You know once you stop giving a shit about your debt score, you find so much more peace.
Something something, leading indicators…
Why would Obama do this?
Is it because they know we’re all about to get sucked by the rise in healthcare prices in 3 months?
What the hell is a credit score?
Sounds like some dumb gay lib shit!
more like some stupid usa-shit
I’m doing my part! struggles harder
Yo, leave some struggle for the rest of us.
My personal scores have increased by about 100 points in the last 6 months (I started getting worried about interest rates getting even worse and consolidated my credit cards under a personal loan with a definite payoff date).
At this point I really don’t care what my credit score is, but this feels like a bad time to have debt, and for once in my life I feel lucky that I’m able to be paying off debt faster than I can take on more - which really hasn’t been the case since I went to university in 2007 (and never finished for financial reasons).
An inflation event is a great time to have debt. The best time to have debt. The money is worth more when you get it, and the debt you owe shrinks in value.
If you have a stable job, this is a great time to have debt. The dollar is decreasing in value, so as long as the amount you make keeps pace with that devaluing, the value you actually owe is decreasing.
IF you have a wage that is adjusted/raised at least to inflation’s levels
this feels like a bad time to have debt
It’s a great time to have debt. If you don’t end up imprisoned, killed, or a refugee, massive inflation will make repayment easy.
That only makes sense if wages rise to meet massive inflation.
So no, not a good time to have debt.
I too went to university in 2007 and didn’t finish for financial reasons! I had a meager $1500 loan, I couldn’t afford to pay off. Ended up paying through the IRS taking my tax refunds about 5 years. Paid $7000 for a $1500 loan. Fun times.
My credit, is however, still in the shitter. I’ve never owned a credit card. I refuse it.
Getting your credit score up can have benefits. My credit was destroyed after my bank scammed me and I couldn’t pass the background check to rent an apartment. I literally had to bribe a landlord with an extra $1k deposit just to rent an apartment. That’s just one example but there’s many more. The world is increasingly stacked against those with bad credit, and in favor of those with good credit. It really is in your interest to game your score up with a low limit card.
I for sure understand this.
There are a couple products out there that will simulate a credit card, but not actually extend credit that can put you in debt. Depending on how you feel about fintech “banks”, Simple has a product called “credit builder” that works quite well. It’s essentially a revolving secured CC, but to the user it acts like a reloadable debit card.
This is such good advice. I am stubborn about not playing the game with it though. Appreciate your thoughts here though.
Honestly same though. It’s not easy. I was dumb in the past and have loads of debt still, so I’ve had to learn these things the hard way so I can try to build it back up.
You don’t want to be in debt when the merry go round stops
I wonder if it had anything to do with fucking up everyone’s student loan repayment plans immediately after taking office
I helped!
Maybe people are a bit pissed that they can make years and years of on time payments but then something happens and they miss a payment or are late, they get charged another fee and get reported. Fuck credit scores.
You can carry unlimited loses on stocks and get a tax break. Miss a payment once and get a 45% penalty and unable to get an apartment for 10 years. 🇺🇲🦅
The game was always rigged against us.
Time to move fast and break shit.
I was there. It wasn’t that great.
This ride is super fun but we’ve been accelerating downward for a long time and that ground is getting awfully close…
My geriatric millennial ass:
These delinquency rates are “more consistent with an economy in recession than one still in expansion,” FICO said, adding that mortgage and home equity loan delinquency rates are still near historic lows.
I have heard banks have been bending over backwards to allow people to keep up to date on their loans though.
They aren’t. I recently went through fucking hell with my mortgage company trying to figure out a plan to stay, or even just stay until the house sold. They drug their feet and were so incompetent during the whole process and were zero help.
Hey hey, its okay - it’s not AS BAD as the worst financial crisis in our living lifetimes. Things are alright.
It’s possibly worse if you take out the AI bubble…And it’s still getting worse
Not as bad yet
Prances off singing “I’m still standing”
