Low Credit?

Pokebreaker

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I have decided that I'm going to buy a Motorola Droid, but I'm having trouble because our credit is low and the kind workers at the Verizon store say they need a $400 down payment as insurance? So I sold my iPhone and PS3 just so I could get this phone, but the thing is I don't know if it's worth all that I've lost and if we can afford the rest of the two year contract. So my question is should I only go with the data plan for internet or ask for a lower down payment?

BTW the $400 that they want is for the phone and other accessories/plans which is usually only around $230 all together.
In my opinion, you should sit down and do some calculations on the point you made about being able to afford the two year contract. If you have Low or Bad credit (whichever it may be), not being able to pay your monthly bill at any point in time could/will adversely effect your credit, making your bad credit worse or your low credit bad. Of course things can be worked out with the company, but you shouldn't go into a contract without knowing that you can sustain the payments.

Do your math on the payments and what you can afford, then make your decision. Don't get in over your head and mess up whatever credit you do have. FYI, just a 30 day delinquency takes about 7 years to come off of your credit report.
 

Vulcan1600

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If you really want the Droid, want to be responsible, dig yourself out of some of the credit woes, you know that if you pay on time for the next 12 months, that $400 you put down will be given back to you with interest. So, if you really want the Droid, really want to be responsible, then make the investment and prove yourself worthy.
 
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PWN3R

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Thanks for all the advice guys. I did get paid today and got my SS check which in total brought in around $650. BTW if you guys were wanting to know what my credit score it's (in between 5 and 6 hundred) So I'm probably going to save a little bit of it and spend the rest on food for the family. But thanks for the great help.
 

svttech76

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Thanks for all the advice guys. I did get paid today and got my SS check which in total brought in around $650. BTW if you guys were wanting to know what my credit score it's (in between 5 and 6 hundred) So I'm probably going to save a little bit of it and spend the rest on food for the family. But thanks for the great help.


Yeah I think it's 600 or 620 when they start to ask for a deposit.


if this is 400 on top off the 199 phone that only leaves with you 50 bucks of your pay and SS left for other more important things..

Are you really sure you should be getting a droid?
 
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