Credit scores drop at fastest pace since the Great Recession
Submitted 2 days ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
https://www.cnn.com/2025/09/16/economy/debt-credit-score-student-loans
Submitted 2 days ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
https://www.cnn.com/2025/09/16/economy/debt-credit-score-student-loans
meejle@lemmy.world 2 days ago
Credit scores are meaningless. I’m currently under an Individual Voluntary Arrangement (IVA) because I lost my jobs and couldn’t pay back my debts.
It’s literally a court order that, among other things, says I’m not allowed to take out any credit without permission, or move house without permission, until the end of the 7-year IVA. I have to give all my available income to a company and they divide it up between my creditors.
So, literally a “this man can’t be trusted to manage his debts” contract.
And yet! My credit score keeps going up and up. I’m now substantially above the UK average.