Originally Posted by
IBPilot
so let's say someone's credit isn't stellar. Not because they are irresponsible but because of lack or credit, immature credit etc. He gets charged higher rate because OTHER people with his credit rating have failed to pay, not because HE is not expected to pay back. If he wasn't expected to pay back he wouldn't been given the loan in the first place.
I had a high credit rating before I had no money to pay my payment.
If you are saying that everyone who has a high credit rating is now paying high interest rates because people like me who had high credit ratings have defaulted... well, that doesn't make any sense.