If all of the defaults occurred >7 years ago and there’s been no credit activity since the individual would have no credit score because of no credit history. I know this because I’ve literally seen it happen. What you do then is apply for a secured credit card (basically you pony up some cash to secure an extremely low credit limit) then after you’ve established a payment history and a credit score you can move on from there. As far as I know financial institutions do not take into account one’s felon status when determining elgibility
Comment on Crypto genius
Wogi@lemmy.world 11 months agoYou will also be unable to take out any debt upon release. It’s difficult to get credit as a released felon without a history of defaulting on debt.
So, being generous and saying that he sees a 4% return on his investment, he’ll have slightly more than he went in owing, and will be completely unable to even get a car loan, a decent job, or place to live.
He will have turned 0 dollars in to a lifetime of hardship.
Trainguyrom@reddthat.com 11 months ago
Serinus@lemmy.world 11 months ago
One thing I can say definitively about crypto: It will not see a 4% roi.
Sotuanduso@lemm.ee 11 months ago
Correction: He will have turned 0 dollars into a lifetime of hardship and a few hundred dollars.
TseseJuer@lemmy.world 11 months ago
where do i sign?