Archive for the ‘Credit’ Category
When my brother and I were attempting to obtain financing for a pair of bass boats we were purchasing to replace the single decrepit boat we had been sharing, I was almost denied financing while my brother was approved immediately, despite the fact that we have similarly good credit ratings and the fact that I make slightly more money then him.
When I asked the sales staff about the delay, they informed me that the difficulty arose form the fact that, while my brother is a full time employee, I am, hypothetically, a part time employee and therefore less eligible for financing.
While I attempted to explain that I actually had a full time career with a media group which publishes two local papers and, because each of these papers is fiercely territorial, I am paid individually by each of these papers, thus making it appear as though I have two part time jobs as opposed to a single career, the sports shop still waffled on the issue of financing until my brother threatened to cancel his order.
This unique employment situation resulted form a promotion I accepted several months ago and I’m now worrying that, despite the fact that it has improved my credit rating, this situation has damaged my ability to obtain financing.
Were my recent difficulties merely the result of the fact that I was attempting to obtain in-house financing from a small sports shop, or is my employment situation having a greater effect on my ability to obtain financing?