beergut
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Post by beergut on Dec 23, 2015 2:17:22 GMT -5
I honestly thought I answered your question about the interest rate, I think YM ate it? Interest rate is 17.99%. As for the set sum amount, I asked her once long ago about that. She said she likes the current arrangement, and doesn't want to change anything. Ok, I don't know what a "frozen" credit history means. My husband froze his credit report, but that was to keep anyone from opening new accounts. It has no effect on his credit score. She has been in Credit Hell if she has a 17.99% interest rate. That isn't the result of a frozen credit history. That is a result of missed payments, etc. As others have said, her mortgage alone would ensure she still has a credit history. Was this just that she didn't shop around. WhenI bought my first house after the divorce, I did some online thing and they offered me 7.99% VARIABLE. I got a 7% fixed when I applied to a real mortgage company. As I understand it, her credit was bad before she had her history 'frozen'(which AFAIK means only that new accounts can't be opened). I saw the report they ran at the dealership, and it said no credit history. She told me her credit was bad early on in our relationship. She hasn't used a credit card since we've been dating, always using a debit card or cash. The first deal they wanted to offer her was at 24.99%. They said it was because they showed no credit history. I laughed and said 'no'. They said her job history (same job for 15 years) and mortgage payment history gave her something to work with, so they offered her this deal. She liked the payment, so done. Now maybe you can understand why I want to find a way to pay it off early.
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beergut
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Post by beergut on Dec 23, 2015 2:27:22 GMT -5
I am well aware that I called you oversensitive, and meant it when I said it. If you think a thread in which I directly state, "I'm not attacking you", is still an attack on you, you are oversensitive, or you're looking for something to be offended by. I am not going to apologize for your need to play the victim. This feels like Talladega Nights and if someone says "With all due respect" they can then say whatever they want with no judgment on their comments. Sorry beer, still feel sorry for you, but I genuinely hope you wake up someday to what other people perceive you as and you can find happiness. Good luck to you. I wake up in the morning, I piss excellence. I hope 8 lb 6 oz baby Jesus gives you a thicker skin, so you don't get offended by everything on the Internet.
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Post by The Walk of the Penguin Mich on Dec 23, 2015 2:27:57 GMT -5
MJ, this is an ongoing matter. I'm not sure if you have followed other threads on this topic? For myself, when questions are asked like, 'Beer, what is wrong with/what do you have against giving her a set sum every month and seeing how she works with an actual opportunity to budget"... And it NEVER gets answered.... When you ask 'what is the interest rate?'... And it NEVER gets answered.... I honestly thought I answered your question about the interest rate, I think YM ate it? Interest rate is 17.99%. As for the set sum amount, I asked her once long ago about that. She said she likes the current arrangement, and doesn't want to change anything. I don't get this. Freezing your credit should have NOTHING to do with your credit rate or score. TD's is frozen, and he gets really decent rates. You have to unfreeze (and pay) to get credit, I think he said it is about $40. He recently unfroze to buy the STi (used) and I think it is around 2%. Her frozen credit has likely nothing to do with the rate she got. ETA.....I see that she had lousy credit before then. I'm guessing that her cards were shut down involuntarily, that her frozen credit wasn't a voluntary action on her part to keep others from opening up lines of credit in her name.
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zibazinski
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Post by zibazinski on Dec 23, 2015 5:58:39 GMT -5
I had forgotten she even has a father. Part of me thinks he's glad there's someone else bailing her out so he can close his wallet. The other part of me thinks he must be so ashamed of her and her choices. Perhaps it's time for her to start cutting expenses and live on what she's earning as opposed to still trying to live a two paycheck lifestyle on one paycheck and give herself and her kids everything she feels they would have had if she was still married with another income coming in.
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andi9899
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Post by andi9899 on Dec 23, 2015 7:48:33 GMT -5
If she is so incapable of buying a car, why did you let her go to the lot alone? Why not take control of that too? And if she really agreed to a car loan without knowing the terms, then whatever terms are in the note, she should just deal with. And did she not already have auto insurance? Are you also saying that she is incapable of calling the insurance company and processing a vehicle change? Good thing you're around to "rescue" her all the time. I was at the lot with her. She isn't incapable of anything, she is just a little too receptive to a good sales pitch. I know that you don't like men, and like to paint us all as control freaks, but that isn't reality. Check your misandry. She was told a payment amount she could afford, she didn't delve any deeper than that. She gave me the insurance paperwork because I wrote her auto policy. Sorry to destroy your 'white knight/controlling jerk" narrative. If you are such a great negotiator and an expert at car buying as you suggest, wouldn't you have looked at the paperwork with her if you were there? And are you her insurance agent? I don't remember what it is that you do. I didn't think it was insurance agent though. I guess I could comb your other threads for information, but I don't care that much. And contrary to what you believe, I don't hate men. My best friend is a man and he will tell you that I am one of the guys just like him only much prettier. I also date men and have no trouble attracting one. So maybe you should try fixing what's wrong with your situation or just accepting it instead of thinking you know so much about others. You know what is said about assumption.
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andi9899
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Post by andi9899 on Dec 23, 2015 7:58:13 GMT -5
Ok, I don't know what a "frozen" credit history means. My husband froze his credit report, but that was to keep anyone from opening new accounts. It has no effect on his credit score. She has been in Credit Hell if she has a 17.99% interest rate. That isn't the result of a frozen credit history. That is a result of missed payments, etc. As others have said, her mortgage alone would ensure she still has a credit history. Was this just that she didn't shop around. WhenI bought my first house after the divorce, I did some online thing and they offered me 7.99% VARIABLE. I got a 7% fixed when I applied to a real mortgage company. As I understand it, her credit was bad before she had her history 'frozen'(which AFAIK means only that new accounts can't be opened). I saw the report they ran at the dealership, and it said no credit history. She told me her credit was bad early on in our relationship. She hasn't used a credit card since we've been dating, always using a debit card or cash. The first deal they wanted to offer her was at 24.99%. They said it was because they showed no credit history. I laughed and said 'no'. They said her job history (same job for 15 years) and mortgage payment history gave her something to work with, so they offered her this deal. She liked the payment, so done. Now maybe you can understand why I want to find a way to pay it off early. I buy a new car every 2-3 years and have never had a dealership print a copy of a credit report and show it to me. And even with no credit, which I'm sure is not true if she has a mortgage, she should still get a better rate than that. I guess I get to be the first one to call troll. Too much just doesn't add up.
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andi9899
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Post by andi9899 on Dec 23, 2015 7:59:52 GMT -5
This feels like Talladega Nights and if someone says "With all due respect" they can then say whatever they want with no judgment on their comments. Sorry beer, still feel sorry for you, but I genuinely hope you wake up someday to what other people perceive you as and you can find happiness. Good luck to you. I wake up in the morning, I piss excellence. I hope 8 lb 6 oz baby Jesus gives you a thicker skin, so you don't get offended by everything on the Internet. Obviously not if you let your girl sign a note with 17% interest on a car. Especially if you were at the dealership with her.
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wvugurl26
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Post by wvugurl26 on Dec 23, 2015 8:08:12 GMT -5
When I bought in February 2014 they just showed me the fico score. It wasn't hardly YM territory (693) and I still qualified for the 0.90% rate. I guess it's different with used cars.
At that rate it would be worth shopping some credit unions and banks to find a better rate. Also she needs to look into repairing that credit score. Like it or not that affects everything you do. I get that maybe she's the type lacking control with CCs and chooses not to have them but she's continuing to hurt herself with that credit score.
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zibazinski
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Post by zibazinski on Dec 23, 2015 8:12:14 GMT -5
I wake up in the morning, I piss excellence. I hope 8 lb 6 oz baby Jesus gives you a thicker skin, so you don't get offended by everything on the Internet. Obviously not if you let your girl sign a note with 17% interest on a car. Especially if you were at the dealership with her. "Girl" is the key word here. A mature WOMAN lives within her means and if that means she cannot afford cars for her children, then that's what it means. Just because a child ages into 16 does not mean they get a car along with their license. She's living a lifestyle she cannot afford without some "person" be it daddy or the latest boyfriend to prop her up. Not smart decisions even now.
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justme
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Post by justme on Dec 23, 2015 9:19:31 GMT -5
When I bought a used car I wasn't getting the 0 percent deals but it definitely wasn't near 17. I want to say it was 5 or so but my credit union gave me 3.
Don't they pull some type of credit score for your car insurance? Do wouldn't your agent see that?
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andi9899
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Post by andi9899 on Dec 23, 2015 9:35:15 GMT -5
There is an underwriting score on your insurance policy. It takes a ton of stuff into consideration including your credit to generate this score. Your agent will never see what your actual credit score is. Just what the computer determines what the underwriting score is.
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giramomma
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Post by giramomma on Dec 23, 2015 9:58:16 GMT -5
As for the set sum amount, I asked her once long ago about that. She said she likes the current arrangement, and doesn't want to change anything. Even when you guys are married? And, you've both talked about this arrangement for your marriage, and you both like it? For me, it doesn't make sense that you have talked marriage seriously, but haven't had real discussions about how finances are going to be when you get married. The other option is that you've got an agreement about how finances will be handled when you are married but just aren't sharing it. If it's the latter, maybe that's why you are so upset?
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TheHaitian
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Post by TheHaitian on Dec 23, 2015 10:38:49 GMT -5
As I understand it, her credit was bad before she had her history 'frozen'(which AFAIK means only that new accounts can't be opened). I saw the report they ran at the dealership, and it said no credit history. She told me her credit was bad early on in our relationship. She hasn't used a credit card since we've been dating, always using a debit card or cash. The first deal they wanted to offer her was at 24.99%. They said it was because they showed no credit history. I laughed and said 'no'. They said her job history (same job for 15 years) and mortgage payment history gave her something to work with, so they offered her this deal. She liked the payment, so done. Now maybe you can understand why I want to find a way to pay it off early. I buy a new car every 2-3 years and have never had a dealership print a copy of a credit report and show it to me. And even with no credit, which I'm sure is not true if she has a mortgage, she should still get a better rate than that. I guess I get to be the first one to call troll. Too much just doesn't add up. I have, the first time I was buying a car at 20 did not enough credit history. They printed it and asked me if I could get a co-signer. I did not want anyone involve so took the 9% interest rate, refinance 1 year later to 6%, then paid it off early. So I would not call him a total liar. When we bout my wife car (and financed it) the finance manager told her that her credit report came back with a score of 750 which made her fall in the top so she qualified for the 0.9% rate. I am sure we could have asked her to print it and she would have. For our mortgage every time he pulled our credit he mailed us a copy of it...
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TheHaitian
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Post by TheHaitian on Dec 23, 2015 10:41:32 GMT -5
I wake up in the morning, I piss excellence. I hope 8 lb 6 oz baby Jesus gives you a thicker skin, so you don't get offended by everything on the Internet. Obviously not if you let your girl sign a note with 17% interest on a car. Especially if you were at the dealership with her. Why not? Because I had a friend that tried to be the savior and save his girlfriend from terrible debt... Guess what? He is paying 20k credit card debt back in his name since they broke up. It would have been smarter for him to pull a "beergut"; let her keep the bad interest rate and help her come up with a plan to pay the debt down faster accomplishing 2 things: - debt going down - better credit rating. 12 months of good diligent payments she can probably refinance to a lower rate; price of having bad or no credit.
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Deleted
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Post by Deleted on Dec 23, 2015 10:41:47 GMT -5
9% ok... But 17? 24? ... Has anyone ever had a reputable dealer offer them those rates?
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swamp
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Post by swamp on Dec 23, 2015 10:43:39 GMT -5
9% ok... But 17? 24? ... Has anyone ever had a reputable dealer offer them those rates? No.
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TheHaitian
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Post by TheHaitian on Dec 23, 2015 10:46:15 GMT -5
9% ok... But 17? 24? ... Has anyone ever had a reputable dealer offer them those rates? I work retail... 50% of my workforce are offered those terrible rates from "buy here pay here" dealers. It is expensive to be poor with bad credit. What do you mean by reputable? Because the reputable ones are usually the slimiest of the bunch, they just know how to screw you over without you feeling it too much: 6-7 years financing, balloon payments at the end, whatever they got to do to get you in that car.
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midjd
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Post by midjd on Dec 23, 2015 10:49:29 GMT -5
None of the buy-here pay-here dealers around here seem to sell 3yo Hondas. Their interest rates are in the 17% neighborhood, but it's (in part) because these are vehicles that don't usually qualify for traditional financing.
Surely she can refinance that loan somewhere else, bad/no credit or not.
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TheHaitian
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Post by TheHaitian on Dec 23, 2015 10:54:08 GMT -5
By the way beergut : credit karma! Free and so far we have used it for 3 years (when we got serious with house hunting) and we like it. We have the app on our phones, easy peasy to check! Just checked now: 718 and 720 Still don't get how my wife has more debt than me yet a better credit than me!
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TheHaitian
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Post by TheHaitian on Dec 23, 2015 10:56:28 GMT -5
Also just wanted to add after mortgage buying and financing a car within the same year... Our credit scores from those places usually come back 20-30 points higher than credit karma which is a "good thing" in my book, they are being conservative on how they calculate it.
Suggest that to her, work on that credit!!!
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justme
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Post by justme on Dec 23, 2015 11:00:17 GMT -5
I don't know of any dealership that's not a but here pay here that has those high of rates. Like I said my bro has bad marks on his credit and still got 5 percent from carmax and a Nissan dealership, carmax was a used car.
If it was a buy here pay here that beer took her to is kind of crappy to then been omg you need to pay down that high interest rate now.
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andi9899
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Post by andi9899 on Dec 23, 2015 11:18:27 GMT -5
Obviously not if you let your girl sign a note with 17% interest on a car. Especially if you were at the dealership with her. Why not? Because I had a friend that tried to be the savior and save his girlfriend from terrible debt... Guess what? He is paying 20k credit card debt back in his name since they broke up. It would have been smarter for him to pull a "beergut"; let her keep the bad interest rate and help her come up with a plan to pay the debt down faster accomplishing 2 things: - debt going down - better credit rating. 12 months of good diligent payments she can probably refinance to a lower rate; price of having bad or no credit. I recall that story and I'm sorry to say, that was just a stupid move on your friend's part. I could see if they were married him taking on her debt to help her pay it down, but that's a big maybe. No way should you do that for an SO.
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andi9899
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Post by andi9899 on Dec 23, 2015 11:35:20 GMT -5
9% ok... But 17? 24? ... Has anyone ever had a reputable dealer offer them those rates? I work retail... 50% of my workforce are offered those terrible rates from "buy here pay here" dealers. It is expensive to be poor with bad credit. What do you mean by reputable? Because the reputable ones are usually the slimiest of the bunch, they just know how to screw you over without you feeling it too much: 6-7 years financing, balloon payments at the end, whatever they got to do to get you in that car. A good car dealer is really worth their weight in gold. I have one that I refer people to all the time. He will bend over backwards for my clients and they are always happy with him. I have even had him call people back and ask if they can come back and fill out new paperwork because he found a lender who offered a better interest rate. If I drove American cars, I would definitely buy from him.
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Post by The Walk of the Penguin Mich on Dec 23, 2015 11:49:45 GMT -5
9% ok... But 17? 24? ... Has anyone ever had a reputable dealer offer them those rates? Yeah.....back in the 1980s. I think my first car was financed at 17% in 1985 or so. I had little credit history, but didn't need a cosigner. That car got stolen, next car financed at 12% (following year). Sold that car, bought next one in 1991 at 6%. Next 2 cars were financed at 1.9% and 0.9% (used and new, respectively).
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Deleted
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Post by Deleted on Dec 23, 2015 14:01:02 GMT -5
Well in the 80s sure. I think my moms mortgage wa like 9% back then...
Texted her, their mortgage back then started at 11.5 variable down to 9...
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8 Bit WWBG
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Post by 8 Bit WWBG on Dec 23, 2015 14:46:22 GMT -5
This topic always gets emotionally charged. Let's all keep control of our feelings and stick to the constructive side of the coin.
I've given up trying to "teach", and ever since I have, I feel like DW is coming to certain decisions "on her own" which are benefiting the team. It's been hard because I believe that we can do better, and I know she KNOWS that we can do better and that certain decisions will not put us as far ahead in the long term. But I'm trying to accept that she sees the short term with the same kind of reverence with which I see the long term.
I empathize with beergut's frustration though -- it is very hard not to believe we see things clearly than people who are in the thick of them. I'm sure he figures that sooner or later, there will be another money shortage and they will be right in the thick of their usual argument. He'll be frustrated because he'll feel like it was so obvious and could have been avoided. But she has her own values at play, and failing to take those into account don't help matters. Then I bet you just spend most of the discussion debating why each of your own values are the right ones, instead of dealing with the actual problem together. That too seems obvious, but is very hard to deal with when you are in the thick of it.
I don't have any experience with "no credit". Though mine was certainly short when I bought my first car, it was hardly blank. Not sure whether your gf wants to try and repair her credit, or what options are available for doing so. I hope it works out for you.
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Blonde Granny
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Post by Blonde Granny on Dec 23, 2015 16:48:34 GMT -5
It seems as though the GF has no intention of doing anything that could help her financially. Frankly, why should she? Beer rides in on his white horse and once again (for whatever reason) saves her from certain disaster. Whether it's no money for the kids, no money to buy the kids a car, vacations, Kitchenaid mixer or whatever her heart desires. After he saves the day, he comes here to complain that she just doesn't get it and she won't do what he says.
This is simply a disaster looking for a place to happen, and neither of them look in the mirror long enough to see they (not the other person) are the ones responsible for this mess and this impasse. In the meantime, she has herself a sugar Daddy, and he's sleeping in her bed with good benefits, and pays few if any of the household bills. What a deal!
Furthermore, this is a great example for teenage kids.......not!
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zibazinski
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Post by zibazinski on Dec 23, 2015 19:51:36 GMT -5
My DD was always grateful I didn't do anything like that while she was still in the family home. She had friends whose moms did.
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beergut
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Post by beergut on Dec 24, 2015 1:16:34 GMT -5
As I understand it, her credit was bad before she had her history 'frozen'(which AFAIK means only that new accounts can't be opened). I saw the report they ran at the dealership, and it said no credit history. She told me her credit was bad early on in our relationship. She hasn't used a credit card since we've been dating, always using a debit card or cash. The first deal they wanted to offer her was at 24.99%. They said it was because they showed no credit history. I laughed and said 'no'. They said her job history (same job for 15 years) and mortgage payment history gave her something to work with, so they offered her this deal. She liked the payment, so done. Now maybe you can understand why I want to find a way to pay it off early. I buy a new car every 2-3 years and have never had a dealership print a copy of a credit report and show it to me. And even with no credit, which I'm sure is not true if she has a mortgage, she should still get a better rate than that. I guess I get to be the first one to call troll. Too much just doesn't add up. Call troll all you want, I'm telling you exactly what happened. They handed her the paperwork after running her credit report, and it said no credit history.
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whoisjohngalt
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Post by whoisjohngalt on Dec 24, 2015 1:28:14 GMT -5
MJ, this is an ongoing matter. I'm not sure if you have followed other threads on this topic? For myself, when questions are asked like, 'Beer, what is wrong with/what do you have against giving her a set sum every month and seeing how she works with an actual opportunity to budget"... And it NEVER gets answered.... When you ask 'what is the interest rate?'... And it NEVER gets answered.... I honestly thought I answered your question about the interest rate, I think YM ate it? Interest rate is 17.99%. As for the set sum amount, I asked her once long ago about that. She said she likes the current arrangement, and doesn't want to change anything. I knew it!!! And it makes perfect sense.
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