Timeline for How can one be financially devastated by unsecured debt?
Current License: CC BY-SA 4.0
9 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Oct 25, 2020 at 0:02 | comment | added | sequence | @J... I thought there could be something I didn't know about. | |
| Oct 23, 2020 at 23:06 | comment | added | sequence | @CQM Personally I was credit-checked only when I either applied for financing or for a non-prepaid plan. In about 10-20% of cases I was credit-checked when applying to rent. Other than that I could've easily gotten all I needed without credit. | |
| Oct 23, 2020 at 21:03 | comment | added | CQM | @sequence I understand that. You simply need a lot of cash to get the best of society without credit, but if you can't get that and ever need to rent/lease/mortgage, then you don't have as many options and your quest fails. That's the answer. | |
| Oct 23, 2020 at 20:29 | comment | added | sequence | @CQM My question was about a total exodus from the credit system. In this scenario one would actually be forced to exit the credit system. | |
| Oct 23, 2020 at 20:28 | comment | added | sequence | @J... From my experience it's only in about 20% of cases that landlords run credit checks. And I'm not talking about "sketchy" places. | |
| Oct 23, 2020 at 15:47 | comment | added | CQM | @sequence thats what it says? it says the privilege evaporates, which is because those are all credit objects. you think it needs to explicitly say that? The point is that these are common occurrences in people's lives so there are ongoing consequences for not paying off debt. | |
| Oct 23, 2020 at 15:34 | comment | added | J... | Even if you intend to rent and pay cash, a lot of landlords will still run a credit check before renting the place to you - if you've got a history of bailing on debts, good luck even renting a place with cash. Your options are to buy a house with cash or live in a van or other sketchy rentals that don't ask questions. | |
| Oct 23, 2020 at 7:26 | comment | added | sequence | Leasing a car or getting a car loan is also part of dealing with the credit system. | |
| Oct 23, 2020 at 4:34 | history | answered | CQM | CC BY-SA 4.0 |