There is a subsection of people in those that “don’t pay their debts” that can be described as “can’t pay their debts,” usually facilitated by the system.
Whether you don’t pay your debts by choice or not, the fact remains that not paying them demonstrates that you are risky to lend to. It makes perfect sense for people to not want to lend you more money if you didn’t pay back what you borrowed before.
Downvote all you like, but that’s the fact of the matter. Getting rid of credit scores will change nothing for people who don’t repay their debts, but it will harm those who do, because good borrowers won’t be able to prove that they have a history of repaying their debts, and will therefore be treated as greater risks than they actually are.
There is a subsection of people in those that “don’t pay their debts” that can be described as “can’t pay their debts,” usually facilitated by the system.
That’s not relevant.
Whether you don’t pay your debts by choice or not, the fact remains that not paying them demonstrates that you are risky to lend to. It makes perfect sense for people to not want to lend you more money if you didn’t pay back what you borrowed before.
Downvote all you like, but that’s the fact of the matter. Getting rid of credit scores will change nothing for people who don’t repay their debts, but it will harm those who do, because good borrowers won’t be able to prove that they have a history of repaying their debts, and will therefore be treated as greater risks than they actually are.