this post was submitted on 25 Jan 2025
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I mean, you do you, but my mother took the same approach and she can't buy a car, gets routinely denied for apartments, and generally has zero trust with any bank. You don't have to like the system, but the only person you hurt by fighting against it is yourself.
It’s not a bad strategy if used sparingly. Derogatory notes fall off your credit report after 7 years.
I strategically defaulted a CC in early adulthood and by the time I needed a mortgage was back in the 800s.
Like @deegeese@sopuli.xyz says, I fairly strategic about it. It's mostly medical debt that can't even go on the credit report anymore and maybe a store credit card or 2 that was used to replace the AC. I also generally make sure to pay the bills to banks that are known to actually take people to court e.g. Capital One
Definitely the best country in the world.