State Lawmakers Push to Help with Medical School Debts
Arizona lawmakers voted Tuesday to expand a program that helps doctors repay their medical school debts if they agree to go where they are needed. Collection & Credit Risk
Medical Collections, Scoring Scrutiny Grows
An estimated 43 million people carry delinquent medical debt on their credit reports and medical bills account for nearly half of all overdue debt on the reports, according to a study released Thursday by the Consumer Financial Protection Bureau. Collection & Credit Risk
Here’s how medical debt hurts your credit report
Since September 2013, debt collection has been the top complaint at the CFPB. Among all debt types, medical debt tops the list. When a debt is past due, a collector may report the account to a credit agency. This would appear as an account in collection, often resulting in a credit score drop. A staggering [...]
Consumer Advisory: 7 ways to keep medical debt in check
Debt collection is the top complaint we’ve received since September 2013. Out of all debt types, medical collections make up 52 percent of collection accounts on credit reports, far outpacing all other types of debt. Medical collections are so widespread, that an estimated 43 million consumers with an account in collection have medical debt. We [...]
CFPB Medical Debt Hearing Set
The Consumer Financial Protection Bureau will hold a field hearing on medical debt collections at noon, EST on Dec. 11 in Oklahoma City. Collection & Credit Risk
Collection Agencies Will Contact One in Five About Medical Debt
Americans pay three times more in medical debt to collection agencies than they pay for credit card and bank debt combined, according to a study by NerdWallet Health. Collection & Credit Risk
ACA International Responds to Medical Debt Report
ACA International CEO Pat Morris issues a statement regarding the work being done in resolving medical accounts. Collection & Credit Risk
Fair Isaac’s New Scoring Model Downplays Medical Debt
Fair Isaac Co. revealed Thursday that its revamped credit score model will not weigh medical debt as heavily as previous versions, a key change given that medical debt accounts for nearly half of all unpaid collections on consumers' credit reports. Collections - Other Consumer
CFPB Study Targets Changes to Credit Scoring for Medical Debt
WASHINGTON -- Consumers with medical bills in collection can see their credit scores hit by as much as 22 points compared to those with other types of debt, according to a study released Tuesday by the Consumer Financial Protection Bureau. Collections - Other Consumer
