Post
by NoSmoke » Sat. Feb. 15, 2020 5:56 am
Katie and I have probably the poorest credit there is, and yet when we get notifications that it went down, we cheer! We have some, but are slowly paying that down, right now being at 7% debt in terms of debt to asset ratios, and that is real estate debt, and not consumer debt.
Credit is based on debt. There are various ways the devise that score, but it is all based on debt.
The whole system is messed up. Like I could not go to a bank and buy a Kubota tractor on credit to save my katukus,...but I could buy five of them with cash! That is just how messed up the system is. Think about it: that is really, really messed up!
Katie and I feel so blessed since we realized really what a credit score really is (debt). It has been so liberating to rid ourselves of that because it is just nothingness.
Why live a life trying get a favorable number from an entity that has no clue about you and who constantly change the rules of the game anyway? The sad part is, there is a way out of all of that, but people do not chose to take it. All I can say is, it is extremely liberating.