How can us government can afford such largess, they should include disadvantaged communities somewhere
Kamala Harris announces the Biden-Harris plan to eliminate medical debt
as a consideration in credit scores
Seriously this has to be intentional
This is informally already a thing. Most lenders largely ignore medical debt so they can lend more and take in those sweet interest payments.
once again electoralism merely ratifies decisions already made by capital
Oh wow now you can get a loan you can’t afford while you’re buried under a mountain of medical debt you also can’t afford. Thanks Dems very helpful
But the new loan has less interest! See how progressive I am?!Here’s the thing: it’s working as intended. I think the intended path is to be so entrenched in debt as to be someone else’s problem that either 1) you have to go in on a whacky money making venture together or 2) die and leave all the assets to your children so they can then repeat the cycle on a grander scale. I don’t think being debt free is part of the wealthy equation.
Oh definitely. Interest on debt counts as GDP by the US metrics. More debt = more interest = higher GDP. It’s why one of the biggest contributors to GDP is the financial sector. The government has a vested interest in keeping as many people under as much debt as possible because it helps their donors make more money and helps “the economy” line go up . This is definitely just more of the same.
We won’t help you not die in the present but we will help you once you are no longer a temporarily embarrassed billionaire.
Lmao fuck Democrats are useless.
Cancel student debt, enact universal healthcare for all, regulate housing to prevent high rent. Even that is the bare minimum.
I’m sure the Apple News type apps will conveniently cut off these headlines at “eliminate medical debt” and leave out “as a consideration in credit scores”
Insurance companies are like:
So the dems decide to pre-emptively compromise:
It won’t affect your score, but it also won’t be discharged in bankruptcy. It’s only fair!but it also won’t be discharged in bankruptcy. It’s only fair!
when we went to get a mortgage (we lucked out it was right before the real estate price explosion) the mortgage company basically said medical debt didn’t count
they just pretended like it didn’t exist because they considered it fake
so what is this just formalizing this or something? i mean the whole thing is a joke
also with the way various insurance industries are collapsing left and right i think the funniest outcome would be for the entire health insurance industry to collapse, be nationalized, and de facto made into a nationalized system because theres simply no profitability anymore. similar to where home insurance is going
‘Progressives’ be like
I don’t want to know whatever the fuck is going on in that picture but can you at least put it as NSFW?
Why would it be put at NSFW?
My brain is cooked dawg, don’t mind me
Lmao this system as it currently functions is like “ha ha your pancreas exploded when you are poor banks will never allow you access to a mortgage” and people aren’t fully ready and willing to burn the entire thing down to the foundation. Americans are so cucked.
hahahaha she’s taking credit for that huh
As other people pointed out, it is informally disregarded, and actually became a minor talking point earlier this year
But even with the changes, some 15 million people — many of them living in low-income communities and in the South — still have medical bills in their credit files, the Consumer Financial Protection Bureau reported. Rohit Chopra, the bureau’s director, said in a statement that “further reforms” were needed to scour medical debt from credit histories. The bureau is considering a rule to ban medical debt from consumer credit files.
The proposed rule in question is quite literally for that
The Consumer Financial Protection Bureau (CFPB) today announced it is beginning a rulemaking process to remove medical bills from Americans’ credit reports. The CFPB outlined proposals under consideration that would help families financially recover from medical crises, stop debt collectors from coercing people into paying bills they may not even owe, and ensure that creditors are not relying on data that is often plagued with inaccuracies and mistakes.
The CFPB bill sounds better than this garbage they’re trying to attribute to Harris lmao, so either they didn’t get all the details before trying to place it at her feet or she is trying to do something and it’s even less substantial than this.
pretending the problem doesn’t exist by not having it reported. This is a nominal way of improving your credit score, but goddamn what a bunch of stupid cowards.
Yeah. As AernaLingus noted
Kamala Harris announces Biden/Harris plan to eliminate medical debt
as a consideration in credit scores
idk, video seems old (or dems are nuts, because she is still talking about child tax credit cutting poverty in half)
Looks to be from this June
The ‘fact sheet’ at least attributes it correctly, this account just seems dedicated to worshipping her and did not bother to actually incorporate the details
So yes, liberals are crazy for trying to use that expired ‘Tax Credit’ still lmao
5 fucking
If your medical debt occupies the same set as the manifold of real numbers as your credit score, and is continuous along all boundaries, you will receive a voucher that grants one small business to the holder during period of which your student loan is non-delinquent.
Working-class people should avoid loans like a plague.
The only (individual) people whom loans benefit are capitalists, landlords, and the like, as they can spend money to increase their incomes, meaning that they can take a loan and end up with more money than they need to pay specifically as a result of taking said loan.
Thoughts on mortgages (if one can afford them, of course)? Seems to me like the interest is a smaller price to pay than rent if you don’t intend to move for a while
Thoughts on mortgages (if one can afford them, of course)?
Depends, but yes, there is a case for it. At least arguably, the same applies to student loans in places where you are basically forced to take them to get educated (I am fortunate to live in a saner place - I didn’t pay anything for my education, and was, in fact, paid (a tiny amount) to study).
Nevertheless, loans are generally very bad for working-class people, and should be avoided when possible and when the alternatives are not even more costly.Seems to me like the interest is a smaller price to pay than rent if you don’t intend to move for a while
In this case, you are lowering your expenditures elsewhere, so, in that case you do benefit.
Breaking : In a massive announcement I plan to take a shit. Retweet so all burgerland will see this.
Credit payments are just more debt
