Madeline
Rookie
- Banned
- #61
You folks are being a bit dim IMO. here are some ways you might have a crap credit rating and thus, be unemployable, uninsurable, etc.:
* You could have an unpaid utility bill from college, nothing else, and generate a credit rating of 600. All available data suggests you are a bad risk, correct?
* You could have paid cash for everything you have bought in the previous ten years. Since you have not borrowed, you have also not repaid...and thus, you are a "bad risk".
* You could be less than 18 years old and have suffered identity theft, not know it, have parents who did not protect you, and be fucked before you ever leave home. Or over 18, and did not catch on in time.
* You might have declared bankruptcy due to job loss or catastrophic illness or both (about 95% of all personal bankruptcies fall in this class). Your credit rating will hover near 600 for the next 10 years.
* You might have cosigned a loan for someone who defaulted. Even if you knew they had stopped paying, you might not have been able to service the debt. The number one scenario here is a child's student loans.
Tell me, which of the above do you find to be "morally deficient"? Which ones should suffer being locked out of middle class life?
I think MarcATL is 100% correct....except I also think far too many Americans will have shit credit ratings for employers, etc. to be able to maintain their high standards.
* You could have an unpaid utility bill from college, nothing else, and generate a credit rating of 600. All available data suggests you are a bad risk, correct?
* You could have paid cash for everything you have bought in the previous ten years. Since you have not borrowed, you have also not repaid...and thus, you are a "bad risk".
* You could be less than 18 years old and have suffered identity theft, not know it, have parents who did not protect you, and be fucked before you ever leave home. Or over 18, and did not catch on in time.
* You might have declared bankruptcy due to job loss or catastrophic illness or both (about 95% of all personal bankruptcies fall in this class). Your credit rating will hover near 600 for the next 10 years.
* You might have cosigned a loan for someone who defaulted. Even if you knew they had stopped paying, you might not have been able to service the debt. The number one scenario here is a child's student loans.
Tell me, which of the above do you find to be "morally deficient"? Which ones should suffer being locked out of middle class life?
I think MarcATL is 100% correct....except I also think far too many Americans will have shit credit ratings for employers, etc. to be able to maintain their high standards.
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