KEVIN L. HERNANDEZ - PROTECTING NEVADA'S CONSUMERS - (702) 563-4450
  • Home
  • About
  • Contact
  • Blog

CONSUMER LAW BLOG

CFPB Releases Report on Medical Debt and Credit Reporting

8/15/2022

4 Comments

 
The CFPB recently published a report regarding how the national credit bureaus – Equifax, Experian, and Trans Union – handle medical collection credit reporting. The report analyzes the credit bureaus' decision to refrain from reporting unpaid medical collections for one year and remove all paid medical debts from consumers' profiles. The report also discusses the credit bureaus' upcoming moratorium on reporting medical debts under $500 starting next year.
 
The CFPB found that when the bureaus remove unpaid medical debts under $500, it will erase a majority of individual medical tradelines from consumers' profiles. The report also found that removing paid collections is less likely to have a substantial effect because collectors routinely fail to mark accounts as paid despite their legal obligations under the Fair Debt Collection Practices Act and Fair Credit Reporting Act. As a result, the CFPB will continue to monitor the situation and may take steps to block or limit the reporting of medical debt.
 
If you have medical collections on your credit reports or are receiving collection calls for unpaid medical debts, you should contact a Las Vegas debt collection attorney to discuss your legal rights.
 
Source:https://www.jdsupra.com/legalnews/cfpb-publishes-report-on-impact-of-8461801/?origin=CEG&utm_source=CEG&utm_medium=email&utm_campaign=CustomEmailDigest&utm_term=jds-article&utm_content=article-link
4 Comments

    Archives

    August 2022
    June 2022
    March 2022
    February 2022
    January 2022
    December 2021
    June 2021
    February 2021
    January 2021
    December 2020
    March 2020
    February 2020
    January 2020
    October 2019
    July 2019
    June 2019
    April 2019
    February 2019
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2016
    December 2015

    Categories

    All

    RSS Feed

Law Office of Kevin L. Hernandez
8920 W. Tropicana Avenue, Suite 101
​Las Vegas, Nevada 89147
P: (702) 563-4450
F: (702) 552-0408
​E: kevin@kevinhernandezlaw.com

Avvo - Rate your Lawyer. Get Free Legal Advice.
  • Home
  • About
  • Contact
  • Blog