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re: Medical Debt Should Not Ever Be Used to Harm Credit Worthiness
Posted on 5/9/24 at 7:24 am to AUX3
Posted on 5/9/24 at 7:24 am to AUX3
quote:
There is no such thing as cancelling a debt. Someone is getting screwed. Who is it? The doctor not getting paid? The insurance company that is owed? The person that paid for their medical?
Ultimate the taxpayer.
Insurance and doctors sell the debt at a loss and it's deductible at the end of the year. This ultimately comes off tax obligations and is paid for by the money printing machine (created by selling bonds to foreign and national entities)
It's all fake money, backed by a ponzi scheme that will continue long after we're all dead. As long as that system is in place, i'm fine with people defaulting on medical debt. The people who will pay are our great great grandchildren (or theirs)
Medical debt rarely hurts credit scores because of HIPAA. It's hard for medical establishment and collection agencies to report, because any details about the nature of the debt could violate HIPAA (think: a bill from a cardiology group)
This post was edited on 5/9/24 at 7:25 am
Posted on 5/9/24 at 7:39 am to jonnyanony
Health care providers and their collection agencies are able to report medical debts to CRAs without violating HIPAA regulations.
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Fair Capital Says, "Hello".
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