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Most people on HN exist in a very different world from the unbanked population. Credit scores mean nothing to these people. Many can't even get approved for a c
by il 12y ago
Most people on HN exist in a very different world from the unbanked population. Credit scores mean nothing to these people. Many can't even get approved for a checking account and rely primarily on cash equivalents and prepaid products.
- jisaacks 12y agoThen wouldn't these individuals not even care to pay f their debt at .10 to the 1.00?
- Broken_Hippo 12y agoSometimes getting rid of the debt means that you can begin to restart. Of course, it won't help you afford a non-free checking account nor pay bills, but it can lead to marginally better jobs and nicer housing for the price. Sometimes that price is worth it because it brings a bit more piece of mind - no more phone calls and letters. A good number of unbanked aren't even as poor as you might expect - things have happened and they can't get to a point to restart. And some people, no. No they wouldn't care. Like most people, it depends on life situation.
- encoderer 12y agoThe median credit score is over 700. The people you're talking about are certainly toward the left edge of the bell curve.