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Credit Countermeasures to Avoid Homelessness as an 18.1 Year Old

by Larry Chiang on December 29, 2013

By Larry Chiang 
I read

Ramit Sethi (@ramit)
Very interesting. Short read: “Thoughts from a homeless guy now that I’m back on my feet.”

Download the official Larry Chiang YouTube channel at YouTube Re ENGR145’s 

Please post the body of the Craig’s List content in the comments please
####  Credit countermeasure #1/ ##
There are people that use Craig’s List to systematize getting free rent. 
It is the “Lever the 18.1 year old with-virgin-credit maneuver”. This sad pattern I recognize works like this:
1) place ad asking for roommate
2- get roommate
3) switch lease to new roomie
4/ slowly default and know it takes 120 days to evict (or more)
5/ live rent free
6) Repeat. 
Lease agreement switched to the new roommate keeps one “on the hook” 
Do you want to be on the hook
### Counter #2 ###
Run credit reports and pays stubs on your new roommate(s)
Your credit score forms a symbiotic bond with so many things 
Please bond with my free blog posts. 
## Credit countermeasure THREE ##

“I’ve a brick in my check”

Wage garnishment is tough. It isn’t a deathnell, but it is tough. You’re going to have a augment the negative information with positive information. 

Treat the brick in your check as an F in school

Now, you’re gonna need 24 A’s to water down the damage of an F

##  Credit countermeasure #4 ##

Make small on time payments to an entity that reports to
– Trans Union
– Equifax
– Experian

Charge 14/15 bucks
Pay it off
Do it every month
Do it for 24 months

## Credit countermeasure 5 ##

Get a super low credit line if you don’t trust yourself 

## Credit countermeasure #6 ##

The Amex serve pre paid seems good. 

##  Credit countermeasure #7 ##

Credit makes you realize money is a horrible master but a wonderful servant. Since you have zero money, make credit your semi-servant. 

Credit scores are pretty static. This means they don’t change that much

Once it is good, it stays good
Once it goes bad, it is hard SUPER hard to fix

Forward engineer your credit card credit score

Reverse engineering is hard
Fixing credit is hard
(Credit) Virgins have it toughest 

High credit scores are sexy
Read Chris Peacock’s stuff on money and credit on CNN Money
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Emergency swings and cutting deals as an 9 year old
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