Worth is right, but usually that lousy deal he's talking about comes from in-store financing. Department stores, home improvement warehouses, and jewelers are all notorious for it.
I worked with a lot of credit reports when I was a mortgage broker in Florida. I finally had to ask my boss, "Who is this JARED guy, and why does everyone owe him money?" Apparently a lot of people finance rings, and then stop making the payments when the relationship sours.
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