Quote:
Originally Posted by detroitm2
Right.. Lets just do it like the UAE does! If a bank gives you a loan, and you don't pay it, they throw you in prison.
I prefer our way. Just pay your bills on time and credit score wont matter after a while.. If you get a setback, you get a setback. You may pay a bit higher interest for a bit, but thats the price you pay.
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But why so complicated? Here and at home (AUS) the bank just look sat your income, looks at existing debts and looks at exposure to debt (credit limits unused) and checks if you've not paid debts in the past.
Boom, done.
You guys fuck around with this cockamamie formula and conditions that increase or hurt your credit rating and taking on debt to flesh out your score etc etc.
Since we opened a US office i have been gobsmacked by the level of just plain old disorganisation, unnecessary layers, jurisdictional overlap and general bullshit you need to hop through to get anything done in the states. And we are in red states!
The amount of paperwork to hire an employee is twice as much as in Ontario and it's run by idiots here.