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Isn't the American credit score more like “once untrustworthy, always restricted”? Most the restrictions announced by China are removed automatically in just on

Isn't the American credit score more like “once untrustworthy, always restricted”? Most the restrictions announced by China are removed automatically in just one year.

xeromal 9y ago
Every bad mark expires after 7 years generally. Many times, you can contact the company who you owe and set up a plan where they'll remove the bad mark if you pay the debt in full.
mastax 9y ago
The time limit for negative information is 7 years.
DamnYuppie 9y ago
No it isn't. While it can inconvenience you for a few years you can get it back up by simply paying your bills on time and paying down debts. Now that being the case I still don't like credit scores. You can work years, have lots of savings, pay all your bills on time, pay off cars and mortgages and have a rocking credit score. The if one medical vendor sends your $90 bill to the wrong address, you never see it, then they send you to collections you will watch your score crater. This is sadly what happened to me, it is rage inducing!
- hungryhobo 9y ago
  so it's the same then.
  - DamnYuppie 9y ago
    I am not sure I follow this. I have gotten back up by simply doing the things I was doing before.
- lazerpants 9y ago
  Interesting. I had the same experience (doctor->collections; trivial amount of money) and it didn't impact my score at all. In fact, I laughed at the collections agent and told her they would never see a penny from me, as it hasn't impacted my score. That was several months ago and still no change in my score and I certainly haven't paid them.
- adventured 9y ago
  The US credit scoring system has begun aggressively devaluing medical claims against your credit: https://www.npr.org/sections/health-shots/2017/07/11/536501809/credit-agencies-to-ease-up-on-medical-debt-reporting https://www.npr.org/sections/health-shots/2017/07/11/5365018... https://www.experian.com/blogs/ask-experian/medical-debt-and-your-credit-score/ https://www.experian.com/blogs/ask-experian/medical-debt-and... You can also easily dispute that $90 bill, and easily get it removed from your record. You'll find there's almost zero chance they're going to tangle with you over $90. If it's a $5,000 medical bill, then they will fight you over that dispute claim.
- echevil 9y ago
  Good then. Most of the restrictions mentioned in the article are automatically removed in 1 year.

Isn't the American credit score more like “once untrustworthy, always restricted”? Most the restrictions announced by China are removed automatically in just one year.

xeromal 9y ago

Every bad mark expires after 7 years generally. Many times, you can contact the company who you owe and set up a plan where they'll remove the bad mark if you pay the debt in full.

mastax 9y ago

The time limit for negative information is 7 years.

DamnYuppie 9y ago

No it isn't. While it can inconvenience you for a few years you can get it back up by simply paying your bills on time and paying down debts. Now that being the case I still don't like credit scores. You can work years, have lots of savings, pay all your bills on time, pay off cars and mortgages and have a rocking credit score. The if one medical vendor sends your $90 bill to the wrong address, you never see it, then they send you to collections you will watch your score crater. This is sadly what happened to me, it is rage inducing!

hungryhobo 9y ago
so it's the same then.
- DamnYuppie 9y ago
  I am not sure I follow this. I have gotten back up by simply doing the things I was doing before.
lazerpants 9y ago
Interesting. I had the same experience (doctor->collections; trivial amount of money) and it didn't impact my score at all. In fact, I laughed at the collections agent and told her they would never see a penny from me, as it hasn't impacted my score. That was several months ago and still no change in my score and I certainly haven't paid them.
adventured 9y ago
The US credit scoring system has begun aggressively devaluing medical claims against your credit: https://www.npr.org/sections/health-shots/2017/07/11/536501809/credit-agencies-to-ease-up-on-medical-debt-reporting https://www.npr.org/sections/health-shots/2017/07/11/5365018... https://www.experian.com/blogs/ask-experian/medical-debt-and-your-credit-score/ https://www.experian.com/blogs/ask-experian/medical-debt-and... You can also easily dispute that $90 bill, and easily get it removed from your record. You'll find there's almost zero chance they're going to tangle with you over $90. If it's a $5,000 medical bill, then they will fight you over that dispute claim.
echevil 9y ago
Good then. Most of the restrictions mentioned in the article are automatically removed in 1 year.