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Question By
JMDLT3

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How can my credit not improve if paying ALL debt?
Presently, I am paying down all of my debt rather than take the advice of fools and declare bankruptcy. I can't believe I am getting no credit in terms of improvement in my score. This is especially damaging since I am paying for a layoff that lasted nearly 2 years after having perfect credit since age 18. This country's credit system needs to be revamped to show payment plans and arrangements made by people of character and integrity. I was never a deadbeat and paid ALL my bills. I dispute ALL of the information including auto and home risk ratings. Are they based on nonsense?! Apparently!

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Top Contributor
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It's a crazy game...

I too, wanted to do what was morally right,  After the loss of a business in the 90's to a major fire I too felt the moral obligation to take on the debt an pay off my creditors.  It ruined my credit for years and has taken me 3 years to rebuild my credit once all the debt was paid off.  No one gives you credit for the fact that you try to do whats "right".   I was advised to file bankruptcy and just walk away, but we delt with small mom and pop types of business and i felt that it was only right that I make the effort to repay what we owed them, lest they end up in the same boat as i was in. 

What I have learned is that the "Credit Industry" and in fact financial institutions have no morals and they don't play the game on that level. Getting them to revamp the way they do things if a pie in the sky dream.  They have no incentive to do so, since they control everyone and everything with the almighty "Credit Score"  

A nessesary EVIL....  

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