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.
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.
Yeah they don’t understand more and more households are resorting to credit for so many purchases not because of frivolous spending, but because more people have to decide now between that or being homeless.
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.
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Sometimes credit is the only way I can pay my bills…
Yeah they don’t understand more and more households are resorting to credit for so many purchases not because of frivolous spending, but because more people have to decide now between that or being homeless.