Is it really that hard for strippers to get credit?
theDirkDiggler
Illinois
A lot of strippers apparently don't have credit or good credit. I remember back in the day, all you had to do was go to college to get a credit card. They didn't care at all how credit worthy you were or that you were unemployed. I guess nowadays, laws and regulations have changed, but i think a small starter line of $500 doesn't carry a lot of risk for the banks and they can use whatever algorithms (in addition to credit scoring) to see if they can increase the limits. Maybe it's just a more recent thing or maybe the vast majority of strippers just aren't or haven't shown themselves to be credit worthy if that's no surprise.
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SJG
Ford Class
http://www.thefordclass.com/cvn78/index.…
See the dry docks.
Use zoom outs and changing back to maps to see where this is.
Newport News Shipbuilding
https://www.google.com/maps/place/Newpor…
Huffy
http://www.divinesecretsofadomesticdiva.…
Here is a hilarious movie about a Rev. Ike sort of a character:
http://www.imdb.com/title/tt0065579/
They show some of it here, watch how he drives into town in a Rolls followed by an armored car to hold the money.
https://www.youtube.com/watch?v=Vq5wk9Lx…
https://www.pleaserusa.com/ProductDetail…
https://www.pleaserusa.com/ProductDetail…
Sophisticated Lady - Duke Ellington
https://www.youtube.com/watch?v=brqxEdws…
https://www.youtube.com/watch?v=aJVACQHI…
This has a really interesting melody and harmony. There are fusion jazz versions of this, and they are instantly recognizable, even without the lyrics. This version makes a pleasant change to the lyrics. To my ear, they must have some sort of pickup and amplification on the wood bass, order to get more sustain.
https://www.youtube.com/watch?v=-wc957do…
Millions of Americans purchase homes with 1099 income.
So it depends on their habits.
Fast forward to the great recession and banks everywhere were tightening their belts, making credit harder to get.
Heck, I've had strippers and SBs (the ones doing it out of financial desperation) tell me they can't even get a checking account at a bank because their credit is so bad.
Then there’s stuff like overdrawing a bank acct and just never addressing it, vacating leases, and have cars repossessed. I also know dancers with unpaid medical bills and school loans. I don’t know how that stuff affects credit score, but it can’t help. If the girls are on public assistance, they probably don’t report any income either.
To buy a house, 1099 employees have to report for several years to use their income. I have heard that girls can buy a car on credit with just deposit history to a bank acct, but they probably aren’t getting the best rates with that sort of in house financing.
If a stripper wants to avoid paying taxes - and she decides to underreport income - she might not show the proper income to justify paying off her purchases. That will raise questions in the mind of a credit officer - or in a credit algorithm.
I’d recommend attempting to keep credit ratings in good shape. I work in a bank, and I see the differences in what folks who pay on time are charged vs those who consistently are late (or who have bad debts). A person with great credit will qualify for lower interest rates - and if carrying a balance from month to month - that can make a big difference.
After the recession of 2008/2009 the availability of commercial paper dried up significantly. So our ability to issue unsecured debt was minimal. That forced us to pull back on lending. As credit has become more available - we’ve basically created tiers where the top tier pays a very low rate - and has other perks to retain those customers. The middle and low tiers are going to feel the pain with higher rates - and no perks (which includes them paying a yearly fee to just keep their charging open).
I think many folks might use debit cards to bypass the need to establish credit. That way they are drawing against their own balances - which is basically writing a check.
But i guess part of having good credit is managing your money well. Strippers in general just don't seem to know how to do this. Maybe some combination of lack of spending discipline and just unpredictable income make this harder.
When she was buying a new truck, she had to work out someway to pay in cash without divulging her identify. No idea how she did that. Perhaps her boy friend.
How she ended up getting a beach condo and a new Porsche, no idea. I'd lost most contact with her by then, but I picked her up at the condo once and saw her Porsche.
There was a time after her dancing that she was a registered real estate broker, so maybe she used that as a front.
I felt sorry for her, because my coworker turned me on to how it works, what it's used for and I got approved. At the time my credit score was in the mid 600s and high utilization.
One of the most important things that an analyst is looking for is consistency. Consistently paying credit card bills, cell phone bills, loan payments, medical bills, etc. I think with the ease of asking PL’s for money - and the fact that there is never usually a need for them to repay the PL - can lead to a minimal sense of urgency in repaying legitimate bills. This can spiral and cause some girls to pay cash for most everything - as it’s just easier to get money from the Bank of the PL. It’s similar to daughters who go to the National Bank of Dad - whenever they need money. It’s easy - but it doesn’t build a consistent pattern of responsible payment.