Posted On: June 11, 2007, 12:46 pm CDT

Posted By: TM

I agree with Einstein. I had to file bankruptcy (2yrs ago) not because of any any credit card debt, but more so of a bad choice in people...long story short after 2 mos my car and a rental car were stolen/totalled. The person who did this is in prison and I have a 10yr protection order on....I had 1/2 my ck garnished for over 2yrs and the amount I owed was higher than the intial debt due to the interest rate, so I was forced into making a choice I knew would definately affect my scoring which was pretty good (647). I'm still paying mentally...as far as financially I have 10k in savings, been at my job for over 8yrs and don't qualify for anything due to my current FICO score (545). On the other hand I know people who have filed...bought a house, car and more credit cards...ended up filing again and now own a condo, another car...within a 10 yr period!!!! How can the current system be as accurate as you all think if this is happening??