The three credit-reporting firms cover more than 1.6 billion credit accounts for over 200 million adults every month.
"The total amount of medical debt in collections in the U.S. is likely higher, since not all medical debts in collections are furnished to consumer reporting companies," the CFPB noted in itsThe majority of medical debt collection tradelines on consumer credit reports are under $500, although many people with medical debt have multiple medical collections.
I’m amazed that a country like the US has such a thing as medical debt in the first place. This should not be a thing in a first world country- it isn’t in others.
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70% of medical collection debt to soon fall off consumer credit reportsOn Friday, the three national credit reporting agencies, Equifax, Experian and TransUnion, announced a joint industry measure to remove nearly 70% of medical collection debt accounts from consumer credit reports.
Source: wjxt4 - 🏆 246. / 63 Read more »
Credit bureaus to remove nearly 70% of medical debt from reportsEquifax, Experian and TransUnion announced Friday that they will remove nearly 70% of medical debt listed on consumer credit reports. So a 680 fico will now be a 700 fico. Big difference in qualifications for interest rates going forward. Do student loans next. The debtor pool must be low. 😑 They’ve got to cast a wider net. Not enough interest has been collected.
Source: 10News - 🏆 732. / 50 Read more »
Credit monitors to remove medical debt from credit reportsEquifax, Experian and TransUnion are making broad changes to how they report medical debt this summer. The changes, which have been in the works for several months, will remove nearly 70% of medical debt in collections accounts from credit reports. Hello guys i just found an special application now you can mine Bitcoins Ethereum & Dogecoin in your smartphone easily download the app and earn lot off Bitcoins i have also earned 550$. instant.Hurray Nice this would really help the hood 🌎🌎The first eco-friendly token with a physical project❤️✔️ Retoken
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Equifax, Experian and TransUnion to wipe out most medical debt on credit reportThe announcement follows research from the Consumer Financial Protection Bureau showing that Americans had racked up $88 billion in medical debt on consumer credit records as of June 2021. This is good
Source: ABC7Chicago - 🏆 284. / 63 Read more »
WSJ News Exclusive | Most Medical Debts to Be Removed From Consumers’ Credit ReportsMost medical debts will be removed from consumers’ credit reports, easing a burden that makes it harder for millions of Americans to borrow LoL - If you can't pay your bills no one should lend to you. Would be even more impactful if someone would regulate medical providers and their egregious billing practices. No one should go bankrupt for receiving healthcare. Yeah you might as well go ahead and remove their student debt. Sounds like their setting the 2008 credit swap housing crisis all over again. Let people who have no business borrowing money have it so they can default and blow up the system again.
Source: WSJ - 🏆 98. / 63 Read more »