Petition to Reform the current system of payment markes on consumer credit reports

ItsComingRome

neilperks said:

ItsComingRome said:

neilperks said:

ItsComingRome said:

eskbanker said:

ItsComingRome said:
Why are you continuing to fail to respond to my claim that this marker already exists?

To be fair, OP did already address that in earlier exchanges - as I understand it, OP accepts the existence of the 'settled' marker but feels that there should be an additional distinction between 'settled in accordance with a post-default agreement between lender and borrower' and 'settled at borrower's unilateral discretion', although it has been pointed out that the payment history should give enough of a clue if any prospective lender considers that such a differentiation was relevant.

Well, they could have just said that.

I agree, it doesn't matter.

What the OP wants is for their past misdeeds to be wiped, or forcibly ignored through legislation but neither of those things are going to happen.  There is nothing "unfair" about the current system, financial institutions are free to pick their customers, just as their customers are free to pick the financial institution they do business with, much like happens with every other business by and large.  Even if banks were forced to lend to defaulters, they'd either charge what the subprime lenders do or, if their misdeeds were erased, charge everyone else more to cover the increased cost of defaulting now their customer base poses more financial risk.  And that's hardly fair to those who maintain a positive credit history.

Thanks again eskbanker for eliquently summarising my proposal as it has evoved durin this forum

ItsComingRome you confusingly seem somewhat irritated by the absence of my response. so would like to say I'm sorry, especialy if you feel I haven't engaged with you in a similar pointed or combative tone which you indeed have in your comments.... there is no need or advantage to this form of discourse, I hope we can at least agree on that.

I appreciate your passionate responses and thank you for your extended time

And you're still failing to address the question.

Got to be a bot.

I love you x

Brilliant.

That still doesn't change the fact that this petition is useless.

Banks don't refuse to lend to defaulters because they don't know how things panned out post-default. They don't lend to defaulters because they don't want to lend to people who defaulted on their credit agreements.  They don't care what happened after, evidenced by the fact that satisfying the default won't change their lending decision.

This marker will not change that.

Thrugelmir

Unless MP's understand the issue. Pointless trying to petition a debate. 

DCFC79

Whats that saying, why fix it if it aint broke.