4chan

4261 readers

3 users here now

Greentexts, memes, everything 4chan.

founded 1 year ago

MODERATORS

[email protected]

1281

Anon on credit scores (sh.itjust.works)

submitted 1 year ago by dramaticcat to c/[email protected]

239 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 1 points 1 year ago (1 children)

I bought my land and house through owner finance, my debt was to a single individual.

That's cool and all, but it isn't practical if the person selling you the house also has a mortgage they need to pay off before moving. Shy of paying in cash, there's not a home in my city of Houston I could have managed that with.

I buy used cars only, either through owner finance or paid in full. No banks.

I mean, that's totally cool. But, again, it requires you to have a significant amount of cash on-hand and someone willing to sell a decent vehicle at a reasonable price. Possible, but certainly not trivial. And with the sheer number of dealerships and resellers and outright scammers in the business, its a minefield.

I have never had a loan from a bank.

Its certainly nice to have enough cash on hand to manage this trick. But good luck going to college without a parent's savings. Even city colleges charge you far more than a part-time high school diploma job brings in.

I did know a couple of people who were born into relative poverty and managed to be totally unbanked while having a relatively easy time of it. But they were both sex workers. Not a career for the faint of heart.

[–] [email protected] 6 points 1 year ago* (last edited 1 year ago) (1 children)

I mean, again, obviously it's not an option all the time. Just use common sense

As for the other points, I don't think this comment really required someone to come through and cite it and break it down like I was some sort of Jordan Peterson esque life advice coach. I was giving my personal experience on not using the credit system, simply explaining how I personally have avoided the subject, and making the claim that there are other avenues. It's not an essay, my dude. I'm not trying to sell anything to you. Again, just use common sense.

I just proved its possible, not that it's feasible for YOU. Again, not trying to sell you anything

[–] [email protected] -2 points 1 year ago (1 children)

Just use common sense

I don't think the issue is an absence of sense. What we've got is a massive asset bubble that benefits the financial sector. Very often, there simply isn't a good choice to make. You're either living in a slum at inflated costs or you're stuck living way out in the exurbs (where you'll be burning through your expensive car) or even potentially homeless.

You can be up to your eyeballs in debt despite making the "savvy" move at every turn.

[–] [email protected] 2 points 1 year ago

Okay? Again, I'm not trying to sell you anything, dude.

Kinda sounds like you live in a high cost of living area and are mad about it, and aren't smart enough not to go into debt trivially.

Also, my just use common sense comment was about you and your reading comprehension, it's a bit off today.