That's one thing I don't worry about. A credit rating is only of concern if you are trying to buy something -on credit. Frankly, a bad credit rating would work to my advantage right now. Debt is not something I should be acquiring at this point in time. A really bad credit rating would take away any temptation to do something foolish.
That being said, my credit rating has come up a time or two in the past couple years. It's been good enough to get the job done. When your kids are in trouble, even your grown kids, you do what you can to help them out. If it involves having to actually borrow some money, so be it. Lawyers don't work on the barter system.
At least I'm dealing with the local credit union. It makes a big difference when you know the people and they know you. Can you imagine me going into a bank cold and trying to get a loan? How would this look to you: big long haired bearded guy comes out of the woods into the bank. He hasn't had a real job with taxable income since 1993. He claims to not spend hardly any money on utilities, fuel, transportation, entertainment and anything else that's considered normal. Good thing they know me at the local credit union. I got the loan to help out family members and they are fine now. It helps when the loan officer is on your side, gaming the system for you.
Looks like before the end of the year I'll have most of my debts cleared up again. After that, I'll slowly drop off the credit rating radar. Right after the debts are paid off, I'll probably look pretty good on paper. As the months slip by and I no longer have bills to pay, no doubt the credit rating will go away too.
That's fine by me.
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