Wednesday, April 21, 2010

A Hard Lesson Learned!

I can't believe it. My 26–year-old nephew was telling his cousin that whatever he did, “please do not mess up your credit. You can’t buy anything. No new car, no house, nothing.” He then said, “I sure wish I had listened to Aunt Rose when she spent all that time trying to make me pay my bills when I was 18.”

You see he bought a pair of Lizard boots for $200.00 and decided not to send in the payments. I did everything to make him pay but he would not listen. Then he bought a car and missed so many payments on it that it was repossessed. Now he is sad because he can only buy used cars and have to live in an apartment when he wants a house.

He has learned a hard lesson. Hopefully my other nephew will listen to him.


GC (God's Child) said...

it's a tough lesson but at least he learned it now, before he has a family to look out for

Tink said...

Fortunately he made his mistakes early in life and will be back in the black by the time he settles down. If ten years have passed he might already have a better credit score than he thinks. Great that he is offering advice as the younger generation will likely listen to him before listening to a parent. My mom tried to warn me too. Now I am done with credit after settling everything that fell behind while I was out of work. Only bills are household and car note/insurance, phone, rent, etc. Student loans will be life long at this rate.