Account Recovery
JANUARY 11, 2023
The Governor of New York yesterday announced a number of healthcare-related proposes during her State of the State address, including a plan to include medical debt in the state’s Consumer Credit Fairness Act. Governor’s Agenda Includes Medical Debt Collection Initiatives first appeared on AccountsRecovery.net.
Nexa Collect
JUNE 18, 2023
Here are some points to consider regarding the impact of medical debt default on the patient’s credit scores: Reporting to Credit Bureaus : When a medical debt goes unpaid for an extended period, the healthcare provider may send the account to a collection agency. This is known as “pay for delete”.
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Collection Industry News
JUNE 28, 2021
Senate Democrats are calling on federal authorities to take action on aggressive medical debt collection, citing reports about hospitals suing patients over unpaid bills. In a letter to the the Consumer Financial Proection Bureau (CFPB), Democratic Sens. Chris Murphy (Conn.) and Chris Van Hollen (Md.) Chris Murphy (Conn.)
Better Credit Blog
APRIL 5, 2022
A collection account will lower your credit score and can generally stay on your credit report for up to seven years. Often, a collection entry will even keep you from getting a mortgage or securing an auto loan, which is why it’s important to do all you can to remove collections from your credit report quickly.
Collection Industry News
MAY 23, 2022
– Come July 1, 2022, paid medical collection debt won’t be used for credit scores and unpaid medical debt won’t appear for a full year, according to the three main credit reporting agencies (NCRAs) – Equifax, Experian and TransUnion. Florida Realtors® serves as the voice for real estate in Florida.
Troutman Sanders
SEPTEMBER 13, 2023
As discussed here , on July 7th the Consumer Financial Protection Bureau (CFPB), U.S. Department of Treasury (collectively, the agencies) jointly issued a Request for Information (Request) seeking public comment on medical credit cards, loans, and other financial products used to pay for health care.
Collection Industry News
OCTOBER 22, 2023
On July 11, 2023, in prepared remarks to kick off the CFPB’s hearing on Medical debt, CFPB Director Chopra appeared to take credit for these changes, stating, “The CFPB’s work has led to major changes in the way medical bills are reported to the three credit reporting conglomerates: Equifax, Experian, and TransUnion.
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