# Surprise!  Your credit limit is only half of what you thought it was!

**URL:** <https://boards.straightdope.com/t/surprise-your-credit-limit-is-only-half-of-what-you-thought-it-was/443295>\
**Category:** Factual Questions\
**Created:** [March 30, 2008, 6:39pm UTC](https://boards.straightdope.com/t/surprise-your-credit-limit-is-only-half-of-what-you-thought-it-was/443295 "2008-03-30T18:39:28Z")\
**Posts on this page:** 1\
**Page:** 2

<div class="post-metadata">

**Author:** ![chela](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chela/32/21582_2.png) [@chela](https://boards.straightdope.com/u/chela)\
**Post date:** [April 1, 2008, 12:24am UTC](https://boards.straightdope.com/t/surprise-your-credit-limit-is-only-half-of-what-you-thought-it-was/443295/21 "2008-04-01T00:24:42Z")

</div>

[QUOTE=Lightnin’]  
There’s a whole lot of assumption in that sentence, there. You might want to look up “short sale”.

As I said, it’s not the slashing of my credit limit that I mind. It’s the _complete and total lack of any warning whatsoever_ that I find rather rude.  
[/QUOTE]

I did look it up just now, tell me if I have it wrong here. Short sales are a tool to avoid foreclosure by asking the lender to accept less than full payout for your mortgage when you sell the house. Your lender may forgive your debt (taxable income) or they may have you make monthly payments to pay back the loan. It is usually reserved for those in financial hardship and who have to prove to the lender they are not hiding assets.

[Previous page](https://boards.straightdope.com/t/surprise-your-credit-limit-is-only-half-of-what-you-thought-it-was/443295.md?page=1)