This is precisely the point, crash the economy and then use that to rationalize brutal austerity to centrists while selling the foundation of US society off to Oligarchs.
This is the US finally fully colonizing itself like a star that has run out of fuel to keep growing and now is beginning a process of collapse inwards.
They want to make you desperate and you will be which is why you will accept conditions from the rich that seem unfathomable to you now.
I’ve been going the opposite direction in my employment capacities: behaving “unfathomably” to these motherfuckers. What’s good for the goose and all.
Become ungovernable.
Always go out of your way to discriminate against these people. They will always, collectively, in unison do the same to you. They will show no mercy and give no quarter. Stop “being nice” because the enemy stopped “being nice” a long fucking time ago.
“We” will only accept it because they’ll mostly stay hidden. The worse it gets, the more Luigis there will be. Not me though. I fight for justice by feeding those in need. There are still many who are generous to those in need. For now. While we still have a tiny bit extra we can give.
Based on past history, if enough people’s credit scores fall, making it more difficult for them to finance things, companies will simply lower their credit requirements and charge higher interest, because they want to keep selling things. As usual they’ll make it all seem like a good idea, entice buyers with zero-interest periods, etc.
Credit scores are a scam.
You need a high credit score for the home loan you’ll never get approved for. Duh!
Well, they aren’t exactly optional.
They should be… They shouldn’t exist
I made it almost to retirement age without a credit score. But I freely admit it’s probably a luxury that isn’t afforded to younger folks.
Move to south east Asia. They don’t have anything like them. It’s not the cure all you think it is.
Why is it binary?
🧑🚀🔫🧑🚀
As if there wasn’t enough evidence that this shit was a fucking racket before. Now, saddled with shit we can’t remove - student debt being the worst - we’re subjected to this revamped and stacked rating system.
Sure seems they are doing their best to remove the possibility of any type of government forgiveness program that could come to be.
Nah medical debt is definitely worse than student debt. Maybe not buy a total number of people affected, but just by the nature of it makes us so much more egregious.
- It’s involuntary, your life and well-being hinges on your health
- It’s not a metric that determines credit worthiness. You didn’t explicitly go out and get a loan to borrow money for some endeavor like school
- It’s often cripplingly massive
- It often builds up over time and becomes unmanageable as individual debts often have to be paid individually and minimum payments overlap to create unsustainable monthly burdens (ie. $100/m over 18 providers = $1800/m)
Student debt is unforgivable.
Unsure if you read my comment?
And… Medical debt… Is somehow not worse than student debt?
I read it.
Medical debt can be forgiven through several means. The debt itself is bad, but because through programs aimed at reducing the debt, or even through filing bankruptcy, it can be removed, your qualifier, “worse than” is met by Student Debt.
Student debt cannot be forgiven. As in, there are no means by which it can be reduced or removed, even in cases of bankruptcy. This is why Biden attempted to remove the debt entirely, failed, but was able to do so in smaller chunks for some people.
I may not like most of what Biden did - he was far too weak and didn’t represent the people well enough - this was a good thing and would have assisted millions.
Please educate yourself on the types of debt, the actions people can take to expunge it, and maybe some financial stuff. Not everything is equal.
TL;DR: While bad, medical debt in and of itself as a financial construct is not worse than student debt.
“There are 45 million people with student loan debt and 15 million with medical debt. It’s highly likely that there is some overlap there,” said Adam Rust, director of financial services for the Consumer Federation of America. “People are really facing a perfect storm here.”
To late, my credit is already screwed.
I find it funny that the guy who never paid people is all about penalizing people who can’t pay.
How many bankruptcies has Trump had now? At least 10+
Can we start talking about freeing ourselves from the credit score system now? It’s bullshit to continue feeding info it, especially now as it funds fascism so directly. At least before the capitalism pretended to be democratic and play by some rules but now it feels like time for some guillotine negotiations.
Replaced with what? In the old days you had to be a white man in good standing at church and have a firm handshake to get a loan.
In Spain to get mortgage I just had to show my work contract (to prove it’s permanent) and 3 last tax returns. That’s it. I never had other credit, never both anything in installments. Banks actually make money by giving you credit, it’s not charity. The rules are simply that they will cover up to 80% of the value of property and that the installments cannot be higher then 50% of your salary. Everything beyond that is just a scam to force you to buy other products from them.
The US is fucked in the work contract part. Very few jobs can expect notice before being let go for layoffs. We can be fired for made up reasons. Sure I can show a history of income, but there’s very little guarantee of future income.
The previous generation(s) gave up on labor power and we’re stuck with what we have now.
(to prove it’s permanent)
Well, let me show you the At-Will map
So? In Spain you can still be fired immediately and if the employer can justify it you don’t get any compensation. I they can’t justify it you get 1 month salary for every year you worked at the company. Proving to bank that you have permanent contract is not there to show that you can’t be fired, it’s only to show that as far as anyone can tell you have a stable employment. This definitely doesn’t justify the entire credit score BS.
In Spain you can still be fired immediately and if the employer can justify it you don’t get any compensation.
Well, in America even if they can’t justify it you don’t get any compensation. Maybe unemployment. I did when I was laid off of my last job, but it’s still a pittance.
This definitely doesn’t justify the entire credit score BS.
Never said it did. I was just pointing out how civilized your area is in comparison to the United States.
Never said it did. I was just pointing out how civilized your area is in comparison to the United States.
Ok, fair, but I think everyone knows that already :)
Ok, fair, but I think everyone knows that already :)
That is also fair :)
Yeah i feels like the issue with every system isn’t because of the system, it’s because the USA have an unchecked capitalism eating away the country.
Theft. It’s much faster than the credit system.
What would be effective ways to move away from the credit score system? One major problem I see is, credit score is used to decide who can rent an apartment, and it also affects your ability to get a mortgage. Fear of being locked out of housing is why I got a credit card, despite hating the concept of credit cards. Even if there are people who aren’t affected by this who can afford to opt out, it isn’t going to be practically possible for most.
