Thursday, March 24, 2011

Am I right? With ffcloud321 Episode 3

So recently I was saving up to pay off some apartment debt, my entire reasoning for paying off the debt was to be able to rent a better a apartment.

After doing some research I discovered that even if I paid off the apartment debt it would still remain on my credit, and to get even stranger - leasing offices still will deny you for an apartment even after its marked as PAID!!

So if I don't pay the debt, in seven years it goes away, and I have limited options as to where to live....

If I do pay it, it still takes seven years to go away and I have limited options as to where to live...

Do you understand what I am getting at?
THEY GIVE ZERO INCENTIVE TO PAY DEBT?  I am going to be punished the same, if I pay the debt or not!! I am still in the same situation...
You would think the world would want to structure itself in a way that says, If you have debt its on your credit, as soon as you pay it , it goes off your credit....

TO be honest, this system of perpetual punishment , does not protect lenders and leasers from giving out fraudulent loans, as a matter of fact it insures that past due payments and consumer debt will NEVER be paid.

You have to reward people for being debt free, not punish them regardless.
Again, I strongly believe that the three credit agency's need to be done away with, or bought out and consolidated into one mandatory system that only reflects unpaid debts....nothing more nothing less.

If we don't streamline our credit system and make it (user friendly) then companies, banks  and investors are going to find themselves constantly loosing money.
Every citizen should be able to check their credit every hour of every day for free.
Credit should not have debts listed as paid, it should list only outstanding debts.
Equifax, Experian, Transunion are all businesses  that control an essential service to society, they have no obligation to act in  way that benefits America. Essentially they have a power that they should not have.

Get rid of the credit agency's and create a streamlined free credit service.
Do not allow profiteers to control how we buy homes,cars, and cell phones.
Am I right?