Credit problem’s not just a middle class issue

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These are just a few of the terms you may read or hear in an ad for Bad Credit Auto Loans. Like you, I used to assume these ads were trying to appeal to lower to middle class(financially speaking) folks as you probably assume as well that credit issues are largely confined to these folks. Through my years of experience as a Finance Manager working at high end luxury dealerships like Audi, Lexus & Porsche I found there are a good many upper middle class & even wealthy folks who have credit issues as well. Like the middle class, wealthy folks sometimes suffer from bad timing. I once had my sons doctor come through my office at a high end dealership in the S.F. Bay Area & when it was time to disclose his credit score ( a federally mandated requirement ) I was shocked to see it was in the mid 500’s. He was a standup guy and a wonderful doctor to my son but had over extended himself on real estate leading up to the 2008 crash & when values declined precipitously he had to foreclose on multiple properties. Point is it can literally happen to anyone so lets not pass judgement.