twelve years, I haven't missed a single due date on a bill, let alone a loan or a credit card. Honestly, everything has been handled perfectly (all my previous loans and debts were cleared over three years ago).
Regarding the mortgage, I was actually at JPMorgan Chase a few days ago, and they told me that instead of relying on HROK, they now want to see my checking account statements and details for any credit cards I might hold. They didn't mention needing official clearance from every other bank to prove I don't have existing debt.
Are we really expected to bring in proof of non-indebtedness from every single one of the more than twenty different banks out there?!? 😲
I'm asking because I have a real opportunity to pick up two apartments—one in a prime location for rentals and another to live in. Both properties are priced well below market value, so if anything ever went sideways, the bank could "easily" recoup their money. Plus, I don't see why they'd even bother triggering the mortgage if payments are being made regularly, regardless of whether I already have another loan tied to my monthly income.
To my way of thinking, it’s no different than taking out a home loan and then losing your job; the bank doesn't care about your employment status, they only care about whether you can cover the monthly installment, right? 🕺
#67 ·
Gary Stewart78, just give it a shot. All you're losing is your sanity, the hassle of gathering paperwork, and the endless wait for approval... 😉
#68 ·
rapidskipper12 said:Gary Stewart78, just give it a shot. All you're losing is your sanity, the hassle of gathering paperwork, and the endless wait for approval... 😉
He’d be absolutely right if I didn't have to pay off both properties simultaneously upon committing to the purchase 😵
But seriously, does it really make sense for banks to demand proof from every single financial institution that I don't have any outstanding loans, especially when half of them don't even have a local branch in my city?!? 👎
#69 ·
Banks always demand all sorts of proof regarding your credit history from "your" bank—specifically the one where your paycheck lands. I know one particular lender just asks for a signed statement from you detailing your current debt levels. Honestly, what you're suggesting seems doable right now. If you manage to secure two loans, I don't see any reason for a bank to dig deeper as long as those payments stay current. Being on good terms with HROK doesn't carry much weight at the moment anyway, since HROK isn't functioning properly right now—at least not for individuals or small business owners. Because of that, banks can't even send out inquiries, so they have no way of seeing that you were staying on top of things.
#70 ·
So, I have an account over at Bank of America, and just about a month ago, I took out a personal loan. When I signed the paperwork, I had to sign a statement under penalty of perjury, swearing that everything I told them was 100% true—specifically that I don't have any other credit cards, loans, or outstanding debts at any other bank.
Then my husband pipes up with, "How on earth are they supposed to know if you're telling the truth? They can't exactly verify all that, can they? And honestly, if they try to dig into our private business, we could probably sue them for violating privacy laws. You basically just gave us the loan for free."😬"
"Oh, absolutely not," I said. "They can find out everything, and then it’s straight to court."
But, I suppose there might be some truth to what he's saying. It feels like their hands are somewhat tied; you can technically sign a document claiming anything you want, yet they might not have a direct legal pathway to verify every single detail of your private financial life instantly.
Then my husband pipes up with, "How on earth are they supposed to know if you're telling the truth? They can't exactly verify all that, can they? And honestly, if they try to dig into our private business, we could probably sue them for violating privacy laws. You basically just gave us the loan for free."😬"
"Oh, absolutely not," I said. "They can find out everything, and then it’s straight to court."
But, I suppose there might be some truth to what he's saying. It feels like their hands are somewhat tied; you can technically sign a document claiming anything you want, yet they might not have a direct legal pathway to verify every single detail of your private financial life instantly.
#71 ·
You can talk all the trash you want about Bank of America while you're staying current on those loan payments, but the second things go sideways—like if you hit a rough patch or miss a payment—they’ll be all over you. That signed agreement you handed them? It’ll be the least of your worries when they start breathing down your neck...😬
#72 ·
I’m right there with you, folks 😉
In my view, whether HROK gets up and running or not doesn't really change much for us. Banks have plenty of other ways to hedge their bets and protect themselves. As long as you're sticking to the terms of your contract—you know, keeping those monthly payments coming in on time—the bank isn't going to be losing sleep over my personal business or what's happening in my private life.
Does anyone happen to have any inside track on this? What’s your gut feeling—do you think we'll actually see HROK become operational before the year wraps up?
In my view, whether HROK gets up and running or not doesn't really change much for us. Banks have plenty of other ways to hedge their bets and protect themselves. As long as you're sticking to the terms of your contract—you know, keeping those monthly payments coming in on time—the bank isn't going to be losing sleep over my personal business or what's happening in my private life.
Does anyone happen to have any inside track on this? What’s your gut feeling—do you think we'll actually see HROK become operational before the year wraps up?
#73 ·
Gary Stewart78 said:I’m right there with you, folks 😉
In my view, whether HROK gets up and running or not doesn't really change much for us. Banks have plenty of other ways to hedge their bets and protect themselves. As long as you're sticking to the terms of your contract—you know, keeping those monthly payments coming in on time—the bank isn't going to be losing sleep over my personal business or what's happening in my private life.
Does anyone happen to have any inside track on this? What’s your gut feeling—do you think we'll actually see HROK become operational before the year wraps up?
Has anyone heard any recent updates regarding when HROK will finally open up for citizens? 🤔
#74 ·
Word on the street is that HROK will be starting up operations very soon!
Does anyone have any additional details?
Does anyone have any additional details?
#75 ·
We’re still waiting on the code of conduct, still waiting on the legislation... it’s not happening before the year wraps up.
#76 ·
swiftlynx34 said:Word on the street is that HROK will be starting up operations very soon!
Does anyone have any additional details?
#77 ·
Hey everyone,
Just helping out a friend with a couple of things.
1. Does the credit bureau report everything, or just the stuff that isn't being paid off? And can you actually see if someone is acting as a co-signer?
2. When did this whole credit reporting system start?
Here’s the backstory: about 20 years ago, my friend signed some paperwork to be a co-signer because someone told her they were backing out of a loan right after she signed. Now she's stressed out wondering if she's still on the hook, but they aren't exactly on speaking terms, so she can't exactly ask.
Then, about 15 years ago, she applied for a loan herself. The lady at the bank told her she was good to go, as long as she cleared a small overdraft and a tiny balance on her MC. She did exactly that and got the loan. I'm thinking—could that mean the old co-signing thing never actually went through? I doubt they'd give her a loan if she was still tied to someone else's debt.
Thanks in advance for any insight! Cheers to all.
Just helping out a friend with a couple of things.
1. Does the credit bureau report everything, or just the stuff that isn't being paid off? And can you actually see if someone is acting as a co-signer?
2. When did this whole credit reporting system start?
Here’s the backstory: about 20 years ago, my friend signed some paperwork to be a co-signer because someone told her they were backing out of a loan right after she signed. Now she's stressed out wondering if she's still on the hook, but they aren't exactly on speaking terms, so she can't exactly ask.
Then, about 15 years ago, she applied for a loan herself. The lady at the bank told her she was good to go, as long as she cleared a small overdraft and a tiny balance on her MC. She did exactly that and got the loan. I'm thinking—could that mean the old co-signing thing never actually went through? I doubt they'd give her a loan if she was still tied to someone else's debt.
Thanks in advance for any insight! Cheers to all.
#78 ·
Hey everyone,
Got two quick questions to help out a colleague of mine.
1. Does the HROK show every single debt, or just the stuff that’s gone bad? Also, can you tell if someone is listed as a guarantor?
2. When did the HROK actually start being used?
Here’s the deal: about 20 years ago, my friend signed some paperwork to act as a guarantor because someone told her they were backing out of a loan right after she signed. Now she’s stressing about whether that actually happened, but since things are awkward between them, she can't exactly ask.
Then, about 15 years ago, she applied for a loan herself. The lady at the bank told her everything looked good, except for a small overdraft and a tiny bit of leftover debt on her MC that needed clearing first. She settled it, and the loan went through. I’m wondering—does that mean the old guarantee wasn't real? I doubt they'd approve a loan if she was still on the hook for someone else.
Thanks a bunch for the help! Cheers to you all.
Got two quick questions to help out a colleague of mine.
1. Does the HROK show every single debt, or just the stuff that’s gone bad? Also, can you tell if someone is listed as a guarantor?
2. When did the HROK actually start being used?
Here’s the deal: about 20 years ago, my friend signed some paperwork to act as a guarantor because someone told her they were backing out of a loan right after she signed. Now she’s stressing about whether that actually happened, but since things are awkward between them, she can't exactly ask.
Then, about 15 years ago, she applied for a loan herself. The lady at the bank told her everything looked good, except for a small overdraft and a tiny bit of leftover debt on her MC that needed clearing first. She settled it, and the loan went through. I’m wondering—does that mean the old guarantee wasn't real? I doubt they'd approve a loan if she was still on the hook for someone else.
Thanks a bunch for the help! Cheers to you all.
#80 ·
unknown
I'm already on it! I'd tell my coworker to just reach out to them directly, but I figured I'd check if anyone here already knew the ropes on how it all works.
electricbadger89 said:HROK hasn't been functional for a year and a half now.
Sent from my VOG-L29 via Tapatalk
I'm already on it! I'd tell my coworker to just reach out to them directly, but I figured I'd check if anyone here already knew the ropes on how it all works.
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