Talk:Universal default/Archives/2011

Late vs. 30 days late
Unless I am mising something, universal default only applies when someone has been more then 30 days late on the 'other' account, vs. even 1 day late for the account in question.

The article does not mention this.

I am not adding this to the article because I am not totally sure about it.

Can anyone please confirm? 71.199.123.24 01:08, 7 July 2006 (UTC)


 * It depends on the terms of the account being "defaulted." The account agreement defines what a default is. It could be 30 days for credit accounts, or 15 for charge accounts. It really is a case-by-case basis. It's better to leave it at "other account defaulted" rather than specify how many days it takes, imo. --Josmul123 (talk) 02:39, 13 November 2008 (UTC)

globalize
Article seems to describe North American practice. In Europe, it would be a breach of privacy and data protection laws. Getting a sub-prime rate with a poor credit history? Certainly. Being switched to a sub-prime rate because of missing a payment to someone else? Wouldn't happen. There are strict controls on who can run a credit search, when they can do it and what they can do with it. 81.104.170.167 02:11, 19 October 2006 (UTC)

NPOV
I'm not sure I can agree that the example section at the bottom of this article is completely reasonable. Someone with a good amount of knowledge in economics should look at it and make it more factual and less speculative. --Falcon Darkstar Kirtaran (talk) 01:36, 5 January 2009 (UTC)

snippet removed from the article
I wondered for a while whether to tag this for a citation or just delete it, but I decided to move it here.. the comment is of the sort that requires proper sourcing to be included in the article as it claims that UD (which is considered predatory) would be beneficial. --Dailycare (talk) 20:29, 17 May 2010 (UTC)

While Universal Default rules look bad for individuals in the short run, in the long run it is good for responsible borrowers, and good for the economy. By replacing Universal Default with a universal presumption of risk we effectively socialize credit and restrict growth.