comp assignment.2 - spree at the mall From my paper I am...

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The topic for my final paper I picked was “credit scores are a fair measure to help lenders estimate potential risk.” This is an idea I do not agree with. I feel that while a person’s credit score may give the lender a glimpse of my past, it doesn’t tell the whole story. My point of view is of a person who didn’t always make the best choices, but as I got older I grew more responsible. It takes years to improve your credit score, I know this first hand. I didn’t plan on becoming someone with a low credit score, but life happened. I lost my job, found out I was pregnant, lost my apartment, and much more. These events caused me to default on my payments. I wasn’t just charging debt and not paying, my household bills were what I was defaulting. I have since been working very hard to pay off all my debt. A lender most likely will look at my credit score and turn me down. Not looking at the actual debt to see that it was household bills, not a shopping
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Unformatted text preview: spree at the mall. From my paper I am hoping to make people realize that just looking at someone’s credit score is not a fair assessment of risk. Just because as young adults some of us made financial mistakes doesn’t mean today we do the same. Most of us have jobs if not careers and a family. This means we are going to work twice as hard to make sure we make any payments due so we can keep the nice things we have for our families. Another point to remember is maybe we didn’t run up our credit. Sometimes our credit score is so bad because of fraud. Someone used our personal information to rack up bills and not pay them. In these cases people may not even realize this has happened until they are applying for a car or home loan. Is is right to punish them because someone else broke the law? I am hoping my paper makes everyone think twice before jumping to conclusions regarding credit....
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