The propaganda of credit scores!

Someone who never took out a loan but worked all his life and saved a million dollars in Gold would have no credit score.

I don't care what my credit score is because I never plan on going in debt.

However, here is the rub..

Your potential employers check it and it hurts opportunity if it sucks. That is how they enslave you. Everything is a condition to work, being plugged into the debt system, ect, ect ect..

One Voice, One Vision, One Love ~ Liberty.
Good Thoughts, Good Words , Good Deeds.
That is the Ron Paul rEVOLution Creed.

One Louv. ;-)..

I agree credit is over rated. I only obtained two credit cards so that I could increase my credit score so I could qualify for a mortgage. I did not get one of those predatory type loans. In my opinion the ARMS and interest only loans are predatory. With that said I read all my loan documents before I signed them and had my bank verify I had assets of %20 of the loan amount to qualify. I did not put the %20 percent down. Instead I am paying PMI. Luckily PMI is tax deductible for now. I obtained a 30 year fixed rate loan.

I also agree that it is disgusting that car insurance company's now use credit scores. When you are paying for car insurance you are actually paying for it in advance. Hence the definition of credit. Credit is where you are obtaining something in advance and then paying it back later. Car insurance you have to pay for in advance either monthly, quarterly, bi annually, annually, etc. I don't mind using a credit score to obtain real "credit" whereby I am obtaining something in advance of payment. What I think is disgusting is that now companies are using credit scores for everything even services you pay for in advance.

Credit score in my opinion is just something else to discriminate against people with. It should be illegal to use a credit score for employment. All Americans should be free to obtain employment. Discriminating with the use of a credit score sure sounds like infringing on freedom to me.

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As the dollar is falling, it is adding wood to the fire that Dr. Congressman Ron Paul has sparked; the fire that is the R3volution. Thomas Jefferson would be proud.

I know in my own life, I immediately stopped borrowing when I realized what I was doing. It was my fault to have wanted more than I needed and to actually purchase based on those wants with money I did not have.

Continued...
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she saw to it to trash my rating by letting all her cards go to collection..

~Mikael / Peace, love, Light and unity ~

Well, mortgage companies gave loans to people with poor credit scores, they bought houses, they couldnt/didnt pay off their debts, and the economy collapsed.

I'd say they serve at least a small purpose.

BE AGAINST THE LAW! I had good credit until I became a single parent and then everything fell apart because my ex refused to pay child support . Having good credit means NOTHING as far as being a good employee. Sure, there will always be people who will steal and cheat(how many wealthy people cheat on their taxes and hire expensive accoutants and lawyers!), but I don't believe for one second that just because you have a poor credit score you are automatically considered unworthy or unqualified for a job! That is just CRAP and should be considered as DISCRIMINATION! Why should your prospective employer have any right to your credit history, perhaps only in very limited circumstances should that be relevent to a job!

I'm not implying that you are not responsible, i'm only saying what happened to me years ago. I'm very sorry that you have lost so much material wealth and possessions and have been expenriencing tough times; I've been there too, many times and many circumstances have caused me to lose everything I owned except for my 2 sons and the clothes on my back, LITERALLY!

It is so FRIGHTENING how close anyone can be to the financial abyss, one day everything is fine, the next your life is turned upside down and it takes so much time and energy to get back to where you were when the SHTF. I too will pray for you and I sincerely hope that your situation improves rapidly.

quit paying your bills and sue them all, the ultimate protest.

read this

http://sosnews.org/pdf/ba...

"Americans need to take a Democrap and wipe it's Republican from the history books of this once great Nation"
-Concerned Citizen

people have been told ...

Buy twice the house that you are realistically qualified to buy ...

with NO MONEY DOWN ! ...

when it goes up in value, YOU WILL BE RICH !

Now that reality has set in ....

the sad fact is ....

they put NOTHING into the asset.

How much should they get out of the asset ?

NOTHING !

... sorry !

For those that only learn lessons the hard (me included) ...

I hope they reach zero as quickly as possible. (Or whatever is the lowest credit score possible)

It took me quite a few years to learn that.

When I could no longer access credit, I suddenly grew wealthy.

Imagine that.

Now they beg me to borrow money.

The irony is quite thick.

WAHOR!!
http://www.dailypaul.com/...

to the country I had to use a different power company than the one in the city and they do a credit check before doing business with you.
At that time I had a 720 rating but they ignored that and concentrated on a child support dispute I was having with Ca. from Tn. If you've ever had the misfortune of trying to settle a dispute like that from 2,500 miles away, then you know what hell is.
Anyway they nosed around until they came up with that and charged me a 500 dollar deposit before they would turn the lights on.
Things were not this bad then or I would not have paid it.

I'm a victim of the mortgage crisis. I had a very good credit score (700's) but was given a sub prime loan. My lender never came out and said it, but when I tried to refinance I was told then. He made a lot of money for choosing that loan for me, and I trusted him.

My mortgage started out at $700.00 a month. I pulled all my savings $55,000 out of my investments and tried to keep making my mortgage payments. They rose to $3,000 a month not including taxes and insurance. That's the equivalent of a $400,000 home loan. After exhausting my savings, I finally lost my home. I actually lost everything. I had put $37,000 into the house and had to walk away with a horrible credit score and whatever the difference of what the house sold for. The house was appraised in 2005 for $182,000. It could easily have sold for $160,000 as everything was new in it. It was the nicest house on the street. New hardwood floors, new carpet, new everything. The lender gave the house away for $114,000. And I'm on the hook for the difference.

Now I can't say I had it as bad as most because I had a rental property that I could move into. And I did. So I'm trying to keep this house and applied for a job. I was offered the job but had to sign a form that said it was OK that they check my credit and that it would show my character. That they could deny employment based on the results. Isn't that a kick in the teeth.

Hmmmm. I may set a record for the lowest credit score they have ever seen. I passed a personality test, a drug test, a computer skills test with flying colors and a criminal background check. But I'm just waiting for the letter in the mail telling me not to show up. The irony of it blows my mind. If I could work for six months I could get everything back on track but I'm probably not going to get that opportunity.

If I had been given a normal conventional loan with my back up savings I never would have lost that house. I tried to refinance and they wouldn't. This was while they were foreclosing like mad and blaming homeowners, before the truth came out about their predatory tactics. I went from owning $300,000 in real estate and driving a new Mercedes to standing in line at food cupboards and asking for government assistance. And I have avoided trying for a job because the banks have garnishment orders just waiting to take every cent I make. I started a business and it's been tough. I created a limited liability company but it didn't stop the bank from cleaning out my account for my personal debt. They took every cent I had. The bank I had my account with made a mistake and put my social security number on the business account. My bank fixed my account but refused to give me back my money. And the bank getting it refused to give it back. I would have to take them to court. And I spoke to a lawyer who told me they can come and take my car and sell all my household furnishings if they want to and there isn't a thing I can do. The real kicker is they take me to court but never send me any of the paper work so I never know when another action is taken. I live in fear of a tow truck showing up to take my old car. Or the sheriff to sell my stuff. So this is my life. If I had not started a business and created the LTD, I would be on the street right now. As my lawyer friend said, they don't care about you. They want their money and will do anything they want to you. They don't care if you are on the street. But business is tough. I'm living hand to mouth and dealing with people who don't pay me when the work is finished.

This doesn't resemble my country, I don't recognize it. I want to work but can't, I want to get back on my feet but may never be able to do it. It was hard for me to share this but people need to know. The banks are evil. We need to stop letting them run things. They are ruthless and dishonest. Until we take a stand and start protecting Americans they will own everything and we will be in the streets.

The levels of credit risk is part of the overall debt system of money, there must be determinants within the system to maintain it and its viability. So, just like the credit card commercials that hype of the various social status of having a particular credit card over another, the same is true with the credit scoring process. The truth is that in the credit risk business, there are so many variables used to determine credit scores that it borders on the absurd, many of those factors are not acurate in determining the credit reliability of a person and yet they use them nonetheless and make money in the process. It is a stratified system that they have created to continue to credit/debt mentality in the world, and people are eager to buy into it.

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I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater

you into trying to "be somebody".

I'm already "somebody" so why do I need to have a great credit score and go head-over-heels into debt?

...hopefully more and more will, every day.

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