http://blog.lendingclub.com/2008/12/29/automating-your-personal-finances-cuts-both-ways/ The Official Lending Club blog Sun, 29 Jan 2012 13:31:47 +0000 hourly 1 http://blog.lendingclub.com/2008/12/29/automating-your-personal-finances-cuts-both-ways/#comment-1205 Arthur Thu, 01 Jan 2009 21:08:08 +0000 http://blog.lendingclub.com/?p=991#comment-1205 I read the qualifications for getting a loan from lendingclub. Did you know that there is a difference between having no credit and bad credit? Why not have those with a zero credit score qualify for a loan? A zero credit score means you have no established credit history or you have cleaned up your bad credit. You know that people with bad or damaged credit are already a risk, so I know you wouldn't take a change. But you know those with no credit are considered a risk, but some are a risk while others are not a risk. You should realize people with currently good or positve credit once had no credit history. I read the qualifications for getting a loan from lendingclub. Did
you know that there is a difference between having no credit and
bad credit? Why not have those with a zero credit score qualify for
a loan? A zero credit score means you have no established credit
history or you have cleaned up your bad credit. You know that
people with bad or damaged credit are already a risk, so I know you
wouldn't take a change. But you know those with no credit are
considered a risk, but some are a risk while others are not a risk.
You should realize people with currently good or positve credit
once had no credit history.

]]> http://blog.lendingclub.com/2008/12/29/automating-your-personal-finances-cuts-both-ways/#comment-1204 Rich Tue, 30 Dec 2008 04:21:58 +0000 http://blog.lendingclub.com/?p=991#comment-1204 One trick I've been trying to implement is to have separate accounts for my automatic, semi-automatic, and spending accounts. So my ING checking gets all of the fixed monthly bills, and the bill pay system automatically makes the payment. I have another checking account that gets enough money to pay for monthly expenses like utilities or debt payments. Those change every month, but still stay in a narrow band, so there's always enough to pay the bills. The third checking account is used mostly for groceries and gas, which means we're only living paycheck to paycheck when it comes to groceries, which isn't so bad with proper budgeting. One trick I've been trying to implement is to have separate
accounts for my automatic, semi-automatic, and spending accounts.
So my ING checking gets all of the fixed monthly bills, and the
bill pay system automatically makes the payment. I have another
checking account that gets enough money to pay for monthly expenses
like utilities or debt payments. Those change every month, but
still stay in a narrow band, so there's always enough to pay the
bills. The third checking account is used mostly for groceries and
gas, which means we're only living paycheck to paycheck when it
comes to groceries, which isn't so bad with proper budgeting.

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