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John_Maxwell_IV comments on Buying Debt as Effective Altruism? - Less Wrong Discussion
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Seems like the only difference between buying someone's debt and paying it off for them vs them just defaulting is that if they just default, their credit rating takes a hit. So it seems like the major side effect of this scheme would be to make credit ratings less reliable.
My understanding is that people who use credit ratings aren't interested in defaults on medical debt. Thus this project makes credit ratings more reliable.
OK. But even if that were true, that would essentially be the main net effect of the scheme, right?