The incident we are about to describe took place during 2009 circa at a party, a year in which the world was going through one of its worst financial crisis for the longest time. Every average bloke on the streets was aware of terms like mortgage-backed securities (MBS), sub-prime lending and credit crisis, after all these are the reasons for his plight.
But at this party we are speaking of, I was fortunate enough to meet with an informed and highly compassionate elderly woman, and after a few minutes of discussion the topic came to what we here do for a living. She wanted to know more about credit scorecard systems. As I further went on to explain the details of how this system works, her expression changed from being just plainly curious to angry to pained. Continue reading “Introduction To Credit Score Cards: Its Use in Crisis”
