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Google Allows Creditors to Brick Your Phone
(lemmy.world)
Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.
In this community everyone is welcome to post links and discuss topics related to privacy.
much thanks to @gary_host_laptop for the logo design :)
Oh nono no, the world is much worse than that:
If you make all your car payments on time except one, the bank can still repossess your car.
If you pay your mortgage or rent on time every time except once, the bank can initiate the process of eviction.
Remember: the power triangle points down
I paid off a car without ever being late, and they reported my account as unpaid and in collections at the end. They had no reason to do so and to this day I still don't understand why they did it. I contested it and the best I was able to accomplish was getting the entire loan removed from my credit report. So 2 entire years of on-time payments and satisfactory completion of a loan resulted in no positive credit boost for me, and a big PITA, just because the company made a mistake. Companies are not responsible enough to wield the type of power that this app grants.
Yes? That's why loans with collateral charge a lower interest rate than unsecured loans.
My point being that if said bank screws up whilst dealing with your loan, and you make a fuss to hold them accountable, the worse thing that happens to them is that they issue an apology.