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If you have bad credit you cannot resolve, what should you do? Resign yourself to working McJobs (which will never afford you the ability to improve your credit)?
Work at non-Mcjob and a non-federal government contractor job. Fix your credit. Millions of people have fixed their credit without getting a job with the feds. You aren't the first or last person with bad credit. I have gotten passed it without the feds, so can you.
Here's a plan. Start attending weekly career/personal development classes, meetups, job ministries, job clubs, etc. Get 100 mock interviews down and apply for non-McJobs and non-fed contractor jobs.
??? How much do you propose that a minimum wage worker save and invest?
This isn't something you can start as a 25 or 30 year old adult and it doesn't happen overnight. Savings start when you are young. While you live at home you have no debt as a teenager. You should have a part time job in which you are stashing a portion of your income into savings. You build savings over time. As you get older, move up into better jobs, you invest into a 401k while continuing to stash some portion of your weekly income into savings.
Come on, this isn't rocket science. Spend less than you make. Have savings for a rainy day, or week, or month. Whatever it takes. This person's situation isn't different than anyone else's. The difference is that some don't put themselves into a position of large amounts of debt. They've planned ahead of time.
In the end, if you haven't prepared properly you run the risk of things like this happening. And I'm sorry but there's no reason to blame the economy, or anyone else for mistakes you've made. Learn the lesson (bought lessons like these are often the best learned) and start over.
Shouldn't there be some sort of disclosure so that consumers can know the character of the businesses with which they transact?
I wouldn't knowingly do business with such an operation, so shouldn't that information be available to me?
You are free to ask for their balance sheet, run their financials or do your research with available resources. Whether or not they'll provide it is a different story. Just as you have no obligation to allow a potential employer to run your credit. At the end of the day though, it comes down to the simple agreement of doing business (your service for their pay) and who needs who more (within reason of course).
This isn't something you can start as a 25 or 30 year old adult and it doesn't happen overnight. Savings start when you are young. While you live at home you have no debt as a teenager. You should have a part time job in which you are stashing a portion of your income into savings. You build savings over time. As you get older, move up into better jobs, you invest into a 401k while continuing to stash some portion of your weekly income into savings.
Come on, this isn't rocket science. Spend less than you make. Have savings for a rainy day, or week, or month. Whatever it takes. This person's situation isn't different than anyone else's. The difference is that some don't put themselves into a position of large amounts of debt. They've planned ahead of time.
In the end, if you haven't prepared properly you run the risk of things like this happening. And I'm sorry but there's no reason to blame the economy, or anyone else for mistakes you've made. Learn the lesson (bought lessons like these are often the best learned) and start over.
I had part time jobs, I had a paper route, I shoveled snow and mowed lawns, I had the equivalent of $20K saved up by the time I graduated high school.
But I never moved up into better jobs, the most I have earned is $17K, and now I live on a poverty level income after taxes and student loan payments. Kinda hard to live below those means, especially when I am paying half of my net to rent a room.
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