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Well I recall the credit limitations when my wife and I lived in Harlem in public housing as graduate students in the early 1960s. One simply could not get credit with an address there -- Macy's to banks. Thus, people were prey to credit monsters. One could buy a TV at $10 per month for a $100 set -- but one paid that $10 for life! Red lining was the name of the game (Banks simply would not grant loans or mortgages in such areas and much of West Harlem was and is fine real estate -- town houses to apartment buildings.). The upshot was that the latter were subject to slum landlord operations that let them deteriorate and the former were destroyed by demolition outfits that made their monies creating neighborhood garbage dumps. My wife has been quite instrumental in both halting the demolitions and publicizing the high quality of the real estate there. Now the problem is gentrification which drives out the poor folks and brings in the prosperous -- both people and institutions. Columbia is trying to grab an 18+ acre location along 125th St. -- driving out residents and businesses there -- to construct a biotech research complex -- big bucks anticipated in that burgeoning field. And so it goes on. Best. Ed
Jon Abolins wrote:
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Ed, thank you for the comments on the topic. You're right about discrepancies in the records. Also the records lack crucial details about the record. Among them is the variations of terms for various jurisidctions. Etc.
One clarification for my earlier posting. Regarding the check of credit records, I mentioned that many people living in poverty don't have credit history other than paying rent or utility bills. This is a tad oversimplified and inaccurate.
If the person is not the rent/bill payer in the household, there may be NO credit history at all. In the USA, having no credit history can be as damaging as having poor credit history, especially if one isn't in nice marketing target niche (such as being a college student).
While I mentioned the problems the credit score play in police recruiting of minorities, there are other ways in which the credit score can adversely affect minorities. One of them is the lack of credit options except ones that are problem laden. E.g. payday loans, rent-to-buy, subprime loans, etc. These can worsen the situations.
J.D. Abolins
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-- "A war is just if there is no alternative, and the resort to arms is legitimate if they represent your last hope." (Livy) -- Ed Kent 718-951-5324 (voice mail only) [blind copies] http://groups.yahoo.com/group/CollegeConversation http://groups.yahoo.com/group/PeaceEfforts http://groups.yahoo.com/group/EndingPoverty http://groups.yahoo.com/group/440neighborhood
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