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re: NYT: study: cancelling people’s medical debt has no impact on their financial situation
Posted on 4/23/24 at 7:16 pm to HailHailtoMichigan!
Posted on 4/23/24 at 7:16 pm to HailHailtoMichigan!
Can’t most medical debt just be ignored? Most states don’t allow you to be sued under a certain income limit, and ERISA protects most retirement assets up to like $1M which is way more than any perma-ill jabroni would have anyway
3
Posted on 4/23/24 at 7:20 pm to PrecedentedTimes
That’s the gist of the article
These charities are buying up the cheapest debt, aka the debt that hadn’t been paid in years
These folks already weren’t paying it, so paying it off for them makes no change to their life
The risk of these debt cancellation charities is that is makes bad debt less costly, so you get more of it
These charities are buying up the cheapest debt, aka the debt that hadn’t been paid in years
These folks already weren’t paying it, so paying it off for them makes no change to their life
The risk of these debt cancellation charities is that is makes bad debt less costly, so you get more of it
Posted on 4/23/24 at 8:32 pm to PrecedentedTimes
Garnishment and levies also aren't allowed in many jurisdictions for unsecured debts, which medical debts are. The medical provider can sue and get a judgment, but it's a piece of paper.
Posted on 4/23/24 at 10:42 pm to PrecedentedTimes
If you ignore it you will screw up your credit. Makes it very hard to buy something like a car or house.
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