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Why a Falling Credit Score is Not the End of the World

http://www.getrichslowly.org/blog/2011/08/28/reader-story-my-falling-credit-score-and-why-its-not-the-end-of-the-world/

Reader Story: My Falling Credit Score (and Why It’s Not the End of the World)

I used to think a credit score was all about your ability to pay, but it’s clear now it’s more about how profitable you will be to banks

via www.getrichslowly.org

You know what? I agree!

This article does a great job of explaining, in real life events, the rise and fall of the credit score. I personally believe that your credit score isn’t worth anything anymore. The banks may think so, but they aren’t lending anyway – so who cares.

Awful to say it, but if you have your home, your car, the things in life you already need, maybe your credit isn’t worth it’s weight anymore.

This is why so many people have finally made the BUSINESS decision to foreclose or short-sale their homes. Why bother paying off the debt, if you score doesn’t matter anyway?

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PLEASE NOTE: As of late Aug 2018 there was a proposed law change that would disallow a double deduction for these charitable credits at the federal level for contributions made after Aug 2018. You are still eligible for the AZ state tax credits as the change would only impact your ability to take them as charity donations at the federal level.
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