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.
Right I feel like you’re all missing my point, I probably didn’t explain my thought process well.
The premise is that:
giving out loans involves risk. To make the risk worth while, the lender needs more upside(higher rate). The more unknowns, the more risk, thus higher rates.
My logic is that if lenders had more information then they would be better positioned to evaluate risk, thus borrowing could become less expensive for people that are less risky. This is due to competition between lenders for customers. On that, based on friends getting mortgages recently, it does actually feel like there is a decent amount of competition that space specifically.
I will admit that in one of the other threads someone linked to a study that proves this wrong for medical debt specifically.
Right I feel like you’re all missing my point, I probably didn’t explain my thought process well.
The premise is that: giving out loans involves risk. To make the risk worth while, the lender needs more upside(higher rate). The more unknowns, the more risk, thus higher rates. My logic is that if lenders had more information then they would be better positioned to evaluate risk, thus borrowing could become less expensive for people that are less risky. This is due to competition between lenders for customers. On that, based on friends getting mortgages recently, it does actually feel like there is a decent amount of competition that space specifically.
I will admit that in one of the other threads someone linked to a study that proves this wrong for medical debt specifically.
stop simping for capitol