New CFPB Rule Keeps Medical Debt Off Credit Reports

New CFPB Rule Keeps Medical Debt Off Credit Reports: What You Need to Know
Americans will no longer have to decide what’s more important: Their health or their credit score. Finalized on January 7, a new rule from the Consumer Financial Protection Bureau (CFPB) prohibits credit reporting agencies from including medical debt information in the credit reports and scores they provide to lenders.
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.
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.
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.
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 to be barred from credit reports - a FOX 4 report
Medical debt to be barred from credit reports - a FOX 4 report
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.
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