Posted On: June 13, 2007, 11:32 pm CDT

Posted By: Einstein

First, charging higher insurance based on economic characteristics is illegal. In California, it is called redlining, which we know is charging higher rates in poor neighborhoods, because it was not fair to the individuals in that neighborhood. Secon, credit scoring is illegal in California for the same reason. If you have already paid the interest, and then its was compounded higher, plus penalty, this is loan sharking. Then after you pay all that is owed, they charge even higher interest on you next loan. Please, if you do not see scoring as a tool to charge higher rates, before you are late again, then there profits will continue. All people should be treated fairly, regardless, of thier economic characteristic. Penalties should be charged when they are late, not before just because a score says that you might be late again. It's the same thing, for insurance charge them after they have a loss not before. This is like getting a ticket before you speed, because your economic group is more likey to get a ticket. We are being abused, and it should not be considered acceptable behavior.