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.