More Americans' credit scores sink to new lows

You have to admit, though, that this is exactly what a lot of us wanted.. to not be a part of the system, to break free from this evil clutch that has a grip on us.

With no credit report, you are not noticed.

You may not be able to get a 'top' job or get loans etc, but who cares?
Why are we worried about being a part of the problem ever again?

I am glad and happy that they do not have the ability to identify me. I am glad that it means I have to visit places with physical papers to prove my identity.

I would rather do that than know that my life is stored on some big computer and able to be accessed by all at any time.. or even get lost by the company that holds it all, only for it to end up in the hands of a 'criminal' who may use my identity to get money..

Well, you're not getting anything out of me chum..

Cash is the way..

You want to break free from their grip.. deal in cash only.. or find alternative methods to keeping your money in a vault..such as a building society or maybe even in places such as paypal.

So what if you don't get interest... it's not like they give you mega bucks anyway. They only use your savings to bump up their own business anyway..

stuff 'em.. The more of us who stop using their system, the more of us they will not be able to control.

If you need something, you will get it.. Where there is a will there is a way.

reply to post by Extralien


No debt here either, and I'm all for what people are saying about getting out of debt. However, as you and many have stated, it's not just about debt anymore.

Why should an arbitrary tool developed by financial institutions even be allowed to be a factor in the decision about what kind of job you can or cannot get. We have allowed this to happen.

And someone mentioned "check your scores for errors regularly." Sure. It's their tool, they use it to control you, but you're responsible for maintaining its integrity for them...to protect yourself. What's wrong with this picture?

Originally posted by ~Lucidity
reply to post by Extralien

 

And someone mentioned "check your scores for errors regularly."

This isn't football or soccer, or any other game.. I am not part of a league table, I do not compete to be better than the next person.. i am not a competitive business minded slave.

I wont ever get to be the richest person on the planet.. and I don't think i would really want to be.. not much point in it to be honest..

Why do we need to check our scores? Who has got the time? Why bother? and even if you are losing 3 nil, what difference is it going to make?

Daft I call it..

With all that's going on currently, our credit ratings should be the least of our worries.

What will it matter if we have credit but all of the shops have closed, lol...

Truck them and the system that has turned us against each other and made life a quest for the latest gadgets and worldly trappings instead of one big love fest!

reply to post by HIStory Indeed


I agree about the credit scores part, but definitely not about the credit score system, which is symptomatic and reflective of exactly what is going on here, and bringing it down and rendering it ineffective might be one of the only ways we have to make a statement and a difference.

Originally posted by ~Lucidity
Good. If everyone's score was zero that would reduce the Orwellian hold these people have over us. Toppling this system is one key step in the financial revolution...the only kind of revolution those in government and those who control the government will understand. Money talks.

Not many are Lucid though and do wish to continue to play the ILL-usion game. They think having monetary social standing success is "the deal" also known as "the good life"

I think it's criminal that credit companies charge you money to get your own credit score but provide to the banks for free.

How backwards is that?

reply to post by superluminal11

That is exactly the subset of Americans (and humans really) who will resist. They're the ones who measure their worth by exactly this type of tool.

They're also probably the ones still denying we have issues with unemployment and our economy too because they're still "okay."

Eventually the numbers and awareness will be on our side. I just hope it's not too late. But anyway, this is definitely one system that affects us all that need to GO.

If your credit score is being held against you when you do essential everyday things like get a job or get insurance, well, you better know what it is. It's also good to look at it to make sure people haven't stolen your identity and are screwing you over.

Saying everyone should just ignore it is folly. I do think it should be illegal to use it to hire people and I also think there should be more transparency on the part of the credit agencies. The way it is formulated is pure mystery and it has nothing to do with income.

[edit on 12-7-2010 by antonia]

Well, on the positive side, this should start putting something of a dent in identity theft cases. AFter all, who wants to steal the identity of a person with a worse score than their own?

reply to post by antonia


Maybe I'm crazy, but I was brought up by very old parents who taught me the value of common sense, including not buying what you cannot afford.

Funny. The same percentage of people here is the same percentage of people who don't know the nation we declared independence from.

So it's true. South Park was right. 1/4 of Americans are retarded.

Soon 700 will be the new 800. Its going to have to be or no one will be borrowing money or making money off the borrowers.

reply to post by antonia

Good luck getting either the government or the companies that run and use the credit bureaus to change this.

reply to post by Bachrk


In fact, as stated previously, the trending is in quite the opposite direction. Soon 700 will be the new 600. The people with the real 800s don't want you up there with them. Plus, they can make more money on us lowly 600s. Isn't this fun? A whole new inferior class to use and abuse.


[edit on 7/12/2010 by ~Lucidity]

I killed my own credit score on purpose. I don't want it anymore. Let the lenders starve. Credit will not make life better. We can run our world without it. Everything will be OK. Do not panic.

reply to post by earthdude


They won't starve. There aren't enough people doing what you do. Most are slaves (and I don't use that term loosely) to this system.

And until the vast majority do, this system will remain in place and both you and I will continue to be judged and controlled by it, whether we individually owe a debt to them or not.

Your name never comes out of that record.

reply to post by ~Lucidity


I agree. This is a good thing. Living on credit is a very bad idea. People used to save for stuff, and pay cash for stuff. Now what used to be considered "luxuries" are considered necessities, and our priorities are a mess.

I think that while this is really going to hurt, we need to get back to setting goals, prioritizing spending, saving for big purchases, and getting out from under the thumb of lenders, who make a huge profit off our collective impatience.

I do think that it is a shame that credit scores have become so linked to jobs though. Its hard for those who have made youthful errors, or who have bought into the whole consumer thing as adults to pull themselves out if they are being denied work.

But overall, I see this as a painful good. Not an evil.

I would like to say about my own bit of whining. I only used credit to my advantage ie; buying the car on contract and having the cash to pay 4-5 payments a month with a balloon at 1yr so my interest was usually less than whatever "bargain "was given based on my paying my contract as written.
My main beef is as has been stated is regarding the fact I am now a financial pariah. Jobs I once could have gotten I will not get even if I could walk well enough to do them. Finding a rental was an education in "your a piece of S*^T"
and since I do not intend to indulge the system further this is it's retribution. Things are changing now SOO fast and not much for the better.
I live on the coast and when I see it hit the RV's and 150,000dollar toy trucks for the sand, YOU KNOW, THE "MIDDLE" CLASS...LOL! It may start to sink in that they are a couple yrs behind in learning how to live in credit land with no credit.
I will go to my grave knowing I have witnessed events in one lifetime that used to take several.
In biology we have what is called a terminal parasite bleeding us more and more efficiently on a logarithmic scale. My main concern is the children I fathered in brighter times will have even a portion of the life I have?
N.

American consumers have long been mildly chastised for relying too heavily on credit and for having little to no savings. Now when so many people are out of work and are dependent on their credit cards just to keep treading water, this sort of news is not surprising.

I wonder if there will be some sort of mandated realignment of credit scoring for consumers, as was implemented with SAT test scoring for American high school students.