Last week I tried to talk about the various experts involved in debt collection and credit counselling. You know what? I forgot all about credit reporting agencies, otherwise known as Credit Bureaus.
I have worried for the longest time about credit ratings. There are many good reasons for my fears.
To begin with, credit ratings are based solely on mathematics – the days in arrears. You are judged in a moral way by being labeled with a good or bad rating. The reason for your problems doesn’t matter. Just the days in arrears.