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Monday, March 09, 2015

Economics 101

Okay Credit Reports ...

 Did you know that 1 in 5 people have ERRORS on their reports? And the way things are right now, the Report companies automatically side with the BANKS/CREDITORS and not you???
In order to fix it, you have to prove your INNOCENCE ...

Also, 50% of credit related bankruptcies involve MEDICAL bills ... They would show up any where from 30-90 after being delinquent.

NOW -- they are saying they are planning to change the reporting standards ...

From now on, creditors will have to prove your GUILT if there is a question on your report ...

And medical bills will be held for a full 180 DAYS before being put onto your report ...

They hope these things will help people feel more secure in their finances ... And be able to get more loans to pay off their bills when needed.

Hmmm ...

Part of me is like, that's good ... Gives people a fair/even chance
Part of me is like, how stupid ... Give people with poor money skills the chance to get even more in debt ...

Hmmmm.

Oh, and did you know your credit ratings range from:

300 (very poor/new to credit)

To

850 (very good/responsible)

That news made me glad .... That means my daughter isn't as bad off as I thought.

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