Headless Man

Karma: 267169

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: 1144 Answers: 2 Posted: 13 years ago

Tags: credit

2 Answers

IamPamela313

Karma: 225060

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.

13 years ago. Rating: 7
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Headless Man

Why?

commented 13 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 13 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 13 years ago

IamPamela313

frightening uh...

commented 13 years ago

Headless Man