Are Credit Rating services a De Facto discrimination on the poor and unfortunate?

This is 100% false. Who told you this ?

 

I don't believe 'debtor's prisons' exist anymore.

 

http://www.assetprotectionsociety.o...50-State-Creditor-Exempt-Asset-Chart-2013.pdf

 

https://www.aclu.org/issues/racial-justice/race-and-criminal-justice/debtors-prisons

 

I went to your link. At no point does it even remotely substantiate any claim that you have made to me. Were you hoping that I wouldn't bother to look ? Why did you post that link ?

 

Didn't you see that in some states houses are only protected up to $10,000?

 

Don't you know? Don't you even know? They think money is free.

 

I don't care.I make money and pay cash.

 

Didn't you see that your chart was referring to Life Insurance and Annuities ? Don't you know that we are talking about medical bills ?

 

If you can find a better reference, have at it. My post was my opinion; there is always the remote possibility it was not totally applicable.... I live in a state that is actively incarcerating men that do not make their court-ordered support payments and then making them pay up via work release programs....

 

For starters, I didn't make the erroneous claim that people that don't pay their medical bills are put in jail, YOU did. After being cajoled to prove your claim, and clearly after not being able to do so, you provided a bogus link and now tell me to go find something to prove your claim. That isn't how it works.

Failure to pay child support after a court order is treated as contempt of court, which is what makes it a criminal offense. Failure to pay a medical bill is NOT contempt of court, and is NOT a criminal offense. Trying to use child support to bolster your argument about unpaid medical bills is nonsensical. . You can bankrupt on a medical bill, you cannot on child support. They are two entirely different animals, and not even remotely comparable.

NOBODY is put in jail for failure to pay a medical bill.

 

No. Don't spend money you don't have and you won't have a credit problem, nor a credit rating problem.

Now, did Standard & Poor's give AIG a Triple-A credit rating because it was being discriminatory as it knew that AIG would ultimately fail and be in desperate need of a government handout? AIG ran a business model it had no business running and failed as a direct result. Credit rating or no credit rating. Likewise, individuals run personal balance sheets that don't make any sense and when the snowballing effect starts do not have sufficient assets in the form of personal income to correct the problem internally.

There is no discrimination in that kind of personal financial insanity. But, this does not apply to only poor people. Donal Trump, filed bankruptcy mutliple times and skipped out on his creditors mutliple times as well - on his way up the "ladder of success."

 

Yes, that approach is not very pragmatic.

 

So, die instead of emergency surgery. Don't buy, EVER, rent. Don't buy a car, you MUSt lease. Don't go to college unless you are some rich kid legacy? Don't have children, unless you already are established, not like all parents, including yours?

And, you can NEVER ESTABLISH credit, till you already have it.

 

Even if they are court ordered to pay? That would then place them in contempt of court if they did not, which is why their access to high powered attorneys can be troublesome when ordinary people are up against them.

The fear around unpaid hospital bills leads me to believe that my take on this is correct.

 

YOU are the one spreading fear around unpaid hospital bills. There are a lot of people like you. You are an army of people that don't actually know what you are talking about, but yet deep down you are just sure that because other people are spreading fear, that it simply MUST be true. What you don't realize is that you are creating your own echo chamber and then believing the echo. You cannot be put in jail for an unpaid medical bill. For that matter, an unpaid medical bill is not treated as harshly as other debts in the calculation of your credit score. On top of that, this talk of high paid attorneys and debt collections is fictitious. Hospitals aren't the ones that collect debt, they sell it off to 3rd parties very early in the process. The collection rate on medical debt is shockingly low, like 20%. They sell it to debt collection agencies for pennies on the dollar.

 

So, if you had money, you wouldn't want to know that some scum defaulted to multiple creditors before you handed him cash, or some type of credit dependent on them paying?

Such one sided perspective.

Sent from my SM-G925V using Tapatalk

 

Child support is like totally different than other debts, it is one of the few things they can garnish Social Security over.

I don’t think you have to worry too much about hospitals, they are nicer, and might let you pay $10 a month for…life, like someone I know. If you pay the bill with a credit card you should worry, they are not in the business of saving lives, but are in the business to suck your unknowing hide on the invite of one.

I do not know about every State, there is always a possibility laws could change too and become draconian.

In a fit of anger, over household debts I had no knowledge or consent to, due to a third National Treasure Sweepstakes vampire blood bank in the attic, I cursed the United States to a thousand years of Obamanation, then got divorced after more than 30 years of marriage. I once cursed Eastern Airlines too, so you might not have to worry about the Republicans or Libertarians during your lifetime. {A little humor}

Now that a whole new market of cattle has opened up for the vampires to suck, on the invite of one, due to gubermint fiat, the amount of blood they need to drain to subsidize small business loans may be less for straight married households. Moreover, if they end discrimination they could free up even more cattle.

 

i used to have a charge card and pay "cash", monthly.

 

Lending money is a VALID purpose for rating. THAT ALONE. OTHERWISE, if for instance, NEGROES were more likely to be whatever, you could SURCHARGE THEM for their color etc.

 

You don't have to by on credit. No one is forcing you. I know you thought you were smart when you dropped out of school. Need money? Go ask one of your baby mommies.

 

As a former slave--who by law only existed as a "consumer" for FAIR DEBT COLLECTION PRACTICES not for knowledge and consent before a funny National Treasure Sweepstakes (two Capital One cards, two Discover cards, and two Chase cards…) hidden in the attic--I take offense at that.

“You have probably caught that Visa credit card commercial in which a wily wife hides her many shopping sprees under the bed and up in the attic, all out of sight from her clueless husband.
The punch line is that she could have won all that stuff she rung up on the plastic. But the reality behind such behavior is hardly a laughing matter.” (Rene a. Guzman, San Antonio Express-News Jan. 12, 2005 12:00 AM)

In my area if you put a Security Freeze in place, $10 per agency, at the advice of the secret service, you will have to lift it to get an account at the electric company.

You don’t have to buy on credit, but it is an irrefutable fact that if married you have no rights to not be a consumer due to hypocrite inhuman DEMOCRAT Vamps who are afraid to make a spouse (who does not have own income to pay) get permission from the bread winner for a credit card.

WARNING: gratuitous violent posting in 5, 4, 3, 2, 1:

“Amendment Allows Consumers Who Are 21 or Older to Rely on Accessible Income for Credit Card Applications

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) updated existing regulations to make it easier for spouses or partners who do not work outside of the home to qualify for credit cards. Today’s amendment, first proposed by the Bureau in October 2012, allows credit card issuers to consider income that a stay-at-home applicant, who is 21 or older, shares with a spouse or partner when evaluating the applicant for a new account or increased credit limit.

“Stay-at-home spouses or partners who have access to resources that allow them to make payments on a credit card can now get their own cards,” said CFPB Director Richard Cordray. “Today’s final rule is an example of the Bureau’s commitment to working with consumers and financial institutions in order to ensure responsible access to credit for American families.”

The Credit Card Accountability Responsibility and Disclosure Act (CARD Act) became law in 2009. The CARD Act requires that card issuers evaluate a consumer’s ability to pay before opening a new credit card account or increasing a credit limit. Under current CARD Act regulations, a card issuer generally may only consider the individual card applicant’s independent income or assets.” http://www.consumerfinance.gov/news...ome-spouses-and-partners-to-get-credit-cards/

See the FED ruling:

“The Federal Reserve's rule told credit card companies that they no longer can consider household income when assessing the creditworthiness of an individual who applies for his or her own card. Under the rule, only an individual's own salary or other income -- rather than combined household income -- can be considered.”

Read more: http://www.creditcards.com/credit-c...cards-household-income-1282.php#ixzz3WiwAm9JK

See the reason to oppose it:

“Opposition from CARD Act authors
U.S. Reps. Carolyn Maloney, D-NY, and Louise Slaughter, D-NY, both among the principal authors of the CARD Act, said the rule "goes beyond the intent" of the law and "represents a serious risk for women in abusive domestic partnerships."

"Women trapped in abusive marriages may be unable to work due to a controlling spouse, a hallmark of relationships characterized by domestic violence," Maloney and Slaughter told the Federal Reserve in a letter as it was considering the rule. "The availability of an independent credit card may represent her best chance at establishing independence and a path out of a dangerous relationship."

After the rule was announced, Maloney and Slaughter said they would be studying its implementation and would report any problems to the new federal Consumer Financial Protection Bureau, which could write its own rules beginning in July.”
Read more: http://www.creditcards.com/credit-c...cards-household-income-1282.php#ixzz3Wivmh5r8

Neither Feeney or Kosmas responded to this:

"No creditor shall issue debt to any household which could exceed a 36% debt to income ratio, without the written knowledge and consent of both spouses or domestic partners in the household and each and every creditor the household already owes."

 

Never heard of credit score being looked at for rates. When did this start happening?

Yes, yes they are. And if you get a job dealing with company money, then they may want some proof that you are responsible enough to have an object that can utilize the company money. There are plenty of jobs you don't need any credit score check for be hired.

Yes, someone loaning you money for housing is giving you money and want to ensure you have a good track record to pay it back. If you are talking about an apartment, someone is giving you a product that needs to be maintained and you pay for it monthly. They don't charge you more if you have bad or no credit, but they do usually expect a higher security deposit which can be refunded when you leave.

Actually, you don't really need a credit score. Its called, "Don't buy something you cant afford". House, car, trips, whatever you want, you can save for and pay for with cash instead of using credit. Things actually cost less when you do that as well.