HORRIBLE news - Read & recommend this posthttp://finance.yahoo.com/news/More-Americans-credit-scores-apf-490198280.html?x=0&sec=topStories&pos=5&asset=&ccode=
yes , and eventually the system will have to change to accomodate the conditions .... if "they " want to , or need to , institutions will start to consider a credit score of 500 to be okay , if not , then everyone will lose .. once the system seizes up , the old values won't work anymore , banks and large companies cannot sit on mountainsof cash forever something will give and the economic flood waters will again flow unmitigated .. if for no other reason , thanjust because ... we not going back to the feudal days , or bartering days ....
LOOK AT THIS HORRIFYING NEWS!http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_B/threadview?m=tm&bn=1903&tid=1453882&mid=1453882&tof=5&frt=1
Very few credit worthy customers for banks now in USA = loss of business and income currently and in future imho
excerpt from the article...."Now the ability to repay the debt is a critical part of the lending decision." ........what a novel concept.
Maybe if they stopped walking away from their debts even when they can pay them? Hmmmm, sounds like cause and affect to me.
It doesn't seem like the - here let me borrow some money from china to pay for what you borrowed because you should never suffer for your greedy, idiot mistake -is working out for us.