I have lived in three countries before I moved back to the US, I was young when I left though so I never really knew about credit scores and things like that.

Now that I am a grown man living in the US I have realized that credit history could either make or break you. In the other countries I have been to they have a system similar to to SSN that we use but it doesn’t record the financial mistakes you have made throughout your entire life

Everyone says it was designed for employers and banks to see how responsible you are but I find this hard to believe. It doesn’t make you irresponsible if you got laid off because of cut backs and you couldn’t afford to pay your car note. Its really messed up because your credit report never shows why your car was repossessed, isn’t that weird if the system was designed to see if someone is responsible or trustworthy?

I think this hold credit reporting thing was designed to keep the lower class where they are. Of course lower class people will default on their bills at some point in time; the government knows this so I think they invented the system to prevent the lower class from getting loans (student loans, business loans) so they could never move up to the middle class and eventually upper class.

As for the upper class people, they are financially stable so they can afford to pay all their bills on time. This gives them a good credit score and they can be approved for any kind of loan (eg business loan). This will then make them richer and they will always be upper class

So I came to the conclusion that credit reporting doesn’t benefit lower class people whatsoever because they are barely getting by, they can probably pay their bills but it wouldn’t be paid on time.
The US government know how to keep its people under control, its really sad to know that if you have a messed up credit score than your chances of making it in life are really low.

Its hard enough getting by in this economy, and its even harder trying to maintain your credit score so you can get a job or loan in the future

When would the government give its people a break?

and Why do we call our country the land of the free when everything is controlled. We even have to pay for health care……the government must really love us….smh

Technorati Tags: banks, benefit, business loan, business loans, conclusion, Credit history, credit report, Credit score, credit scores, cut backs, economy, middle class, point in time, student loans, us government

Tags: banks, benefit, business loan, business loans, conclusion, Credit history, credit report, Credit score, credit scores, cut backs, economy, middle class, point in time, student loans, us government

I have lived in three countries before I moved back to the US, I was young when I left though so I never really knew about credit scores and things like that.

Now that I am a grown man living in the US I have realized that credit history could either make or break you. In the other countries I have been to they have a system similar to to SSN that we use but it doesn’t record the financial mistakes you have made throughout your entire life

Everyone says it was designed for employers and banks to see how responsible you are but I find this hard to believe. It doesn’t make you irresponsible if you got laid off because of cut backs and you couldn’t afford to pay your car note. Its really messed up because your credit report never shows why your car was repossessed, isn’t that weird if the system was designed to see if someone is responsible or trustworthy?

I think this hold credit reporting thing was designed to keep the lower class where they are. Of course lower class people will default on their bills at some point in time; the government knows this so I think they invented the system to prevent the lower class from getting loans (student loans, business loans) so they could never move up to the middle class and eventually upper class.

As for the upper class people, they are financially stable so they can afford to pay all their bills on time. This gives them a good credit score and they can be approved for any kind of loan (eg business loan). This will then make them richer and they will always be upper class

So I came to the conclusion that credit reporting doesn’t benefit lower class people whatsoever because they are barely getting by, they can probably pay their bills but it wouldn’t be paid on time.
The US government know how to keep its people under control, its really sad to know that if you have a messed up credit score than your chances of making it in life are really low.

Its hard enough getting by in this economy, and its even harder trying to maintain your credit score so you can get a job or loan in the future

When would the government give its people a break?

and Why do we call our country the land of the free when everything is controlled. We even have to pay for health care……the government must really love us….smh

Technorati Tags: banks, benefit, business loan, business loans, conclusion, Credit history, credit report, Credit score, credit scores, cut backs, economy, middle class, point in time, student loans, us government

Tags: banks, benefit, business loan, business loans, conclusion, Credit history, credit report, Credit score, credit scores, cut backs, economy, middle class, point in time, student loans, us government