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The point of credit scores isn’t to punish the borrower, it’s to allow future lenders to better gauge risk. No value is destroyed when you put a negative mark o
by mikeash 7y ago
The point of credit scores isn’t to punish the borrower, it’s to allow future lenders to better gauge risk. No value is destroyed when you put a negative mark on someone’s credit report.
Revoking degrees would be equivalent to burning down houses in foreclosure. Such destruction of value is obvious madness.
- nordsieck 7y ago> Revoking degrees would be equivalent to burning down houses in foreclosure. While I agree with your larger point, I think this particular bit is a little weak. A revoked degree can easily be un-revoked, while a burned down house needs to be re-built from scratch. This is why it is socially acceptable for schools to withhold transcripts for students who owe money to the school.
- deleted 7y ago[deleted]