Do away with the credit score system
It seems the system we use is highly flawed. There's always mistakes on the reports, and no real way to fix them. My credit report still dosn't have my correct address on it.
anonymous
shared this idea
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HeckRuler
commented
You do realize that those are companies? The industry is regulated, but the companies that keep tabs on you are not part of the government. To do away with it you'd have to make the whole industry illegal. Something along the lines of: Conveying information about past dealings is illegal. So if you ever told anyone that someone didn't pay you back, you'd get fined.
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llundber
commented
Absolutely. The credit reporting agencies make far too much money off of citizens, and they are far too slow to act. Also, the credit does not take into account reasonable net worth and ABILITY to pay. And on and on.