Ranger7374 Loc: Arizona, 40 miles from the border in the DMZ

Okay, I understand that honest mistakes and mistakes of circumstances can occur, but the culture in America is turning into an unforgiving society.

Take for example the credit bureaus. Say you get a loan for a car and you lose your job and are unable to pay for it. There is no legal way to get out of the debit. The loss of your job was not your fault. You lost your job for reduction and n force. So now you can't travel to find another job.

Soon this person couldn't pay his rent and ended up evicted. Then good fortune hits this particular person and he gets a good job and pays off his past debts and applies for a car loan. He gets the loan but it's a high interest loan.

Now he wants a place to live but no apartment nor no realitor will touch him. Then he has an opportunity to buy an RV and use it as temporary housing. But because his credit was hit with a repo and eviction he is denied.

Now I ask all of you, what is this person to do? Once in debt, even if the debt is paid off, is still for all time punished for losing his job, that he.is not to blame for. Years pass by and say 15 years pass and the credit bureaus still show the old debt. What do you do then?

So is the credit system discriminating financially this guy?

I think they are but that is my opinion. What do you think?

Kevyn

Credit reporting agencies are repugnant. They destroy peoples lives.

Canuckus Deploracus Loc: North of the wall

Neither a lender not a borrower be...

The entire system is corrupt and sickening...

RascalRiley Loc: Somewhere south of Detroit

The world might be a better place today if credit was only ever used for emergencies.

Unfortunately we are no longer wired that way.

Milosia2 Loc: Cleveland Ohio

It is a s**m , and Biden was right to want it abolished.
Once they have everyone on the wire with bad credit , they can charge higher interest rates.
They key to this is to give everyone bad credit. They accomplish this by doing several questionable things. For every bank that pulls your credit file ,
you lose 10 points.
So if you’re say looking at cars every dealer wants to get your credit rating and you wind up hemorrhaging good credit. At 10 points per pull. Buying a house, same thing.
When you finally decide to buy , you find out your credit has this giant investigative hole in it. So , yep you’re going to need to pay more. All this when money for banks has been at its lowest in a billion years.
A win win for Lenders. The lowest money rates in years but available only to people who don’t need the money.
Elizabeth Warren has been all over this.
She was instrumental in forming the CFPB
And she has forced them to return an astronomical amount that was illegally taken. She is a Feared Woman on wall st.

Canuckus Deploracus Loc: North of the wall

Speak for yourself

AuntiE Loc: 45th Least Free State

Finally, after eight years, you have posted an accurate comment.

AuntiE Loc: 45th Least Free State

There are so many inaccuracies in your comment it is appalling.

EmilyD

I'm thinking she's just a bad manager of money, and her credit sucks. Most people with good credit don't run into those "problems" - even in this trashed economy.

RascalRiley Loc: Somewhere south of Detroit

I was thinking government, invistaructute that will need to be replaced before it is fully paid for. Credit in general. The world would be a different place.

Canuckus Deploracus Loc: North of the wall

True

Milosia2 Loc: Cleveland Ohio

You didn’t name any .

Milosia2 Loc: Cleveland Ohio

A cat in a bunny costume is Appalling.

nonalien1 Loc: Mojave Desert

[quote=Canuckus Deploracus]Neither a lender not a borrower be...

The entire system is corrupt and sickening...[/quote

]Yup I agree. If I were to buy a new car today they would charge me more for it then they would a rich guy and they would get a better interest rate. Discrimination no two ways about it. And when you sign your name on it it becomes a used vehicle so you can't even sell it back for what they charged you for it . They get you coming and going. That's life and why I'll never buy a new model auto. I'd rather drive a 34 Ford anyway . It won't lose value unless it's wrecked and it don't look like everything else on the road

Ranger7374 Loc: Arizona, 40 miles from the border in the DMZ

We all know that the system is corrupt but why does no one do anything about it? Is it true what Jefferson says when he writes

all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future.

Does this mean that a peaceful solution can never be found and we are in an eternal battle for what is right and we allow ourselves to endure this evil?

If this is the case then give me liberty or give me death. If this is not the case then let's forgive each other the sins we are all guilty of. Republicans and Democrats all believe that the credit system is not only broken but corrupt so why not come together by forgiving one another? What a novel idea! But no one will do it because of the aforementioned principles above how sad!