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Started By
Message
re: Artificially inflated credit scores are starting to drop nationwide
Posted on 5/27/25 at 7:07 am to HailHailtoMichigan!
Posted on 5/27/25 at 7:07 am to HailHailtoMichigan!
quote:
Article presents it as a bad thing, but lenders being able to use credit scores to make sensible loans is vital for any functioning economy.
100%.
Ignoring credit risks makes borrowing more expensive for everyone.
0
Posted on 5/27/25 at 7:08 am to Smeg
quote:
MILLIONS of liberals are now REFUSING to pay their debt, until Donald Trump “meets their demands”..
Posted on 5/27/25 at 7:10 am to Smeg
quote:
They feel entitled to not pay their loans back. Did you see that video of the girl? You don't give loans to these people.
She wants to avoid paying. She's just using politics as a reason and trying to encourage others to make the same stupid mistake.
Any decent guy (or gay girl) is going to run away from her the way she's running away from her financial responsibilities.
Posted on 5/27/25 at 7:10 am to HailHailtoMichigan!
This could be the variable that pops the consumer credit bubble.
And if that pops, the economy at large is going to have some major pain.
And if that pops, the economy at large is going to have some major pain.
Posted on 5/27/25 at 7:26 am to Smeg
quote:
Who wants to give a loan to the guy who's delinquent on his previous loan? If they haven't been paying it off, they're probably going to screw you as well.
This and because they the value of the loan is increasing due to interest and late fees, their Debt to income ratio doesn't look good
Posted on 5/27/25 at 7:34 am to HailHailtoMichigan!
Idk, these kind of things is how republicans get voted out in 2028. There will be no Trump to unite the republicans and you know a white savior democrat will come out of the woodworks to “promise actual student loan cancellation, credit score reform, etc.”
Posted on 5/27/25 at 7:36 am to FCP
quote:
My 825 scoffs at your pedestrian score.
Posted on 5/27/25 at 7:40 am to Froman
quote:
Article presents it as a bad thing
It’s not a good thing.
It's a very good thing. Giving more debt to people who, in actuality, can't afford said debt, just makes their problems worse. This makes them work on their current debt, instead of piling more on.
Posted on 5/27/25 at 8:28 am to Smeg
quote:
They feel entitled to not pay their loans back. Did you see that video of the girl? You don't give loans to these people.
The saddest thing about this video is that some guy will happily impregnate her and then she will raise future burdens on society.
Posted on 5/27/25 at 8:31 am to Froman
quote:
It’s not a good thing.
Shut up freeloader
Posted on 5/27/25 at 8:36 am to Smeg
Hey bitch, report back on how that's working out for you. 
Posted on 5/27/25 at 9:14 am to SlowFlowPro
quote:
This could be the variable that pops the consumer credit bubble.
And if that pops, the economy at large is going to have some major pain.
Short term, sure. Long term it becomes more stable.
Posted on 5/27/25 at 9:25 am to CatfishJohn
credit score is a scam.
I paid off my house and my credit score dropped 75 points.
I've paid off everything I have ever bought. Never defaulted on anything. They want you in debt.
I paid off my house and my credit score dropped 75 points.
I've paid off everything I have ever bought. Never defaulted on anything. They want you in debt.
Posted on 5/27/25 at 9:27 am to HailHailtoMichigan!
Credit scores are like BMI. Useful in certain scenarios, but there is a ton of noise for no reason. Forgetting to pay a credit card payment should not lower my credit score by 80 points the first year and 40 points the next 3-4 years. Sorry, that means it's a broken system.
Posted on 5/27/25 at 9:54 am to LW
quote:mine too
I paid off my house and my credit score dropped 75 points.
I’m almost 60, no debt, plenty of assets and my credit score is in the 600s because I don’t have a mortgage any other credit accounts (and I haven’t for almost 20 yrs)
Posted on 5/27/25 at 10:03 am to LW
quote:
credit score is a scam.
I paid off my house and my credit score dropped 75 points.
Credit score isn't about the likelyhood you repay a loan.
It's about how much you're willing to let banks make off you.
Also, while I believe people need to pay on their student loans, the last thing I'm going to celebrate is big bank's profit margins being at the front of the line of things to be addressed right now for middle class folks.
This post was edited on 5/27/25 at 10:06 am
Posted on 5/27/25 at 10:12 am to El Segundo Guy
quote:
Mine was 830 and then dropped to 790 last month.
This is what mine does, jump up and down for no apparent reason. One month it'll be 805-810 range and then the next month it'll be 790 or so even though nothing changed as far as debt for me. I don't understand it
Posted on 5/27/25 at 10:37 am to FredBear
They change the models, and a lot of people use custom models. If you look at SFP's image, that particular score was with "FICO8." I worked at a company that did custom scoring based on what the individual lender wanted to prioritize, and what they didn't.
You may apply for credit at Rooms to Go, and their model will tell you "your score" is 810. You can walk across the street to mattress firm later that morning, and their model will report back you have a 790 (either a soft or a hard pull won't get reported that fast, so Mattress Firm will not have known you applied for credit at Rooms to Go that quickly.)
You may apply for credit at Rooms to Go, and their model will tell you "your score" is 810. You can walk across the street to mattress firm later that morning, and their model will report back you have a 790 (either a soft or a hard pull won't get reported that fast, so Mattress Firm will not have known you applied for credit at Rooms to Go that quickly.)
Posted on 5/27/25 at 10:58 am to HailHailtoMichigan!
These are some dumb people. First they made a mistake in majoring in a
field that has no market. To make it worse they signed for huge assed loans
to pay for it.
If they join the Navy for 8 (eight) years they will not have to worry about rent
and their student loan could be paid.
field that has no market. To make it worse they signed for huge assed loans
to pay for it.
If they join the Navy for 8 (eight) years they will not have to worry about rent
and their student loan could be paid.
Posted on 5/27/25 at 11:02 am to HailHailtoMichigan!
A lot of things starting to indicate a pretty major recession coming
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