Does a person need good credit to open a "line of credit"?
My friend who is on disability for having a bad back. For some reason he receives a monthly check (Social security Income) He should of had Social security disability income. Some how it got into the wrongs hands of people and he only gets half of what people on SSDI.
He received a letter from his bank. Telling him he can open a line of credit from his bank. The maximum he can borrow is $12,000. He spends most of his monthly check on stupid stuff. He has a tablet and a drone on lay-away at some pawn shop/ Then he is going to try to sell it later on.
For some reason he has his mind on a travel camper. Which he can not afford because of his income. He thinks if he gets approved for the line of credit (12,000) He will use that on a down payment. He has no transportation. He was in an accident with a lady two yrs ago. The cops found an open beer bottle and he refused a sobriety test. So the state suspended his license. It will cost him 750.00 to get them back