Collection Industry News

APRIL 24, 2025

Bars lenders from using medical devices like wheelchairs and prosthetic limbs as collateral for loans or from repossessing them if someone cant repay the loan. Negotiate your bill Providers are more than willing to settle on these things, healthcare reform advocate Jeff Smedsrud told CNBC Select.

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Collection Industry News

JUNE 10, 2024

Medical debt is not reported to credit bureaus as long as it remains with your healthcare provider. Bar lenders from using medical devices like wheelchairs and prosthetic limbs as collateral for loans or from repossessing them if someone can’t repay the loan. How long does medical debt stay on your credit?

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Collection Industry News

JANUARY 25, 2025

Whats more, lenders will be barred from using information about medical devices, such as prosthetic limbs, to make them serve as collateral for a loan and subject to repossession, according to the CFPBs announcement. Nonprofits in the healthcare space are pleased. How are advocates responding?

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