It Started Slow

It started out slow at first. Everyone knew that I was making good money, and looking back, I now realize how the game was played. While my Mother was still alive the well defined boundries of caregiver-patient were respected. After my Mother's passing, I was hoping for continued support from my siblings. Instead they tried to have commited to an institution, claiming that I was unable to handle my own affairs. Because of my family's abandonment and the terrible loss of my parent, I naturally gravitated towards the support of my caregiver and her family.

It wasn't long until "My son is behind in his rent. If he moves in with us, I'll have to quit so I can babysit his kids while he works. Are you going to help me or not?" Back in those days, it took time to place an ad in the paper, interview and hire someone. How would I survive during that time frame if my caregiver just quit? All of a sudden,I realized how dependant and vulnerable I really was. The caregivers already knew this. They had been down this road before.

That was the begining. I tapped a card. Then it was "My alternater is bad,...I don't know how I'll afford Christmas,... I don't have my medication because I can't afford the co-pay." My family had thrown me to the wolves and the feeding frenzy had begun.

The credit cards that were empty began to fill with other peoples debt. I had signed IOU's, promissory notes and contracts. Agreements were made for the debtors to pay their bills. However, when they didn't make their payment, it was MY credit that took the hit. I learned quickly that the credit card companies don't give a damn concerning your circumstances, they just want their money. As of this date, 4/23/2010, the banks, the credit card issuers, are being charged .02% on the money that they borrow from the United States Government, The Fed. Yet the average credit card interest rate is 17.8%. I have seen credit cards as recent as last week with an interest rate of 56% interest!!

NEVER LOAN MONEY!! It destroys friendships, relationships and tears families apart. Just count all the judge shows on television. Your credit is your lifeline. Guard it, Protect it and be very careful about who knows you have it.

What Happened To Me

My credit problems began after my parents passed away. Being paralyzed in 1967, my life looked pretty bleak. As a sixteen year old quadriplegic, there weren't very many employment options on the horizon. Like so many millions of others, I sold Amway for a few years, my Mother and Father making my deliveries for me, while I sold products over the phone in my small community. I had loyal customers and I always had money for new clothes or some electronic gadjet, but I never made any REAL money. Things changed when I attended Michigan State University-I got a pre-approved student credit card!!

Being naturally frugal, I used the card sparingly. I could pay for a new stereo or speakers and pay it off in a few months. I developed a good credit history before I graduated.

After graduation, I flew to England and stayed with a friend for about six weeks, thinking I would return to my parents home to begin my job and apartment searches. Unfortunately, my Father passed away shortly after I returned home and I decided to stay where I was so my Mother would not be alone.

I began hiring people as home health aids but in the good financial times of the mid-eighties, most of the people that answered my minimum wage job had less than stellar backgrounds.

I enrolled in a stockbrokers education course in Detroit, and the pre-approved credit cards began to roll in. When the cards numbered ten or so, the credit line I owned reached nearly $300,000.

I earned my state and federal brokers licenses and began working in Flint, Michigan. The caregivers took notice. As my income rose, so did the needs of others. "can you loan me ..." became a never ceasing request, and I, being grateful for their help would write up a contract and access an empty card. What a mistake! If they didn't pay, I had to, or damage my credit. If I fired them, they lost the ability to repay me. If I let them go and sued them, how do you collect? I slowly became deeper in debt.

A Forced Absence

It's been a year and a half since my last post. So much has happened to me both as a quadriplegic and as a person intrigued with our credit system. I recently was contacted by a collection agency, stating that I owed on a bill from a power company. I found that a former caregiver had been using my information on their power bill. Everything was fine as long as the bill was paid, but before they were evicted from their home, they chose not to pay the final bill. Because it was in my name,(which I never knew), it showed up on my credit report.

According to the Fair Credit Reporting Act(FCRA), you must first dispute your issues with the credit bureaus BEFORE you go to the original creditor. That requires the credit bureau to initiate an investigation on your claim. I learned much of this vital information from a free Credit Repair Kit offered by a free website with thousands of free offers that will earn money for you. That web adress is http://allsolutionsnetwork.com/TE/TE19999

I wrote letters to the three major credit bureaus with proof of residence and expect to hear from them soon. The credit bureaus have a certain amount of time to respond before they are in violation of the law, whereby the issue may have to be removed from your credit report altogether. I'll keep you posted.

Identity Theft

I never thought it would happen to me, but it did. I pulled my credit report nearly six months ago, and like most people, I was concerned with inquiries and other credit items that were less than stellar. I paid very little attention to my personal information. When I finally began to look at EVERYTHING on my credit report, I found an address in Ohio that was listed as a former residence. I've never lived outside of Michigan. The apartment complex listed was the same one that my former caregiver lived in. Coincidence? I don't think so.

In order for someone to check your credit, they need your social security number. My former caregiver did know mine. I think that she offered my number as a possible cosigner or had her then boyfriend pretend to be me, to get her apartment.

So, what do you do? Here is what I did. I called the Michigan State Attorney Generals Office and was referred to the fraud division. I was then told that they could look into it, or, I could contact the Social Security Fraud Hotline and let the Federal Government take a peek at it. I chose to go to the federal level. They offer you an 800 phone number, an online form, a fax number or an address to send a letter to. I wrote a letter and invested a stamp knowing that everything I typed got to where it was sent. We will see what transpires.

How it Began

I am a quadriplegic. I have been paralyzed since I turned 16 years old and I broke my neck by diving off of a cabin cruiser. I have about 50% use of my arms but I have no grip in my hands.

There, that out of the way, now I can discuss my new passion-CREDIT

How to build it, How to use it, How to destroy it, How to repair it, and how to deal with credit bureaus, credit card companies, collection agencies and collection departments that don't want you to know the things that I'm going to share with you.

Let me tell you my story.

In 2005, I was good friends with a caregiver that had worked with me for three years. She wanted to share my life. At the age of 56 and tired of living alone, I took her up on her offer. I sold my home, moved in with her and was to assume the role of the male figure in the household for her children. I put all of my money, credit, emotion and possessions into my new role, only to have this woman bring a new boyfriend into the home to be the children's father figure. Devastated, I moved out leaving everything behind and moved in with a sister who was dangerously close to losing her home. My rent kept the dogs away from the door long enough for her to find work and between her income and my rent, she began pulling free of her debt.

However, during my initial move into my sisters home, my mental state was such that I didn't really want to deal with the everyday. I had just lost everything. Well-not quite everything, I still had excellent credit- for another month. Because of my disability, I had my sister's name on a signature card so she could do my banking for me. She did my banking all right.

She took my rent from my disability check, then took some more-a lot more, so much more that when it was time to pay my credit card payments, there was no money to pay the minimum payments.

Well, there I sat, credit cards that were established in 1978, excellent credit for 27 years, and no money to pay them. I called Discover Card and explained my situation to them, hoping that they would work with me. Bluntly and coldly, I was told that there were no programs to assist me. That month my credit cards went unpaid.

The following month I began to get the phone calls. At first they were gentle reminders, and I again tried to ask for time. Again there were no plans that could help me. Again my sister had used most of my money, again the credit cards went unpaid.

Then it happened!! The phone calls became harassing. My interest rate went from 7.9% to 29.9% in one month!!! I couldn't believe it, after 27 years of excellent credit! At that rate the cards would never be paid off and I knew it. I decided that I would never be able to pay them off. Interestingly enough, Discover Card all of a sudden had a program that they offered people in my financial situation., but at 29.9%, it wouldn't have helped. My credit took the hit, and one by one, the other banks began to cancel my cards.

That was fall of 2005, and now in 2009, I still get an occasional phone call.

But I have learned a few things!!! The Fair Credit Reporting Act, the F.C.R.A., one of the best things that congress has done for the little guy.

This book is GREAT!! I bought it on Trial Pay. What a deal! I have learned so much from "Good Credit Is Sexy", I have started my own Credit Repair Consulting Business.

Order the Book!