Credit Check
12-11-2006, 04:55 AM
#31
Line Holder
Joined APC: Mar 2005
Posts: 49
Shadow Flight
Sorry to hear of your travails...but I feel like you've made this a health insurance argument.
I'm self employed (we'll see how long that lasts). I carry "individual" insurance for my family. Starting in January, it will cost almost $1,000/month for my family of five (myself, spouse, children 15, 13, and 11). The way taxex work, I pay for the insurance personally and being self employed, I'm in roughly a 50% tax bracket. This means I have to "make" $25,000 a year to just pay for medical insurance. I'm not currently carrying disability, I carry general liability, etc. But the health is just astronomical. It is a good policy, but it does have certain "gaps". So I could conceivably get schwacked somewhere.
Health insurance is a huge cost issue for any employer.
However, personal debt is a huge issue for the country at large. It will come back to haunt us in the next 5-10 years.
Sorry to hear of your travails...but I feel like you've made this a health insurance argument.
I'm self employed (we'll see how long that lasts). I carry "individual" insurance for my family. Starting in January, it will cost almost $1,000/month for my family of five (myself, spouse, children 15, 13, and 11). The way taxex work, I pay for the insurance personally and being self employed, I'm in roughly a 50% tax bracket. This means I have to "make" $25,000 a year to just pay for medical insurance. I'm not currently carrying disability, I carry general liability, etc. But the health is just astronomical. It is a good policy, but it does have certain "gaps". So I could conceivably get schwacked somewhere.
Health insurance is a huge cost issue for any employer.
However, personal debt is a huge issue for the country at large. It will come back to haunt us in the next 5-10 years.
I'm sorry to hear about your insurance situation - that's truly not good. I agree with you about personal debt being an issue in the future. The current TV commercial from some loan company where the guy is smiling throughout the commercial and states, at the end, that he's "in debt up to his eyeballs" is very real. It's not a laughing matter.
While I try to live by the philosophy of "pay with cash", sometimes that's unrealistic. So, the other way is to pay off the credit card debt every month and watch the spending. It's a parallel to "pay with cash" because the debt must be paid off in a month.
12-11-2006, 06:46 AM
#32
Gets Weekends Off
Joined APC: Sep 2005
Position: Any, usually behind the wing
Posts: 382
Likewise- everybody has some debt, but the debt load in this country is crushing (or at least will be). While I don't know the specifics, I suspect some of my friends and neighbors are living right up to and past their financial max- because they can borrow the money. While I don't know his income, I have one neighbor tell me in casual conversation that he has a $700 car payment (for one Suburban-no money down) and just moved back into the neighborhood and used an interest only loan to purchase his home. Average retail (credit card) debt in our county is something like $17,000- mind you thats average. I don't carry any credit card debt- does that mean someone has $34,000! Probably!
Back to health insurance- I've no doubt that medical bills can put someone under finanicially. I hate to sound like a socialist, but I'm leaning toward a national health insurance system. That said, then you hear about how well it works in Canada and the UK. I'm not sure what to do, wish I knew, but I do know it's a mess. I'm looking into "catastrophic" policies with higher deductibles to cut my burn rate, but with three kids (one very badly broken arm this year- $20,000, among other episodes I might be better served sticking with the current policy- as expensive as it is.
Yes TD, for a "southern state" NC is fairly heavily taxed.
Back to health insurance- I've no doubt that medical bills can put someone under finanicially. I hate to sound like a socialist, but I'm leaning toward a national health insurance system. That said, then you hear about how well it works in Canada and the UK. I'm not sure what to do, wish I knew, but I do know it's a mess. I'm looking into "catastrophic" policies with higher deductibles to cut my burn rate, but with three kids (one very badly broken arm this year- $20,000, among other episodes I might be better served sticking with the current policy- as expensive as it is.
Yes TD, for a "southern state" NC is fairly heavily taxed.
12-11-2006, 09:39 AM
#33
Gets Weekends Off
Joined APC: Mar 2006
Position: FO - 757/767
Posts: 1,228
Likewise- everybody has some debt, but the debt load in this country is crushing (or at least will be). While I don't know the specifics, I suspect some of my friends and neighbors are living right up to and past their financial max- because they can borrow the money. While I don't know his income, I have one neighbor tell me in casual conversation that he has a $700 car payment (for one Suburban-no money down) and just moved back into the neighborhood and used an interest only loan to purchase his home. Average retail (credit card) debt in our county is something like $17,000- mind you thats average. I don't carry any credit card debt- does that mean someone has $34,000! Probably! Back to health insurance- I've no doubt that medical bills can put someone under finanicially. I hate to sound like a socialist, but I'm leaning toward a national health insurance system. That said, then you hear about how well it works in Canada and the UK. I'm not sure what to do, wish I knew, but I do know it's a mess. I'm looking into "catastrophic" policies with higher deductibles to cut my burn rate, but with three kids (one very badly broken arm this year- $20,000, among other episodes I might be better served sticking with the current policy- as expensive as it is.
Yes TD, for a "southern state" NC is fairly heavily taxed.
Back to health insurance- I've no doubt that medical bills can put someone under finanicially. I hate to sound like a socialist, but I'm leaning toward a national health insurance system. That said, then you hear about how well it works in Canada and the UK. I'm not sure what to do, wish I knew, but I do know it's a mess. I'm looking into "catastrophic" policies with higher deductibles to cut my burn rate, but with three kids (one very badly broken arm this year- $20,000, among other episodes I might be better served sticking with the current policy- as expensive as it is.Yes TD, for a "southern state" NC is fairly heavily taxed.
12-11-2006, 09:45 AM
#34
Gets Weekends Off
Joined APC: Mar 2006
Position: FO - 757/767
Posts: 1,228
I'm sorry but bankruptcy is not a good thing no matter how you slice it and it does hurt your credit. If you want to live off what you make then put the plastic creditcard down. It isn't the fact that people only make $20k that only hurts. It's the fact that you're then burning 22% ontop of whatever you purchase. When times get tight but the cards up. If you dont' ahve cash in hand then forget about it.
Like all things in life there are those that didn't make those mistakes and if they are applying for the same job then why not take them? A young pilot at age 18 gets a DWI. He never touches a drink again. Do you think he'd be hired over me 8yrs later at an airline with somewhat close resumes if I never had a DWI to start with?
Like all things in life there are those that didn't make those mistakes and if they are applying for the same job then why not take them? A young pilot at age 18 gets a DWI. He never touches a drink again. Do you think he'd be hired over me 8yrs later at an airline with somewhat close resumes if I never had a DWI to start with?
PLUS you forgot THE golden rule...it's not WHAT you know, but WHO you know! get a clue!
12-11-2006, 09:47 AM
#35
Gets Weekends Off
Joined APC: Mar 2006
Position: FO - 757/767
Posts: 1,228
It would seem HotMama is in the twilight zone on this issue...
..Bankruptcies are one of the worst thing you can do...A better bet would be search for and read "Key Loans" thread on this site and avoid the pitfalls of massive consumer / school loans.
Keeping up with the Jonses is not a solution. Bankruptcies are not a solution to your problems.
-LAFF
..Bankruptcies are one of the worst thing you can do...A better bet would be search for and read "Key Loans" thread on this site and avoid the pitfalls of massive consumer / school loans.
Keeping up with the Jonses is not a solution. Bankruptcies are not a solution to your problems.
-LAFF
12-11-2006, 09:51 AM
#37
Gets Weekends Off
Joined APC: Mar 2006
Position: FO - 757/767
Posts: 1,228
I didn't miss your point. I understood what you were saying. However I was pushing the point that circumstance doesn't always matter. You're very right that I or anyone else could get into trouble. But places have the play the odds. Overall it's probably safer to hire someone with good credit over bad credit. While not everyone has a valid reason, they would risk having that person in the cockpit.
I know how bad it can hit. My score was dropped 120points because of two unpaid items that totalled less than $200. however they had been paid so it was removed.
I know how bad it can hit. My score was dropped 120points because of two unpaid items that totalled less than $200. however they had been paid so it was removed.
12-11-2006, 09:58 AM
#38
Gets Weekends Off
Joined APC: Jul 2005
Posts: 2,242
A better solution is to not get into debt.
-LAFF
12-13-2006, 04:41 AM
#39
Gets Weekends Off
Joined APC: Mar 2006
Position: FO - 757/767
Posts: 1,228
Divorce
I suggest that a divorce would be in the same category as bankruptcy. Failure to commit to something(whether it be a loan or marriage), irresponsibilty, etc etc. So for those of you who have been divorced, I would be concerned about the background check.
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