3 ms·
> - Give everyone in the U.S. a guaranteed loan for $2,001, 0% interest, payable at the end of the month > - Before you "default", enter in a "negotiation" whe
by afarrell 6y ago
> - Give everyone in the U.S. a guaranteed loan for $2,001, 0% interest, payable at the end of the month
> - Before you "default", enter in a "negotiation" where the Fed can buy back the security from you for $1, writing off "the losses"
But still impacting individuals credit scores?
- brewdad 6y agoMedical debt that gets written off doesn't impact credit scores. There's no reason that this would need to either.
- afarrell 6y agoReally? TIL. Although I was under the impression it was still massively stressful.
- yingw787 6y agoIf everyone's in on it...would it impact credit scores? My impression of credit scores is they're a metric for a bank or a financial institution to determine credibility for a loan. If everybody knows you'll default on said debt because it's "meant" to be defaulted on, how would that impact the bank's assessment for whether you need a mortgage?