Any Idea How Much Credit Carb Debt Will Raise C&F Flags?

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
Anonymous User
Posts: 273139
Joined: Tue Aug 11, 2009 9:32 am

Any Idea How Much Credit Carb Debt Will Raise C&F Flags?

Postby Anonymous User » Sun Oct 30, 2011 8:11 pm

Does anyone know generally how much credit card debt will raise C&F flags? I have heard that using a maximum of 30% of your available credit is the best for your credit score, but how much consumer debt can one have before it raises C&F issues?

I'm currently using about 50% of my available credit, but using some of my expected tax return will bring me to 30%. If I get my tax return sometime in February and pay off my credit cards, will using 30% of my available be alright to pass C&F?

User avatar
Ty Webb
Posts: 517
Joined: Mon Nov 23, 2009 10:47 pm

Re: Any Idea How Much Credit Carb Debt Will Raise C&F Flags?

Postby Ty Webb » Sun Oct 30, 2011 8:47 pm

Christ, this thread.

You're applying to practice law. You're not applying for a home loan.

User avatar
Kabuo
Posts: 1114
Joined: Tue Aug 31, 2010 8:53 am

Re: Any Idea How Much Credit Carb Debt Will Raise C&F Flags?

Postby Kabuo » Sun Oct 30, 2011 8:57 pm

lol'd at carb.

BeautifulSW
Posts: 581
Joined: Fri Jul 09, 2010 11:52 am

Re: Any Idea How Much Credit Carb Debt Will Raise C&F Flags?

Postby BeautifulSW » Sun Oct 30, 2011 9:03 pm

In general, the issue will be whether you are keeping current on all outstanding debt including student loans, taxes, and most important, child suppport.

If you are delinquent, you may end up negotiating some sort of agreement with the Bar to "pay as agreed" for (usually) six months. Some states grant conditional admission (I'm told) but others are less reasonable. If you undertook very large student loans at a time when you were having trouble servicing existing debt, that might raise a significant flag.

There is a surprising amount of research and information out there on C&F issues including some case law. State Supreme Courts often publish opinions that can be very helpful. As always, start with the state you intend to practice in.




Return to “Legal Employment”

Who is online

The online users are hidden on this forum.