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Those with medical debt on their credit reports could receive a 20-point boost, on average, in their credit score, the bureau said. Also, the rule is expected to lead to the approval of about ...
After that report, the three largest credit reporting companies agreed to remove several forms of debt from credit reports: paid medical debts, unpaid medical debts less than a year old and ...
Americans who mostly had medical debt on their reports went into delinquency at similar rates to other consumers with credit scores 8-to-10 points higher, the study concluded.
Reports of unpaid debt can tank an otherwise strong credit score. The new CFPB rule would change that for about 15 million Americans with medical debt on their credit reports.
Undue Medical Debt, formerly RIP Medical Debt, [1] is a Long Island City–based 501(c)(3) charity [2] focused on the elimination of personal medical debt. [3] Founded in 2014 by former debt collection executives Jerry Ashton and Craig Antico, [4] the charity purchases portfolios of income-qualifying medical debt from debt collectors and healthcare providers, and then relieves the debt. [5]
(The Center Square) – The Consumer Financial Protection Bureau finalized a rule that would remove medical bills from credit reports and prevent lenders from using medical information in lending ...
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