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Medical bills from various sources—credit cards, lenders, family, friends, or collection agencies—can quickly become overwhelming. But there's a potential solution: medical debt consolidation.
The Consumer Financial Protection Bureau on Friday ordered Commonwealth Financial Systems, a debt collection agency specializing in medical debt, to shut down as a result of what CFPB determined ...
Medical bills accounted for more than half of debt collection on consumers' credit records, according to a 2022 report from the consumer agency.. After that report, the three largest credit ...
In 2018, two local women from the Finger Lakes region in New York partnered with the nonprofit RIP Medical Debt after fundraising for the purpose of debt collection for debt forgiveness. The nonprofit looks for bundled packages of debt from first or third party agencies which the group negotiates to purchase at discounted prices (pennies on the ...
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]
According to a 2022 survey from the Kaiser Family Foundation, 47% of US adults with medical debt have been contacted by a collection agency within the past five years due to unpaid medical or ...
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