Tag Archives: Medical Debt

A group of Senate Democrats, including Sen. Elizabeth Warren [D-Mass.] and Sen. Sherrod Brown [D-Ohio], the chair of the Senate Banking Committee, have opened an investigation into medical credit cards and the “potential harm they may inflict on patients.” The Senators sent letters to Synchrony Financial — which offers CareCredit …

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 …

More than half of adults in the United States have gone into debt in the past five years because of a medical or dental bill, according to the results of a nationwide survey, and about 20% of those adults say they don’t ever expect to fully repay those debts. The …

More than half of individuals who are diagnosed with cancer end up in some form of medical debt, and 53% of those individuals have a debt that ends up in collection, according to data that was released yesterday by the American Cancer Society. Three-quarters of those who are diagnosed said …

About 9% of all adults in America — which represents about 23 million people — owe at least $250 in medical debt, according to the results of a report released yesterday by the Kaiser Family Foundation. In total, Americans owed $195 billion in unpaid medical debt as of 2019, according …

A bill in the Virginia legislature is one step away from reaching the governor’s desk to be signed into law that would create a statute of limitations for collecting medical debt in the state. The bill, HB 573, passed in the state House of Delegates last month by a vote …

I have no proof of this, but my gut tells me that Rohit Chopra is a pretty good chess player. All the proof I need are the press releases that the Consumer Financial Protection Bureau has been issuing over the past couple of months. To me, those releases are the …

We have all seen the campaigns, on Facebook and other places, and many have likely participated, but do GoFundMe campaigns actually work when it comes to covering the costs of medical debt? A report published in the American Journal of Public Health analyzed more than 437,000 campaigns during a five-year …

After publishing research showing the amount of unpaid medical debt is significantly higher than previously thought, an economics professor at Stanford has continued to analyze his data and has reached another conclusion — the financial burden of medical debt is keeping individuals from going back to see their doctors, which …