“CREDIT SCORE” Debacle

Our world has become a “Spinning Hamster wheel in Chaos!

I lived in Colorado, where our beautiful state has turned into a punitive, selfish and unconscionable life for those whose earnings are less than six figures.

There is no stone unturned in this upheaval, and the fault is not due to the Pandemic, it is human failure, particularly in the arena of “The Credit Score.” How the credit agencies obtained their figures.

Most sequential payments are not shown on these Credit Scores, these scores, have needlessly become a constraint on our ability to have the necessities in life. After speaking to multiple people who failed the Susie Orman course, this course has fueled the fire of the three irreverent Credit Score companies. Worse, the companies are primarily handled by out of country, with care-less attitude by their employees or strictly online venue, often garnishing incorrect information. We have NO Control over the scores, they are not easily managed, most important “incorrect!”

Experian has added “Experian Boost (!)” with limitations, that do not fit most individuals payment history! If you have rent or housing payments, they must be made online, or no score! They will not score your monthly payments made via checks nor ACH (automatic drafts) as credit worthy, albeit they are on time, possibly for years to financial institutions, none of which any of the three Credit companies, Trans Union, Experian and Equifax will ever see! These unseen factors control our lives inaccurately.

Worse in Colorado, any given person needing to rent an apartment or small house in an outrageous high cost environment, must fit into impossible criterias, as one of my bankers stated, “if it were not for his spouses’ income, he would be homeless, living in his car!”

3 times the rent income
Credit score of 680 to 700 plus, with no blips due to pandemic shut down or life
Rental history and references: many who have been home owners, are caught in this spinning out of control anarchy
The stream of 20 to 40 additional people applying for the same rental, causes despair.
Leasing agents collecting multiple applicant fees, never contacting applicants are duplicitous (see below).
Charging renters a monthly fee of $30.00 to $40.00 to report your excellent payment history. Or charging the renter an online fee “to pay the rent!”
Low cost Housing; SHAM! Discrimination at it’s ugliness – Section 8/vouchers or if a person was affected by the Pandemic shut down, ERAP, both conjures egregious biases.
There are a “Trifle” few understanding owners and leasing companies who see the problem and look beyond the insanity.

Thistle Corporation in Boulder demands payment by way of money order only with application! They offer a list of apartments off of Craigslist as potential available apartments, with a “criteria” of “ONE APPLICATION PER PERSON, FILING ONCE! NO PHONE CALLS!” their excuse; “We receive 100’s of calls daily!” Thistle never checks credit history that shows on file, nor has anyone obtained housing. Thistle is one of many fraudulent company Extorting funds from desperate individuals seeking housing!

Some “Low Cost Housing” features a demand in income of $50,000 to $65,000 per annum. In our recent past, an individual could purchase a home having this income base. Colorado’s rental cost has escalated into the top 8 highest of our nation. Our homeless rate has escalated; they are harassed – shamed – spat upon – shoved around from place to place, porta potties removed from homeless sites. Falling from grace, having an income position of $15.00 per hour; this amount will not pay the rent!

Retirees: Social security is no longer a security! 401-Ks given rising interest rates are being severely affected for those who depend on the income.

And with what I started off with: Susie Orman’s FICO score! Her books have made her millions, yet many deficient in passing the course, Orman’s courses has given too much clout to three reporting Credit agencies, who continually recount inaccurate figures. Not to mention any of the ID thefts, forgery, and ID fraud taking years to correct.

This is a world where humans are being sacrificed for being good humans, while not being millionaires. Fact: only 11% (percent) of women become millionaires to billionaires in our world, the rest are men! And single mothers?? where are they?
Most people opted for ACH or Debit card auto pay each month; it is FREE! These are not reported to Credit agencies, ergo low FICO scores. Yet ALL bills are paid on time.
Experian Boost ,only accepts limited Online payments while requesting access to your bank account, with limitations in their credit reporting!!

Our World has severe Climate problems – will there be Fresh Water to drink in five years? Over 150,000 species of animals of this Planet, once called home have gone extinct – Homeless and Hunger rates have escalated out of control – Homeless or Disabled people are not allowed to have bank accounts due to lack of funds in having an address, ergo no bank to have a “Disability Direct Deposit“ and no EBT cards for food, which now are in a severe fraud alert due to desperation.