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There are so many people with perfect credit except for a medical emergency they got into with no insurance and of course was unable to pay the $100,000 per day they spent in the hospital. So their credit is forever ruined by no fault of their own.
No, it's 100% their own fault.
People of their own free will voluntarily forfeited their right to pay their hospital or doctor directly and negotiate payment plans with their hospital or doctor that would not adversely affect their credit when they made the brilliant decision to pay insurance companies thousands of dollars each year for the privilege of forfeiting their right to pay their hospital or doctor directly and negotiate payment plans directly with their hospital or doctor.
Wow, much anger in this post. But you know, I can't really blame you either.
The way I felt about the system is, its purposely set up against us. Most companies and finance companies know that we are on hard times and money has always been a constant challenge. Yet they don't really care because there are many heartless monsters when it comes to finances. So knowing this fact doesn't surprise me at all.
I have been through some rough times myself, maybe not in your case but I have been through there. And my credit score isn't that great either but you know what, who cares? I, for one refuse to let a credit score (or the number they use to determine how much to steal from your wallet thru interest and fees) rule my life. Because the way I personally feel about it, credit is merely nothing but convenience. While society believes you need credit to survive on this earth, I personally disagree on all counts. I definitely don't intend to slave my life over a lame fico score.
I don't have any credit cards, and I am perfectly fine with that. Doesn't bother me a bit. In fact, every purchase I have made was in cash, and if I didn't have it right away I saved for it. May have taken awhile but definitely feels good to know that its truly yours once paid for. And that includes cars. I recently told my mom that my next car I am paying cash for, since I detest car payments and the rotten finance companies.
Where you live makes a difference too. When I lived in MI, I had a two-bedroom apartment (well duplex mostly) with included washer and dryer and it was only $520 a month, which is nice, and it included a garage. Now that I am in Texas and a homeowner, my mortgage payment is about the same as my rent is. It all depends on where you live and its demographics. Alot of places in FL are expensive to live, especially near the cities.
And I agree with you, costs always goes up but the wages stay the same. Makes it challenging to live to where you just have enough to make the bare necessities. That's why it bugs me when I see people flock in droves like a high-profile drug to check out/buy the new iPhone that came out recently. Stuff that is totally unnecessary and only aims to draw money out of people that most likely can't really afford it.
But anyway back to the credit system, I personally don't care about credit. In fact, if I never even use credit for the rest of my life, I wouldn't even miss a thing. Society thinks we need credit, I don't think so. A person can have great credit scores and still get jacked over by credit card companies. In fact, my mom told me how the people with her Sears mastercard no longer wanted to renew her card because of some stuff on her credit report. And my mom had that card for several years and was never late, but she was still being charged 22% interest. My mom's response? Go ahead and close it, she didn't care, and she felt it was just time for her to stop using credit.
Don't let the credit system rule and take over your life. Many people have had health problems because of excessive worrying on their score. And trust me, those people don't give a care about you or your health. The only thing they care about is this: $$$$$.
No the secret is to use their money and services and then get money back by paying on time every time.Its like anyhting else if you don't take care of business then be prepared to pay.Credit by any standards is a loan but if you pay that loan off you can actually pay no interest and sometimes get money back on pruchases. Who else is going to loan you money for no interest for 30 days.
No the secret is to use their money and services and then get money back by paying on time every time.Its like anyhting else if you don't take care of business then be prepared to pay.Credit by any standards is a loan but if you pay that loan off you can actually pay no interest and sometimes get money back on pruchases. Who else is going to loan you money for no interest for 30 days.
It's so easy for you to say "Just take care of it or else be prepared to pay" but yet you speak as if we lived in a perfect world and nothing unexpected ever came up.
You can plan your finances all you want but you never know when life hits you. My gosh, this isn't something I just came up with...it's in movies, books, magazines, tv....everywhere...
Are most people on this board criticizing those that find this credit soring system unfair living in some sort of fantasy land?
Are you all perfect? with no jobs and unlimited money and perfect health?
Please get real...speak with intelligence not like ignorant people. You are all supposed to be so "financially smart" but yet you speak of as if you knew nothing about the economy, life, and money when they are mixed together.
I think this is a debate that will forever go on between the have's and the have-not's. The have's will not allow themselves to think that people start off with disadvantages, such as not being properly prepared and educated to deal with numbers that will affect your quality of life. These are perfect people in the perfect world, who have no sense of empathy or understanding that we are not playing on a level playing field, and never have.
I think this is a debate that will forever go on between the have's and the have-not's. The have's will not allow themselves to think that people start off with disadvantages, such as not being properly prepared and educated to deal with numbers that will affect your quality of life. These are perfect people in the perfect world, who have no sense of empathy or understanding that we are not playing on a level playing field, and never have.
I still can not understand how so many that seem perfectly capable of rational thought here could ever have gotten into such debt as they describe. Its almost as if they actually conned themselves into believing a fairytale.I see people who describe themselves in credit card debt almost equal to what they earn a year with no medical problems. I see people everyday that always have a car that is never over three years old. Often they have two and I know their income is lower middle class.These are not stupid people either ;they just seem to not be able to control their spending when its a credit card or vehicles.As long as they can make the minimum monthly payment they could careless what interest they are paying. I personally knew one that had like five cards that had 10'000 dollars on each. When I asked now it got so high he said eating out and taking trips mostly. He was lucky in that he and his wife decided to sale their home and with the profits paid off the cards.So while there mnaybe alot that don't undersatnds number there are also those that just live in a dream of conning themsleves until it at the breaking point.
oh yes issaic is so fair?who pays the money to these people?to report scores and credit info?does anyone know how it works.lower the score the more interest you pay when you go try to get credit.the higher the score the less interest you pay.who do we all pay interst to,banks banks banks..thats who makes the money.more then half of americans have low scores.it is all a big circle the scores the reports they are not for the consumer.go pay and old debt on your report go and try and make good on something on you report.it starts 7 yrs over again go and despute something wrong on you report and see how difficult it is to be corrected thats even if it ever gets corrected.we need a fair system in this country;by the time you try and repair your credit it take 20yrs to get charge offs colection off your report
For many reasons, but here is one that gets me:
You can have excellent credit if your score is between 750 and 850, a 100 point range.
You can have good credit if your score is between 660 and 749, a range of about 90 points.
You can have fair credit if your score is between 620 and 649, a range of only 29 points.
However you have poor and poor is a very strong word, credit if your score is between 350 and 619, almost 270 points!
How do the credit card companies get away with this stuff, along with all the other crap they get away with (like runing credit over unpaid/underpaid medical bills)?
Of course, I can hear the conservatives say, manage your own credit properly and you won't have this problem.
Well, it is not always that easy, again, always, that easy.
Think of it like grading in a class. 90-100 is an A (10 pt range). 80-89 is a B. 70-79 is a C. 60-69 is a D. and 0-59 is an F. What your saying is that because 0-59 is a larger range, classes are trying to fail more people (in this case, a credit rating company). However, the average for a given college course is C or maybe a B-. But, shouldn't a bunch of people fail? No. There's usually an amount of effort expected that you put into the course to pass. In this case, your course is paying bills on time, using credit responsibly. etc.. If you do decently, you can squeak by with a C, or a "fair" credit score. Above average but not perfect gets you a B. And, exemplary work gets you an A or an "excellent" credit score. If you jerked around during the semester, didn't go to class, forgot that major paper, etc., you'll get a D or F. Same if you just don't pay your bills period, are over leveraged, did not take the course difficulty into perspective (using credit wisely, 101). A similar scale is being used to grade you in credit. Did you think grading ended after high school or college?
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