What happens if you don’t pay a medical bill, now that medical debt may not hurt your credit score?
Unpaid medical debt will no longer affect credit scores, according to a new rule from Biden administration regulators who want to mitigate the financial repercussions of those bills.
New federal rule will remove medical debt from credit reports
In a major change that could affect millions of Americans' credit scores, the Consumer Financial Protection Bureau on Tuesday finalized a rule to remove medical debt from consumer credit reports. The rule would erase an estimated $49 billion in unpaid medical bills from the credit reports of roughly 15 million Americans, the CFPB said.
Hollywood Stars Fundraise to Help People Pay Medical Bills
Matt Damon has become the latest celebrity to chip in to a fundraiser helping people pay their medical bills. First launched in December by Veronica Mars actress Kristen Bell and internet personality Tommy Marcus, better known as Quentin Quarantino, the page raises awareness of different health-related fundraisers.
How removing unpaid medical bills from credit reports could help consumers
Removing medical debts from consumer credit reports is expected to boost the credit scores of millions of families by an average of 20 points.
Medical debt will no longer impact your credit under new federal rule
A new federal rule prevents medical debt from counting against Americans seeking credit for a variety of purposes. Finalized Tuesday by the Consumer Financial Protection Bureau (CFPB), the rule bans the inclusion of medical debt on credit reports while also prohibiting lenders from considering medical information in their approval decisions.
New Rule Erases Medical Debt From Credit Reports: What It Means For You
If you have any medical debt, you’ll be glad to know it will no longer appear on your credit report. On Tuesday, the Consumer Financial Protection Bureau (CFPB) announced the finalization of a rule that will remove an estimated $49 billion in medical bills from the credit reports of approximately 15 million people nationwide.
Bismarck seniors say removing medical debt from credit report is a net positive
The Biden Administration finalized a new rule Tuesday that would erase medical debt from credit reports. That should positively impact roughly 15 million American’s credit scores, according to the Consumer Financial Protection Bureau.
What the new medical debt-credit report rule could mean for patients, health industry
The Consumer Financial Protection Bureau's move could lead to providers seeking high payments before treatment, an economist warns. A health scholar says it could protect patients' financial futures.
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