The only people who would be outraged by the whole idea of credit reporting are the deadbeats.
> The only people who would be outraged by the whole idea of credit reporting are the deadbeats.
And the deadbeats usually put down false info on their credit apps anyway so it works to their advantage when people try to catch up with them later. If you take away credit reporting...what are you supposed to just hand out funds just because the applicant looks nice? Conmen and their accomplices are usually attractive people and for some reason most dummies believe what they say and like them (at first until they get conned by them). No. Credit reporting is in place because its consists of historical information on whether that applicant is trustworthy and financially responsible and that’s the type of people you want to lend to - people that will pay you back. Lenders lending money without having it repaid would go out business in no time. Of course, lowering standards is exactly what got us on the current chaotic economic mess we’re in, in the first place but try telling that to a deadbeat liberal and all common sense flies out the window because they just want what they want like a spoiled child that eats sweets all the time then wonders why the weigh 350 lbs when they become an adult. Dumb actions have consequences.
> The only people who would be outraged by the whole idea of credit reporting are the deadbeats.
And the deadbeats usually put down false info on their credit apps anyway so it works to their advantage when people try to catch up with them later. If you take away credit reporting...what are you supposed to just hand out funds just because the applicant looks nice? Conmen and their accomplices are usually attractive people and for some reason most dummies believe what they say and like them (at first until they get conned by them). No. Credit reporting is in place because its consists of historical information on whether that applicant is trustworthy and financially responsible and that’s the type of people you want to lend to - people that will pay you back. Lenders lending money without having it repaid would go out business in no time. Of course, lowering standards is exactly what got us on the current chaotic economic mess we’re in, in the first place but try telling that to a deadbeat liberal and all common sense flies out the window because they just want what they want like a spoiled child that eats sweets all the time then wonders why they weigh 350 lbs when they become an adult. Dumb actions have consequences.
Way over 50% of credit reports are full of misinformation that can cost you a job. It also raises the price of car and homeowners insurance you will pay. Low credit score means you pay more.
Half of the uses of credit reports has nothing to do with getting a loan or credit.
That is like saying, only people with something to hide are outraged by getting spied on by the private-sector agents of the fascist state.
"Law-and-order" conservatives love the State as much as any liberal does.