Credit Freeze Thoughts

by Michelle
(Salem, Oregon, USA)

I work in a business that is effected by the Credit Freeze. The main concern will be the holiday shopping season. Very few people will be spending on gifts this year. Most people have been using their credit cards to pay for food and necessities. When that resource isn't available, I'm not sure what they will do.

There are others that put off purchases because they may need the funds for something else later. I personally haven't bothered to apply for more credit. I have enough debt to pay back as it is. It will probably be two years before I consider applying for a loan and definitely not a credit card. Consumers might just see lending companies begging for customers after the Credit Freeze thaws out.

My opinion is that consumers will learn to get along without credit and decide they really don't need it. Many of them are offended that they're reduced to credit scores instead of people. If the Credit Freeze is to happen, we'll need to put some humanity back into the way we do business.

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