|
|
|
|
|
|
by prewett
4473 days ago
|
|
|
I'm not in favor of defaulting on loans. But having bad credit doesn't necessarily destroy your life. I've never taken out a loan in the past 17 years, yet I've bought several cars (including one new). The only thing I would need a loan for would be a house, but being single and with property tax in my area at 2%, I'd rather not. > Why? By the end of the second year of a salaried job I would be highly surprised if that shitty credit score hasn't fucked up your life in at least one major way. She was having trouble getting a job as a waitress, I think she did not see the scenario of the salaried job you speak of as being relevant to her. > People want to buy shit, often-times shit that's more expensive then they can currently afford, it's why loans exist. I know it's not popular these days, but one can actually limit oneself to things you can afford. If you do that, you don't need a loan, and hence, bad credit is irrelevant. And if you have a habit of buying things you can't afford, bad credit is in your future... |
|
|
I'm just saying that, imo, for the vast majority of Americans the ability to get a loan is more important then she implies. Not to mention the fact that Phone-Carriers/Recruitment-Agencies/Utilities-Vendors check credit scores as well.
It's effectively coming to terms with the fact that you won't be getting a new car/home for 7 years unless you can afford to buy it with liquid assets... So, unless your income is so great that you can save up for a car/house on TOP of affording rent + food/clothes/etc + student loans, you won't be getting one until your credit recovers.
You last paragraph is basically my point, limiting oneself is _not_ popular these days, that's exactly why most American's would regret this decision because eventually they would find themselves limited. Perhaps they should be.
I feel like I should state down here that:
a.) I hope I never have to borrow money in my life, but I probably will. I don't think it's the "right" way to live or anything.
b.) I think this does make some sense for certain people.
c.)I don't think bad credit ruins your life, but I do think it has a bigger impact than was implied.