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In which countries can you default on a loan and then go get another one like it never happened? Sure it might be the state hosting the mechanism instead of a p
by closeparen 7y ago
In which countries can you default on a loan and then go get another one like it never happened? Sure it might be the state hosting the mechanism instead of a private company, but that mechanism is pretty important.
- bonoboTP 7y agoYeah, if you default on it and there's a court decision etc. then it gets recorded in a government system and you are on a blacklist. It's quite different and a lot less fine-grained than feeding all your credit-related and non-credit-related history into some ML model to estimate your credit worthiness.
- closeparen 7y agoSure, and nationalizing or limiting the scope of credit reporting are both fine ideas. It is still a third party collecting a fact about someone and repeating it to others, to the data subject's detriment and against his will.