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
17 Comments
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4/28/2023 04:16:58 pm
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Richard Greene
5/15/2023 07:31:52 am
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5/19/2023 10:32:10 pm
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Cheryl Matthew
5/29/2023 06:26:41 pm
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Jimmy Allen
6/12/2023 04:06:18 pm
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6/29/2023 02:02:37 am
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Jennifer Matthew
11/2/2023 05:03:21 pm
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Paul Winchester
11/16/2023 06:59:40 am
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Michael Hayes
11/17/2023 07:11:13 pm
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Leon Cody Garcia
11/30/2023 10:42:16 am
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Grace Peterson
12/3/2023 02:46:52 pm
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Morgan Kennedy
12/11/2023 07:27:18 pm
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Willy Armfire
12/20/2023 12:06:01 pm
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Michael Welch
1/20/2024 01:08:53 pm
Happy New Year! My name is Michael Welch from San Antonio. I took out a 25k loan (9575 for the dentist and 15,000 for the dentures) about two years ago. I missed out on my payments because I lost my job and my credit score drop drastically. This affected my dream of purchasing a house for my family. I’ve got a better job, paid off the debt but the negative remarks remained. All my applications for a home loan fell through, until a realtor recommended JERRYLINK CREDIT GROUP. I contacted Mr. Jerry, he was responsive, and gave detailed information. After careful deliberation with my family, I offered him the job and I’m glad I did. They erased all the negative items and my score went up by 129 points. I have achieved my dream of becoming a home owner thanks to Mr. Jerry and his team. I’m recommending his services as promised; you can reach out to them via: JERRYLINKGROUP@GMAIL.COM, thank me later.
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Brandon Clifford
1/27/2024 02:26:00 pm
Just wanted to thank Mr. Jerry for everything you have done for us. In less than 15days of working with you, our credit score was raised high enough to be able to qualify for a mortgage loan that we were not able to before. Besides that, everyone there was so professional and friendly and easy to work with that it made the whole experience quite enjoyable. I have already recommended you to several people and will continue to recommend your services to everybody I come in contact with. I contacted JERRYLINK CREDIT GROUP via their customer service: JERRYLINKGROUP@GMAIL.COM
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Brianna Hernandez
1/31/2024 02:15:41 am
My credit score was in the low 500’s before I found JerryLink Credit Group. They were able to remove the negative items (Judgment, collections, inquiries, card debt) that were dragging me down and allowed me to purchase a new car for my family with a score over 800 in just a week! I think Mr. Jerry and his team are currently the best in terms of credit repairs. You can reach out to them via mail: JERRYLINKGROUP at GMAIL dot COM, thank me later.
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