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    3. IF THE "Debt Ceiling Talks Collapse" WHY WOULD MY CREDIT BE AFFECTED?
    IF THE "Debt Ceiling Talks Collapse" WHY WOULD MY CREDIT BE AFFECTED?

    I have good credit if a family member went bankrupt it would not effect me so why is this different.

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    +3  Views: 1241 Answers: 2 Posted: 14 years ago
    Tags: credit
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      2 Answers

      Rising the debt ceiling has nothing to do with your personal credit, it's about the USA maintaining our triple A credit rating.  Where it does effect your personal credit, is that  you will have to pay high interest rates. 

      14 years ago. Rating: 7
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        Headless Man

        Why?
        commented 14 years ago
        IamPamela313

        If the USA credit rating goes down, the USA will have to pay a higher interest rates to borrow money. Which in turn will have a ripple effect all across the markets and it will trickle down to us.
        commented 14 years ago
        Headless Man

        If the interest rates would go up that would slow down the economy thus less taxes and less to the government.
        Does anyone know what they're doing!
        commented 14 years ago
        IamPamela313

        frightening uh...
        commented 14 years ago

        Are we in trouble or what?


        ""

        14 years ago. Rating: 3
        Comment this answer

          IamPamela313

          Yes, it's sad. The burden is on the backs of the middle-class and poor families.
          commented 14 years ago


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