Mary Wilson
Well-known member
January 7, 2025, 4:07 AM
By Elizabeth Schulze
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.
That could help boost those borrowers' credit scores by an average of 20 points, helping them qualify for mortgages and other loans.
"No one should be denied economic opportunity because they got sick or experienced a medical emergency," ...
https://abcnews.go.com/US/new-federal-rule-remove-medical-debt-credit-reports/story?id=117404022
By Elizabeth Schulze
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.
That could help boost those borrowers' credit scores by an average of 20 points, helping them qualify for mortgages and other loans.
"No one should be denied economic opportunity because they got sick or experienced a medical emergency," ...
https://abcnews.go.com/US/new-federal-rule-remove-medical-debt-credit-reports/story?id=117404022