MORE Credit Score Inflatn
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MORE Credit Score Inflatn (by TonyT [PA]) Jul 1, 2022 2:09 PM
       MORE Credit Score Inflatn (by Roy [AL]) Jul 1, 2022 3:16 PM
       MORE Credit Score Inflatn (by David [MI]) Jul 1, 2022 3:53 PM
       MORE Credit Score Inflatn (by Sisco [MO]) Jul 1, 2022 4:02 PM
       MORE Credit Score Inflatn (by WMH [NC]) Jul 1, 2022 4:09 PM
       MORE Credit Score Inflatn (by David [MI]) Jul 1, 2022 4:17 PM
       MORE Credit Score Inflatn (by MC [PA]) Jul 1, 2022 5:52 PM
       MORE Credit Score Inflatn (by wmh [NC]) Jul 1, 2022 6:05 PM
       MORE Credit Score Inflatn (by David [MI]) Jul 1, 2022 6:35 PM
       MORE Credit Score Inflatn (by Roy [AL]) Jul 1, 2022 6:55 PM
       MORE Credit Score Inflatn (by Sisco [MO]) Jul 1, 2022 7:32 PM
       MORE Credit Score Inflatn (by John... [MI]) Jul 1, 2022 8:31 PM
       MORE Credit Score Inflatn (by Small potatoes [NY]) Jul 1, 2022 11:30 PM
       MORE Credit Score Inflatn (by MikeA [TX]) Jul 2, 2022 12:58 AM
       MORE Credit Score Inflatn (by Ken [NY]) Jul 2, 2022 10:17 AM
       MORE Credit Score Inflatn (by Oregon Woodsmoke [ID]) Jul 2, 2022 11:23 AM
       MORE Credit Score Inflatn (by MC [PA]) Jul 2, 2022 1:40 PM
       MORE Credit Score Inflatn (by John... [MI]) Jul 2, 2022 3:25 PM
       MORE Credit Score Inflatn (by John... [MI]) Jul 2, 2022 3:26 PM
       MORE Credit Score Inflatn (by David [MI]) Jul 2, 2022 4:12 PM
       MORE Credit Score Inflatn (by zero [IN]) Jul 2, 2022 5:17 PM
       MORE Credit Score Inflatn (by WMH [NC]) Jul 2, 2022 5:19 PM
       MORE Credit Score Inflatn (by David [MI]) Jul 2, 2022 6:33 PM
       MORE Credit Score Inflatn (by David [MI]) Jul 2, 2022 6:36 PM
       MORE Credit Score Inflatn (by Barb [MO]) Jul 2, 2022 7:51 PM
       MORE Credit Score Inflatn (by Nicole [PA]) Jul 5, 2022 9:01 AM
       MORE Credit Score Inflatn (by Sisco [MO]) Jul 5, 2022 11:03 AM
       MORE Credit Score Inflatn (by TonyT [PA]) Jul 5, 2022 11:59 AM
       MORE Credit Score Inflatn (by WMH [NC]) Jul 5, 2022 12:29 PM
       MORE Credit Score Inflatn (by TonyT [PA]) Jul 5, 2022 12:58 PM
       MORE Credit Score Inflatn (by mike [CA]) Jul 7, 2022 11:52 AM
       MORE Credit Score Inflatn (by mike [CA]) Jul 7, 2022 11:59 AM
       MORE Credit Score Inflatn (by TonyT [PA]) Jul 7, 2022 4:53 PM
       MORE Credit Score Inflatn (by TonyT [PA]) Jul 7, 2022 4:56 PM

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MORE Credit Score Inflatn (by TonyT [PA]) Posted on: Jul 1, 2022 2:09 PM
Message:

I swear a score of 720 today is about 600 when I started 20 years ago. This is in today's news and the last line is a killer:

Some people across the country could see their credit scores improve as quickly as July 1st.

The countryís three largest credit reporting firms Ė Equifax, Experian and TransUnion Ė will stop including medical debt that went to collections on credit reports after it has been paid, CNBC reported. It previously could remain on the record for seven years.

Also, consumers will get a year, up from six months, before unpaid medical debt appears on credit reports once it is sent to collections. Credit bureaus will also stop including any debt that is less than $500. --74.99.xxx.xxx




MORE Credit Score Inflatn (by Roy [AL]) Posted on: Jul 1, 2022 3:16 PM
Message:

Tony,

A 1 hour visit to the emergency room for X-rays only can easily cost $6,000.00. If an ambulance took you there, add another $1,000.00 to the bill. If an Air Ambulance (helicopter) carried you there, add $15,000 to the bill. Many people without insurance can't handle these type of sudden outrageous medical expenses and these unpaid bills eventually end up on their credit report.

So, it is what it is. Plus, I have quit using Fico scores to measure applicant's ability to pay rent.

--71.207.xxx.x




MORE Credit Score Inflatn (by David [MI]) Posted on: Jul 1, 2022 3:53 PM
Message:

a responsible tenant would have health insurance --50.4.xxx.x




MORE Credit Score Inflatn (by Sisco [MO]) Posted on: Jul 1, 2022 4:02 PM
Message:

I donít understand what the purpose of not reporting a non payment of medical bill vs. any other debt. You pay as agreed, pay late, or do not pay. It is what it is.

I read an accompanying story to the development, people that couldnít pay a $30 medical bill and other similarly minuscule amounts. This has been my experience in reviewing applications, people refuse to pay any amount for medical services no matter how small.

We would need far fewer physicians if direct pay becomes the norm. --149.76.xxx.xxx




MORE Credit Score Inflatn (by WMH [NC]) Posted on: Jul 1, 2022 4:09 PM
Message:

You don't "agree" to pay medical bills. You get sick and you are forced to pay whatever they want to charge, and they can't/won't even tell you the price beforehand. They bring you an aspirin and it's $100.00.

It's redamdiculous.

I don't use credit score I use the report. And I disregard medical bills already.

--50.82.xxx.xxx




MORE Credit Score Inflatn (by David [MI]) Posted on: Jul 1, 2022 4:17 PM
Message:

WMH, we LLs also have high arbitrary charges buried in the lease. I do not want a tenant who either REFUSES or is UNABLE to pay medical bills, or racks up HIGH bills due to chronic illness. It is a red flag. --50.4.xxx.x




MORE Credit Score Inflatn (by MC [PA]) Posted on: Jul 1, 2022 5:52 PM
Message:

I get it-medical costs suck BUT to have X amount in collections and no payments is a problem for me. Some were under $100. Granted some of our people move around so it might be hard to find them. It does not mean the bills should be ignored. Then why would anyone pay them if they don't count? --73.230.xxx.xx




MORE Credit Score Inflatn (by wmh [NC]) Posted on: Jul 1, 2022 6:05 PM
Message:

Gee I don't have "high arbitrary fees buried" in my lease, David

HIGH bills don't have to come from CHRONIC illness. One good accident and you could have $100k or even $100M in medical bills, 20% of which are probably your responsibility, depending on your policy.

--50.82.xxx.xxx




MORE Credit Score Inflatn (by David [MI]) Posted on: Jul 1, 2022 6:35 PM
Message:

Insurance has out of pocket annual maximum --50.4.xxx.x




MORE Credit Score Inflatn (by Roy [AL]) Posted on: Jul 1, 2022 6:55 PM
Message:

I agree with WMH,..charges for hospital services are forced on people and you are required to pay whatever insane cost they say. Imagine getting billed a $100.00 for 1 aspirin. You either pay it or we will destroy your credit rating. With bigger unpaid medical charges, we will force you to declare bankruptcy.

--71.207.xxx.x




MORE Credit Score Inflatn (by Sisco [MO]) Posted on: Jul 1, 2022 7:32 PM
Message:

Imagine someone owing under $1000 for years, never paying their debt.

I donít think they will pay me either, I donít want to deal with them.

Roy, W, you focus on the bill that the applicant CANNOT pay, I have seen such a credit report 4 times in 30 years of reviewing credit reports.

What I have seen hundreds of times are small charges that the applicant WONT pay. --149.76.xxx.xxx




MORE Credit Score Inflatn (by John... [MI]) Posted on: Jul 1, 2022 8:31 PM
Message:

We've been ignoring significant medical debt on reports for a few years now -- if that is the only bad part of the report.

Small charges would be different. And, again, we're only ignoring a big medical debt when it is the only negative on the report.

--24.180.xxx.xx




MORE Credit Score Inflatn (by Small potatoes [NY]) Posted on: Jul 1, 2022 11:30 PM
Message:

medical costs can surprise people even w insurance like when you get a bill for the anesthesiologist who isn't in your network and they don't tell you until you are splayed out waiting for the procedure. I let the credit report tell its story. unexpected medical debt is not a risk to me. --172.58.xxx.xx




MORE Credit Score Inflatn (by MikeA [TX]) Posted on: Jul 2, 2022 12:58 AM
Message:

While you can argue one way or the other on medical bills, what about the $500 limit. That is the real problem with these changes.

What happened in California when they stopped prosecuting theft of less than $500? Organized crime moved in and used that limit to their advantage, hundred of people shoplifting $495 of merchandise per day knowing they won't suffer consequences. Many business have closed up shop and now the legislature is reconsidering those rules.

Same will happen with rent checks. That last month of rent before they move out is going to be $500 light since it doesn't count anymore. Future landlords will be none the wiser because it won't show up on the credit report. --209.205.xxx.xx




MORE Credit Score Inflatn (by Ken [NY]) Posted on: Jul 2, 2022 10:17 AM
Message:

Mike,as part of my screening i now look up prospects on the county clerks site,surprising what you find occasionally,judgments from landlords they didnt tell me about and criminal restitution judgments occasionally --74.77.xx.xx




MORE Credit Score Inflatn (by Oregon Woodsmoke [ID]) Posted on: Jul 2, 2022 11:23 AM
Message:

What's this about tenants with no medical insurance? I thought Obama fixed it so everyone in America has medical insurance and it is against the law to not have medical insurance.

All of my bad applicants with horrible credit scores, all of their debts are under $500 each. So an applicant who owes money to 30 people will show up with an excellent credit score because all of these debts are under $500 each and so the credit bureau won't consider them? --76.178.xxx.xxx




MORE Credit Score Inflatn (by MC [PA]) Posted on: Jul 2, 2022 1:40 PM
Message:

OW-Obamacare was repealed-no longer needed. Even then there were exceptions. I get a big medical bill, but many with no explanation is a simple not paying.

Same for student loans. I know some who didn't go because they couldn't afford it or just finished paying.

No rewards for doing the right thing. Just give me, give me give me.. --73.230.xxx.xx




MORE Credit Score Inflatn (by John... [MI]) Posted on: Jul 2, 2022 3:25 PM
Message:

I really have my doubts that someone who "owes money to 30 people" (and would have them on their credit report before) will suddenly have an "excellent" credit score.

Come on. We know people better than that. People who owe 30+ people money -- of ANY amount -- are going to have crap credit regardless of how many of those are on the report, sorry.

They are also likely to owe MORE than $500 to some people too, of course.

That "what if?" is a 1-in-a-million situation and we all know it.

--24.180.xxx.xx




MORE Credit Score Inflatn (by John... [MI]) Posted on: Jul 2, 2022 3:26 PM
Message:

"Obamacare" was not repealed. It is the Affordable Care Act and is still active. They did remove the individual mandate part of it.

Also -- LOTS of people have high-deductible plans (because they can't afford anything else). It would be very easy for someone WITH INSURANCE to suddenly have a $3000 medical debt.

--24.180.xxx.xx




MORE Credit Score Inflatn (by David [MI]) Posted on: Jul 2, 2022 4:12 PM
Message:

$3000 medical debt. That's their problem. It's no different than someone who has a $3000 auto repair, or a surprise pregnancy, or any other surprise expense. Responsible people have emergency funds.

obamacare caps individual out of pocket at $8k each year. when my wife gave birth, the hospital put us on 12 month payment plan interest free. of course, we didn't need it, but who turns down interest free loan that doesn't go on your credit report! --50.4.xxx.x




MORE Credit Score Inflatn (by zero [IN]) Posted on: Jul 2, 2022 5:17 PM
Message:

I could easily see someone owing just under $500 on each of the three main utility bills. Then maybe cable TV, cell phone bill, etc.

That is crazy, in my opinion, not to include those. I don't run credit checks so I guess I shouldn't complain. I just see it becoming easier to dupe people this way. --107.147.xx.xxx




MORE Credit Score Inflatn (by WMH [NC]) Posted on: Jul 2, 2022 5:19 PM
Message:

Ummm David you are dead wrong at the cap amount. Our cap out of pocket was $15k???? Depends on state, perhaps.

BUT that's IN-network OOP. Another $15k was allowed OUT of network, which can happen so easily and so sneakily...

And the OOP was for COVERED expenses...lots of stuff is NOT COVERED...sure, my non-existent children's eye and dentist stuff is covered, and my impossible pregnancy is covered, but NOT a lot of other crucial stuff.

Like being flown by helicopter to the WRONG hospital as in it's a good hospital, has a trauma center, but it's not in your state or your network...it's a mess, is what the health care system is... --50.82.xxx.xxx




MORE Credit Score Inflatn (by David [MI]) Posted on: Jul 2, 2022 6:33 PM
Message:

The Individual oop max is $8k. You thinking of family.

Wmh, im not sure what your point is. The cost is the cost, that is what medical professionals and hospitals charge. Even if someone gets stuck with a large bill, a responsible person figures how to deal with it before it goes to collections --50.4.xxx.x




MORE Credit Score Inflatn (by David [MI]) Posted on: Jul 2, 2022 6:36 PM
Message:

Also, if someone is concerned about high deductible, they can pay more premium to get lower deductible. --50.4.xxx.x




MORE Credit Score Inflatn (by Barb [MO]) Posted on: Jul 2, 2022 7:51 PM
Message:

A lot of people donít have the cash flow to pay a higher premium for a possibility they might need the insurance. If you are generally healthy and donít usually seek medical care, you might think the high deductible and high OOP max is no big deal.

Then you go to the ED after playing ball to find you have an emergency and need emergency surgery. You have $10K in the bank in your emergency fund, but you are going to be out of work for 8 weeks, and on limited duty for 6 more. That $10K you are going to spend for your rent, utilities, car payments, food, etc. all your daily bills for a couple of months.

Then the medical bill comes and you owe the hospital $8K. Youíve been out of work for weeks, and staying afloat, but you have used your emergency fund to survive. How do you pay the medical bills?

That is how people end up on the edge of bankruptcy even though they have always paid their bills.

So, if they paid everything else? But have $10K in unpaid medical bills in collection? Iíll give them the benefit of the doubt. --149.76.xxx.xx




MORE Credit Score Inflatn (by Nicole [PA]) Posted on: Jul 5, 2022 9:01 AM
Message:

Those who have never had serious, long duration, medical issues have ZERO idea of the billing nightmares that happen.

One shot for $21,000 on Wednesday gets paid in full. Billing shows same shot given again on Friday but insurance refuses to pay. Guess what, that second shot would kill you so if anyone pays attention, they realize it's an error. You are VERY sick when you get that shot. A phone call is all you or someone on your behalf can manage. It is to be "taken care of". Next month, still shows on the bill. Guess what again? You are sicker as time goes on so after two or three months no one makes the phone call again. Oops, unpaid bill.

You have medicare and medigap insurance. Medicare pays and automatically the balance due goes to the medigap plan. Somehow the invoice doesn't get paid by medigap - no idea whose "fault" it is but it's not yours because they take care of it and guess what? You are sick. Finally, one year later, you get a final demand letter from original medical provider stating the claim was denied because it wasn't submitted timely. Whose fault is that?

When very sick, you receive lots of little invoices for copays, deductibles, etc. When on medicare, the original provider sends their invoice to you on their own (probably 30 day) schedule. Even though it is "making the rounds" through the payment process, you get a bill that says "overdue". Many older people pay it and eventually they get a refund check from the original provider because the insurance has eventually paid the claim.

When VERY sick, you receive bills from all kinds of places you've never heard of. It is basically impossible to follow when there is an error made and guess what? You are sick and following up on someone else's errors is not your priority.

Guess what? I have VERY little faith in the massive medical "systems" that have been created by insurance companies the past 20ish years. And my lack of faith has been from me directly handling medical care for seven people who are/were VERY sick for prolonged lengths of time over the past seven years. --98.237.xxx.xx




MORE Credit Score Inflatn (by Sisco [MO]) Posted on: Jul 5, 2022 11:03 AM
Message:

Nicole, I donít disagree with anything you wrote.

Question: are we LL screening tenants better off by having applicants medical debt be non reported by credit bureaus?

Are we rejecting good tenants enmasse due to medical debt?

I say that we are better off with the information, we can make exceptions where exceptions are warranted. --149.76.xxx.xxx




MORE Credit Score Inflatn (by TonyT [PA]) Posted on: Jul 5, 2022 11:59 AM
Message:

Credit Reports have always been about the truth.

They have always been about an indisputable track record.

It may be your OPINION that medical doesn't matter, but it's others' opinion that it does.

It's wrong and unethical to force that opinion on everyone by eliminating it from the track record.

If it's true, report it and let everyone decide on their own how to treat it. It's unethical to conceal truth just because you think that truth shouldn't be important. --74.99.xxx.xxx




MORE Credit Score Inflatn (by WMH [NC]) Posted on: Jul 5, 2022 12:29 PM
Message:

Tony, we mom & pop landlords might scrutinize a credit report. Banks, etc. just look at the score. --50.82.xxx.xxx




MORE Credit Score Inflatn (by TonyT [PA]) Posted on: Jul 5, 2022 12:58 PM
Message:

WMC: Again, that is the bank's personal choice and opinion to look at just scores.

Concealing truthful information is unethical. --74.99.xxx.xxx




MORE Credit Score Inflatn (by mike [CA]) Posted on: Jul 7, 2022 11:52 AM
Message:

there are MANY different scores floating around. my reporting agency uses TU Beacon, which is NOT the FICO used by banks.

the FICO you get from Fair isaacs is likely a different score as well. the freebies that credit card co's give us are also not what we think. i've ignored the medical debt since i got started. i get full aged reports with each account showing aging and lates. i do look closely at the score but the real meat is the accounts and how they report. if someone has a repo'd car, 3 collections from cell co.s, small collections from vets or credit cards...those are the money shot and DQ them. of equal significance for us now is the ability to prove rent was paid during the 'rona. cancelled checks please. --75.80.xx.xx




MORE Credit Score Inflatn (by mike [CA]) Posted on: Jul 7, 2022 11:59 AM
Message:

hers a fun medical debt story...a few years back my son broke his neck while riding in the desert. a helicopter was called and they flew him 30 minutes over the hill to the hospital.

when the bill for that came it was $242,000. let's round that up to a quarter of a million. i called the folks that delivered that billing and asked them when i could expect delivery of the helicopter they were trying to sell him.

$242,000. we did not pay that. i told them his insurer would let them know what was usual and customary. with the silliness that surrounds the whole billing and collections it's simply impossible for one to decipher ANY billings for any medical event that was slightly more than a few stiches. at some point we all just say eff it and move on --75.80.xx.xx




MORE Credit Score Inflatn (by TonyT [PA]) Posted on: Jul 7, 2022 4:53 PM
Message:

Good Story Mike.

You ended with an opinion; you have your opinion and I have mine.

What's NOT an opinion is truthful information. And when that is concealed purposely, it is an attempt to stop us from creating an informed opinion. It is unethical. --74.99.xxx.xxx




MORE Credit Score Inflatn (by TonyT [PA]) Posted on: Jul 7, 2022 4:56 PM
Message:

People keep posting opinions as a counter argument.

A thruthful track record is NOT an opinion.

Purposely concealing a truthful track record is itself an opinion. --74.99.xxx.xxx



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