Re: My copy NOT like creditors' cop FICO: A means to create "fictitious risk grouping, for the purpose of charging higher PRICES
Re: My copy NOT like creditors' cop ME NO CLAIMS EVER NO ACCIDENTS EVER ONE TICKET (1983) 7+ MPH GOOD THING I HAVE 700+ F.I.C.O. BUT I STILL CAN'T SEE THE LOGIC IN A CREDIT REPORT HAVING ANYTHING TO DO WITH HOW YOU DRIVE!!!
Re: My copy NOT like creditors' cop FARMERS IS DOING A "HARD" NOW!!! THEY EVEN DID 2 LAST TIME...ONE OF THE 2 DROPPED OFF... TIME TO SEND A "CEASE and DESIST" LETTER (IF IT WOULD WORK)!?!?!?!?!
Re: My copy NOT like creditors' cop FYI Choicepoint headquarters address: Address: 1000 Alderman Drive City: Alpharetta State: GA Zip: 30005 Phone Number: 877-317-5000 Business Unit: Headquarters & Insurance Services Services: Headquarters
Re: My copy NOT like creditors' cop Some insurance guy once told me they do it not to compare your credit and driving record, but someone with $100K in charged off debt is more likely to commit suicide (drive their car into a wall) than someone who isn't $100K behind in payments. Same goes for life insurance....not that it's right, I just remember being told that.
Re: My copy NOT like creditors' cop Kellie you just might have a great point there. Ok ... I'll concede. As soon as I have $100,000 in charge-offs they can raise my rates. ~
Re: My copy NOT like creditors' cop But what if you just have a BUNCH of lates and a few charge offs for say $15,000 are you also going to drive into a wall???
Re: My copy NOT like creditors' cop I would guess more likely than someone who isn't late, behind etc. I'm sure the FICO score they see is of no use for insurance companies. I'm sure there are a lot of other factors involved, but in reality it make sense. I know I'm a lot happier now that I have better credit. Hey, if pulling my credit report means I could pay lower rates then so be it. OH, when I had bad credit, I always had to pay 20% of my policy up front, now I don't have to.
Re: My copy NOT like creditors' cop I PAY IN FULL BEFORE COVERAGE STARTS...BUT THEY ARE DOING "HARDS" ANY WAY!!! ONE TICKET 7+ MPH (1983) NO CLAIMS NO ACCIDENTS
Re: My copy NOT like creditors' cop I love the explanation from the insurance man that credit risk is tied to suicide rates. The truth is that the insurers have allied with creditors to make you pay or you won't be able to drive. Since insurance is mandatory, you will be screwed and left with public transportation options. The other claim is that a debtor is more likely to make a claim. WELL, isn't that why you have insurance? What is insurance for...just to pay your premium...or to fund those gigantic insurance office buildings? David A. Szwak
Re: My copy NOT like creditors' cop LET ME SEE...I have a 732 F.I.C.O. so I won't file a claim for the HIT AND RUN on my car parked in front of my house... I have a 537 F.I.C.O. and I will file a claim...
Re: My copy NOT like creditors' cop Nooooooo, it's to pay for the art they commission for the lobbies inside those buildings ;-) That's the most reasonable explanation I've heard of in a long time, LOL.
Re: My copy NOT like creditors' cop The other claim is that a debtor is more likely to make a claim. DavidSzwak ============================ Since most people have no Idea what their score is how can low scorers file more claims than the folks with higher scores. LB 59 PS: Better not let the folks who have low scores and don't know it find out they do or we will have an avalanche of new claims. LOL
Re: My copy NOT like creditors' cop LET ME SEE...I have a 732 F.I.C.O. so I won't file a claim for the HIT AND RUN on my car parked in front of my house... GEORGE~~A.K.A. RODNEY DANGERFIELD ===================== My sister in law got hit and was seriously hurt by a drunk driver. Her medical treatement bills are in the tens of thousands of dollars. Do you suppose wither her fico is 400 or 800 it will have any bearing on her deciding to file a claim on the drunk that hit her?? Suppose for the sake of argument her credit score at the time of the accident was 400 . What I want to know is how her having an 800 score would have prevented the guy that hit her from being drunk? LB 59
Re: My copy NOT like creditors' cop Okay, we have hit upon another good topic. Injured persons who present claims. If you sign an insurance application, NEVER authorize the insurer to pull your credit report in the event you have a claim. NEVER sign an arbitration agreement or a forum selection clause. Simply scratch it out. It is illegal for an insurer to pull your credit report for purposes of evaluating your injury claim. In first party claims [UM, collision, etc.], insurers are trying to invoke hidden clauses in your application allowing them to pull credit reports and to force arbitration. Now, why would you agree to let them hand pick a person/entity to adjudicate your dispute with them? Isn't that akin to stacking the deck against you? Consumers frequently lose in arbitration. Duh...if the arbitration entity does not side with the business, guess whose name comes out of the business's applications/contracts? Then the arbitrator has no job, his credit score will suck and he will be riding public transportation [with the rest of us]. David A. Szwak
Re: My copy NOT like creditors' cop I THINK IT IS TIME TO TAKE INSURANCE COMPANIES "OUT OF THE LOOP" Declair all medical on your taxes as an "OFF-SET" against income (overage is refundable)...if you have an accident...YOU FIX IT...but you say what about the insurance??? THEY WOULD BE OUT OF BUSINESS... All the money you DON'T pay the insurance companies would be in your pocket!!! JUST A THOUGHT...
Re: My copy NOT like creditors' cop 2 days ago I had a comprehensive claim. SOmeone smashed my moonroof, cost to me $250 deductible, total repair cost $1K+. I could have got a rental car, but don't really need it. I pay $1100 a year for insurance for 2 cars, one foreign, one american made. George has a point, but I know I would NOT be putting that money I pay every month in a special savings account for an accident or what have you.
Re: My copy NOT like creditors' cop I'M TALKIN' ABOUT ME AND OTHERS WHO NEVER HAD ANY ACCIDENTS or CLAIMS 20+ YEARS...that would be a pretty good NEST EGG!!! It could be an IRA type thing where you pay a bank every 6 months what you would have paid the insurance companies... It would be payable to a doctor, hospital, or car repair place at any time...
