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    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.

    +3  Views: 970 Answers: 2 Posted: 11 years ago
    Tags: credit

    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. 

    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.
    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!
    IamPamela313

    frightening uh...

    Are we in trouble or what?


    ""

    IamPamela313

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


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