Quote:
Originally posted by cool_chick
...(edited) This was an ongoing ordeal and was very painful for him, ruined his credit, put him in debt.
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The stories I've heard on Clark Howard's show all sound like this nightmare. But, why would it put anyone in debt? It's not their debt.
As far as being arrested for passing bad checks, it sounds very 19th century. OK, so you got me. They're not my checks. Prove it. The burden of proof is not mine. Produce a pic of my ugly mug passing one of these checks.
The problem I see is trying to refinance a mortgage. But, if the debt is not mine, it will be removed prior to application. The true victim becomes the sloppy lender.
When I last refinanced, the loan officer said "don't worry about this (errant) Discover Card on one report, you qualify even with it." There's something odd about that statement.
edit: I didn't check my three reports prior to refinancing or the above wouldn't have happened.