Millions of Americans are seeing their credit scores suffer now that the U.S. government has resumed referring missed student loan payments for debt collection.
Fuck credit scores. I am older than credit scores.
They’re a big step up from the previous alternative, that was rife with racism, abuse, and good-ole-boy advantage.
Why not neither?
Lets get rid of our credit scores and the racism, abuse, and good-ole-boy advantage.
None of it is necessary. None of it is needed.
One of them kind of is necessary.
If you don’t have some kind of “objective standard” to decide who gets a loan or not, you’re at the whims of the loan officer sitting in front of you; Including all the bias they (knowingly or not) bring to the table.It’s wanted. By the loan industry. It isn’t necessary.
That doesn’t address my comment at all.
So you want nobody to get loans?
Some people are overly idealistic and overly cynical, but under-experienced.
When everybody’s credit scores are shit, nobody’s credit scores are shit. I learned that in 2008 after the housing crash.
In CA, most of the property mgmt places require high credit scores to rent. So not only will they be in a mount of debt that has come due, they could also be homeless.
I doubt a renter in good standing would be kicked out of an existing apartment even at lease renewal. However, if the renter has to get new housing in the future your point is valid.
