I don't really care what banks think, I have as much credit as I'd ever need within my circle. If I buy a house, I have family that would even take a loan in their name because they know I'm good for my word and money.
Even with my bad credit as a result of being unemployed for six months and the dispute with Verizon, I was able to buy a house - but I had to do it through a credit union, regular banks wouldn't touch me.
I have two more payments and it is paid off, never having missed a payment.
Congrats on almost having paid off your home. Out of curiosity, what interest rate did you have to pay for the mortgage?
12% fixed.
Yes, that's high, but I really had no option.
I probably could have gotten lower from bank if Verizon hadn't screwed me over, but I don't have the assets needed to sue them.
My opinion on the whole credit rating thing is that it's all a big scam, there is no recourse when the customer is f***ed over like I was, nothing I could do. It's basically legal extortion - you either bow before corporate America when there's a payment dispute and pay them or they screw up your credit rating.
What's funny is how much Verizon could have made off of me by now had they simply done the right thing. I don't get it.
Over a matter of $60 (last bill) when I had a $500 deposit - they lost me as a customer for life, and by now I've spent several thousand dollars with their competition that they could have had.