Credit scores are a scam.
Americans could see their credit scores fall through floor soon
Submitted 2 months ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
https://qz.com/medical-debt-college-loans-credit-reports
Comments
NatakuNox@lemmy.world 2 months ago
JamesBoeing737MAX@sopuli.xyz 2 months ago
Well, they aren’t exactly optional.
NatakuNox@lemmy.world 2 months ago
They should be… They shouldn’t exist
Viking_Hippie@lemmy.dbzer0.com 2 months ago
🧑🚀🔫🧑🚀
Vanilla_PuddinFudge@infosec.pub 2 months ago
You need a high credit score for the home loan you’ll never get approved for. Duh!
LovableSidekick@lemmy.world 2 months ago
Based on past history, if people’s credit scores fall and it becomes more difficult to finance things, companies will lower their requirements because they want to keep selling things. They’ll simply charge higher interest and promote it all as a good idea.
orbituary@lemmy.dbzer0.com 2 months ago
As if there wasn’t enough evidence that this shit was a fucking racket before. Now, saddled with shit we can’t remove - student debt being the worst - we’re subjected to this new rating system.
Zanathos@lemmy.world 2 months ago
Sure seems they are doing their best to remove the possibility of any type of government forgiveness program that could come to be.
douglasg14b@lemmy.world 2 months ago
Nah medical that definitely is worse than student debt.
- It’s involuntary, your life and well-being hinges on your health
- It’s not a metric that determines credit worthiness. You didn’t explicitly go out and get a loan to borrow money for some endeavor like school
- It’s often cripplingly massive
- It often builds up over time and becomes unmanageable as individual debts often have to be paid individually and minimum payments overlap to create unsustainable monthly burdens (ie. $100/m over 18 providers = $1800/m)
orbituary@lemmy.dbzer0.com 2 months ago
Student debt is unforgivable.
return2ozma@lemmy.world 2 months ago
“There are 45 million people with student loan debt and 15 million with medical debt. It’s highly likely that there is some overlap there,” said Adam Rust, director of financial services for the Consumer Federation of America. “People are really facing a perfect storm here.”
HeyJoe@lemmy.world 2 months ago
To late, my credit is already screwed.
I find it funny that the guy who never paid people is all about penalizing people who can’t pay.
return2ozma@lemmy.world 2 months ago
How many bankruptcies has Trump had now? At least 10+
supersquirrel@sopuli.xyz 2 months ago
This is the point crash the economy and then use that to rationalize brutal austerity to centrists while selling the foundation of US society off to Oligarchs.
This is the US finally fully colonizing itself like a star that has run out of fuel to keep growing and now is beginning a process of collapse.
ivanafterall@lemmy.world 2 months ago
I’ve been going the opposite direction in my employment capacities: behaving “unfathomably” to these motherfuckers. What’s good for the goose and all.
SARGE@startrek.website 2 months ago
Become ungovernable.
MyNamesTotallyRobert@lemmynsfw.com 2 months ago
Always go out of your way to discriminate against these people. They will always, collectively, in unison do the same to you. They will show no mercy and give no quarter. Stop “being nice” because the enemy stopped “being nice” a long fucking time ago.
doingthestuff@lemy.lol 2 months ago
“We” will only accept it because they’ll mostly stay hidden. The worse it gets, the more Luigis there will be. Not me though. I fight for justice by feeding those in need. There are still many who are generous to those in need. For now. While we still have a tiny bit extra we can give.