On January 7, 2025, the Consumer Financial Protection Bureau (CFPB) finalized a ruling to remove all medical debt from credit reports. This change means that both paid and unpaid medical collections will no longer be reported to credit bureaus. In 2023, it was announced that paid medical collections and outstanding medical debts under $500 would … Read more
On July 1, 2022, some positive changes took effect regarding medical collection practices. First, all paid medical collections started falling off credit reports, and second, collection agencies were required to wait one year before reporting a medical debt to the credit bureaus. This was to give the consumer a chance to pay the debt before … Read more
As the result of a report issued at the beginning of March 2022 by the Consumer Financial Protection Bureau (CFPB), starting in July 2022 there will be some major changes to credit reports. These changes will impact approximately 20% of consumers in a very positive way. Beginning July 1, 2022, all paid medical collections will … Read more
There have been a lot of questions cropping up surrounding the changes coming in June to credit reports. These changes are due to the settlement agreement from 2015 between the credit bureaus and state’s Attorney Generals. The last phase of this agreement is set to be in place as of June 8th, 2018. Due to … Read more