Told my credit was ruined from a $35 library fine... actually worked out

2 comments

2 Comments

That happened to me but with a $50 medical bill that went to collections before I even got the bill. I was 19 and had no idea a doctor visit could mess up your credit like that. Three years later I went to buy my first car and got hit with a 620 credit score. Ended up paying almost double the interest rate on that loan. The whole system is ridiculous when a minor thing can tank your credit for years. At least you got a positive result out of it in the end. Nobody tells you how fragile credit scores actually are.

the_faith6d ago

My cousin actually had a similar thing happen with a $35 library fine that somehow ended up on her credit report. She didn't even know that was possible. It took her two years of fighting with the collection agency to get it removed. The worst part is that credit scoring models are totally opaque, so you never really know what's gonna hurt you until it already did. The whole system needs a major overhaul imo.