I was just a little sad today because my hubby works in the mortgage industry and a friend of ours is trying to refinance her house with a 527 credit score. She lost her job when Airlines were letting go of so many people about a year and half ago. She is a good person but her credit score makes her look irresponsible. Then I started thinking; doesn't credit scores really hurt good people for the most part? My hubby and I were in a similar situation. We were self employed and our business didn't go well. And we worked it really hard. We weren't just lazy bums not paying our bills. I know credit scores helps in some ways like discrimination. But the score is suppose to show a persons level of responsibility. But instead if someone goes through a hard time in their life and 1 year later it is all better, that person is punish with bad credit for 7 years! There has to be a better way to show real irresponsibility and fraud. Sorry so long, I just need to vent.
It isn't about better ways to do much of anything. It is about how to milk the most money out of something, how to do it the easiest way possible, how to do it for free. Anything but figuring out how to do it better or more fairly. Especially more fairly.
I agree. Our cable company charged us $60 because of our credit when we got our house. They said we would get it back in 12 if we paid on time. If I don't pay they can just shut it off. They loose nothing! The just put my money in their account and earn interest on it!
