Tag Archives: Medical Debt Credit Reporting

A group of more than 90 state and national consumer organizations have submitted a petition to the Consumer Financial Protection Bureau, asking it to issue a rule that would prohibit medical debts from appearing on consumers’ credit reports, if the debts resulted from medically necessary services. Background: The CFPB has …

Changes that have been announced and started to be put into place regarding how information about medical debts are furnished to the credit reporting agencies will remove those debts from the credit reports of about half of all consumers, according to an analysis of the data published yesterday by the …

Using consumer complaints to draw conclusions about potential issues with how medical debts are billed and collected is a lot like taking a picture with your finger covering up part of the lens — you’re definitely not getting the whole picture. You’ll get part of it, for sure, but there …

The White House yesterday outlined an aggressive plan to crack down on “malicious” and “predatory” billing practices related to medical debts, including holding debt collectors “accountable for harmful practices,” while also pledging to have the medical debts forgiven for more than half a million low-income veterans. The announcement is the …

While expressing cautious optimism for “certain aspects” of the recent announcements from the three major credit reporting agencies regarding how they will handle medical debts, Rohit Chopra, the Director of the Consumer Financial Protection Bureau raised a number of issues and continued to ramp up the rhetoric with respect to …

There was at least one voice of reason that sat before the Senate Banking Committee yesterday during a hearing that was held on the “Economic Impact of the Growing Burden of Medical Debt,” even as Democrats on the committee called on the Consumer Financial Protection Bureau to do more to …

The announcement last week from the three major credit reporting agencies — Equifax, Experian, and TransUnion — was long on impact, but short on details. All that was issued was a press release that mentioned that the CRAs were doing, but did not include any details about how furnishers were …