If 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?
Medical debt that gets written off doesn't impact credit scores. There's no reason that this would need to either.
> - 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?