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.
    • @pineapple_pizza
      6•6 hours ago

      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 :)

      • @Alaik@lemmy.zip
        2•6 hours ago

        I mean I guess it makes sense. You have an accident and suddenly went into debt for 500,000 dollars. You need to replace your car also. You certainly could afford a 400 dollar a month car note. You most likely can’t afford the 2000/month to pay it off in 20 years.

        There hits a point of so far beyond reasonable that you just start saying fuck it and don’t even try.