Bonneville Phoenix Network
 KTAR News
 Arizona Sports
Latest News
Updated Aug 28, 2013 - 6:24 am

Credit counselor: Doubtful companies use Facebook to check finances

PHOENIX -- You might want to watch who you friend on Facebook because creditors are watching.

Two technology companies said they can find out if your Facebook friends have bad credit, and that your association with those people lead a potential lender to think that you are just as much of a credit risk as they are, which could prevent you from getting a loan.

Lenddo and Kreditech, two financial companies who claim they can use Facebook to check credit, said they can use "massive computing power" to check out your friends and determine your credit worthiness.

Mike Sullivan of the Take Charge America credit counseling service said the companies' claims are possible, but he doesn't think you should worry about it.

"That kind of guilt by association strikes me as a bit of a stretch," he said. "I really don't see it. I can't believe that that's a very important factor for very many people."

Sullivan thinks the Facebook threats are nothing more than a publicity stunt.

"I had never even heard of them. My guess is they're thinking is that this is a good way to get some attention."

Sullivan believes banks and other lending institutions will keep using legitimate credit reporting agencies to check out your credit and decide whether to give you a loan.

About the Author

Years with the company: I started on January 2, 2006.

Education: I was born in San Antonio, Texas, but we moved to Phoenix when I was one-year-old in 1957. I grew up here and graduated from Alhambra High School and attended Phoenix College.

Family: I live in north Phoenix with my wife Rene' and my son Devin.

Favorite food: Lots of favorite food, but our favorite restaurant is Fajitas.

Favorite spot in Arizona: The Little America Hotel in Flagstaff.

Favorite news memory: We have to go back to October 15, 1979. I was a country music air personality at KROP Radio in Brawley, California, when we had a 6.7 earthquake. Thankfully, there were no deaths and only minor injuries, but the entire community was pretty freaked out and listening to the station on their transistor radios. I would not want to go through an earthquake again, but it sure was a great night to work in radio and see how it can make a difference in people's lives.

First job: Working as a stringer for 'The Arizona Republic' at high school football games. My first real job was flipping burgers at the old Sandy's Hamburgers at 51st Avenue and Indian School Road. My first radio job was as announcer at KALJ radio in Yuma in 1977.

First concert: My Dad took me to see Jimmy Dean at the Arizona State Fairgrounds in the 1960's. It was before the Coliseum was built. The only thing I remember is Jimmy Dean singing his big hit "Big Bad John."

Favorite sports team: Phoenix Roadrunners minor league hockey. My dad took me to a game when I was in grade school, and I was hooked. I wanted to be a radio hockey play-by-play man. I used to take my cassette recorder and sit up in the rafters of the Coliseum and do play-by-play. It was great later in life to also take my son to Roadrunners games. Too bad the team just folded, I'll miss them. (Going to the Coyotes is fun, but they're not "my" team.)

Outside interests: My family and I are active in our church - Shiloh Community Church in Phoenix. Devin is a high school student at Scottsdale Christian Academy. He plays on the baseball, football, and basketball teams and sings in the choir. Obviously, we keep busy trying to go to all his events! We enjoy going to movies, sporting events, and long road trips. We like to vacation at the Beach Cottages in the Pacific Beach area of San Diego. And I love to play catch, basketball, football with my son.


comments powered by Disqus
Latest News