Perhaps credit reporting companies should be banned from reporting 2020 credit problems. #coronavirus
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How are these incompatible? If you pay all your bills on time over the next six months and I don't, isn't that history relevant to a lender deciding whether it will be a "good loan?" Obviously they'd put our histories in context w the virus. All in the same boat.
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Credit reporting companies taking the virus into account? I think the long history of millions of medical related bankruptcies would put the lie to that. Their job is the opposite of putting us all in the same boat.
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Incorrect. The purpose is to make profits with other people's data.
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Both incorrect: Reason is to control citizens by their credit record.
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Crdt reporting is not just for loans.I'm a prprty mgr so I look at it a bit differently and now have tenants that can pay,but wont,claiming COVID.Their credit should not shine like yours and mine if they are making THIS choice. so NO. Ur singular angle doesn't work
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Incorrect—auto loan companies make bad loans all the time by financing people who have no business going in debt on a car. At least with accurate credit reporting, lenders know who their getting in bed with.
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I'm opting out of the credit system. Cash only, here on out. Cash is robust.
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Someone who has good credit through this is a very good loan candidate
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