Judge nixes a Biden rule in order to keep medical debt on credit reports | CNN Business
Judge nixes a Biden rule in order to keep medical debt on credit reports | CNN Business
Americans’ unpaid medical bills will remain on their credit reports after a federal judge last week vacated a Biden-era Consumer Financial Protection Bureau (CFPB) rule that would have removed such debt.
For-profit healthcare is inherently unethical.
*evil
Anything to further class division.
Yeah, let's just ruin everyone's credit with medical debt so we can stop buying bullshit overpriced cars and accruing ludicrous quantities of credit cards. The main downside I see is if this acts as another barrier to home ownership. But then, of course, the banks will begin getting pissy if they can't loan to anyone.
I can only see this backfiring on the economy--theres only so much money allocated to people's pockets, and this is the federal government deciding that the medical industry gets to have a larger share of it.
bOtH SiDeZ
Judge could use an unscheduled leg amputation followed by a bath in sewage and HIV and hep C blood, then maybe they find out how easy medical debt grows
Federal judges are insured on the taxpayer dime.
denied! trumpidiotism is a pre-existing condition.
Are they? Do they not just have a (probably very robust) plan through their job like everyone else? I.e. taking money from their paycheck to pay for it? Of course having such a massive workforce would allow them to offer great insurance, I imagine.
I could be wrong, but I don't believe judges are on Tricare or anything like that.
just in time for everyone to get booted off medicare
great, creditors still know medical debt isn't worth the toilet paper it's printed on. You can buy hundreds of dollars of medical debt for pennies.
The tactics of class warfare these nazis will take is just… completely unsurprising. They need prison.
They need prison.
You're much too kind.
If a Nazi gets sent to prison, even if it's for life, the next spineless leader will just pardon them in the name of "unity" and "peace"
or use them in a rocket program.
Prison? Hah.
The accelerationist in me (who has gotten louder and louder lately) is saying "Whatever, it was just another band-aid on the broken system."
At the risk of being downvoted to hell. I agree. This rule never made sense as medical debt is a real thing and it does impact someone's ability to pay back a loan. The banks were never going to eat this cost, they were going to spread it to everyone else. The real problem is the cost of the medical care and with insurance. This is just something that sounded nice to the dem base.
Medical debt is in no way the same as other debt though. It's not the same as real debt. For one you're dealing with the cartel system that is medical insurance. So it's not a fair Marketplace to begin with. However the real kicker is you don't have a choice on it. Oftentimes you're injured and are brought to a hospital and you don't have time or the ability to call your insurances 24/7 helpline to figure out what the prices are and where what hospital you should go to. Medical debt is often involuntary and a matter of life and death. Not even mentioning the Absurd disgusting costs of it.
You simply can't compare it to someone taking too big of a loan for a car. And frankly saying well the real problem is something else doesn't really help actual living human beings. Because that real problem is not going to be solved and this could have helped people. You can't let this Pie in the Sky idealism stop us from helping actual people right now. Someone shouldn't die on the streets because you think an ideal should be achieved first.
Studies by the CFPB say you are wrong. Where is your evidence that you are correct?
Thanks for the link! Yeah it does seem like my understanding is incorrect here "CFPB’s research reveals that a medical bill on a person’s credit report is a poor predictor of whether they will repay a loan,"
My argument is a purely logic based one. Lenders make money by giving out loans, so it's against their interest to deny loans to people which are capable of repaying them.
So the finding is a bit surprising, but willing to admit I'm wrong here :)
Their feels