What If Credit Were Much Easier? |
By Lance Winslow |
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What if getting credit was much easier for all people? What if minorities had equal access to credit and similar rates of interest and payment structures? What if getting credit was much easier for anyone? What if anyone could get the credit they need?
If more minorities got credit easier, some banks wonder if they would pay back the money; if they didn’t would that mean interests rates would go up for everyone else because the money would need to be made back somehow?
Are minorities more likely to pay back their loans or less likely? Does it matter which minority segment? Which ones are more likely to pay their loans back then white males? Are loan defaults more likely with folks with less education or more education?
Does the percentage of employment per ethnic segment matter in the repayment of loans? Are minorities more likely to pay off car, home or credit card loans? Are bad debt percentages similar to white males?
Since it appears that white males have previously been given better interest rates in the first place, would this mean their loan repayment percentages are skewed to favor them in the future? Are the people who study these things looking a all the reality of white males in their repayment of loans and their credit worthiness?
What are all the facts of this issue; political correctness aside, what is the real truth on credit? And what if credit were equally as easy for all people in every civilization? Think on this. |
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