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K2011h

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Considering life without credit. What if I just drop out?
I'm exhausted with the whole system. I feel as though, due to the economy tanking and a divorce, that I should just sell my house (my ONLY debt), and pay cash from here forward! The financial institution makes me me as though I'm ****ed if I do, ****ed if I don't, so maybe it's best to just drop out.

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Actually, life without credit is not as easy as you think it might be, and I'm old enough to remember when only the obscenely rich had credit cards, then companies started sending out cards by bulk mail, and we now virtually have to have some sort of credit rating to get anywhere.  Some landlords check your credit so that, without a credit history, there is no way to rent an apartment.  Can you save up enough money to buy a car?  Do you currently have sufficient money in savings to meet any potential emergency with your car? 

Many companies require a credit card so that you can rent movies, or get cell phone service.  To plan a trip, you need a credit card to make motel reservations.  Just check around to see how much credit is really needed.

I used to think cash only was the best way but, thanks to the information I read here in the articles on this site, I did learn more about credit and have built mine up to a comfortable level, and I am a disabled veteran on a fixed income.

Don't drop out.  The end result may be far more difficult than what you're dealing with right now.  Please give it more thought and do more research before committing to such a drastic decision.   

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