5 ms·

Having gone through cancer treatment here in the USA, I have received over a dozen 'after the fact bills' over the past 5 years, sometimes over 9months after t

Having gone through cancer treatment here in the USA, I have received over a dozen 'after the fact bills' over the past 5 years, sometimes over 9months after the procedure, mainly involving blood work and CT scans. I missed one bill that came months after chemotherapy for $87 in 2015, it only had a 60 day notice before sending to collections. Mind you I was on disability from my employer that paid well. -80pts on my credit score... It took until last year to get my credit score back to the same level it was prior to starting treatment.

AdmiralAsshat 6y ago
If it's any consolation, that time should now be 180 days, and I'm pretty sure the counter should start at the time the collection agency receives it, not from the date of service. IANAL, though, so don't quote me on that.
JacobSuperslav 6y ago
how come in Europe credit score isn't really a thing and everything works fine? that's another thing that needs to go
- jlokier 6y ago
  I don't know if you're counting UK as part of Europe for this purpose, but in the UK credit score is definitely a thing. It affects whether you can get a mortgage, credit card, loan, purchase credit (e.g. for buying a phone), or even a tiny overdraft, and it enormously affects how much interest you will be charged (i.e. very high or very low), and whether the credit limit you can get is zero, tiny or substantial.
- vasco 6y ago
  There are credit scores in some places in Europe, mostly in the form of lists of people that may have failed to pay something in the past. It's a pain in the ass to correct if you get there by mistake and it's very opaque. Overall credit scores seem like a great idea with a terrible implementation. In general you as a mindful consumer that pays your bills on time wouldn't want to be paying the same prices for loans (spread, interest) as other consumers that have a history of not paying. A well functioning credit score system makes for a more efficient lending market, allowing consumers to save money if they have a good track record. How it actually works in practice is a joke, though.
- astura 6y ago
  Credit scores are very much a "thing" in many parts of europe. A big difference is a lot of the credit scoring systems outside of the US doesn't take into consideration positive actions - only negative ones. So paying off a loan won't help you show you are a responsible borrower, but failure to pay it will hurt you. There's also varying definitions of "fine" in "everything works fine." The USA has way more of a variety of financial products and the most qualified borrowers pay much less. One can argue that's a good thing, or a bad thing. (It's a good thing for me, personally.)

AdmiralAsshat 6y ago

If it's any consolation, that time should now be 180 days, and I'm pretty sure the counter should start at the time the collection agency receives it, not from the date of service. IANAL, though, so don't quote me on that.

JacobSuperslav 6y ago

how come in Europe credit score isn't really a thing and everything works fine? that's another thing that needs to go

jlokier 6y ago
I don't know if you're counting UK as part of Europe for this purpose, but in the UK credit score is definitely a thing. It affects whether you can get a mortgage, credit card, loan, purchase credit (e.g. for buying a phone), or even a tiny overdraft, and it enormously affects how much interest you will be charged (i.e. very high or very low), and whether the credit limit you can get is zero, tiny or substantial.
vasco 6y ago
There are credit scores in some places in Europe, mostly in the form of lists of people that may have failed to pay something in the past. It's a pain in the ass to correct if you get there by mistake and it's very opaque. Overall credit scores seem like a great idea with a terrible implementation. In general you as a mindful consumer that pays your bills on time wouldn't want to be paying the same prices for loans (spread, interest) as other consumers that have a history of not paying. A well functioning credit score system makes for a more efficient lending market, allowing consumers to save money if they have a good track record. How it actually works in practice is a joke, though.
astura 6y ago
Credit scores are very much a "thing" in many parts of europe. A big difference is a lot of the credit scoring systems outside of the US doesn't take into consideration positive actions - only negative ones. So paying off a loan won't help you show you are a responsible borrower, but failure to pay it will hurt you. There's also varying definitions of "fine" in "everything works fine." The USA has way more of a variety of financial products and the most qualified borrowers pay much less. One can argue that's a good thing, or a bad thing. (It's a good thing for me, personally.)