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CFPB Weighs Ban On Medical Debts In Credit Reports

Collection Industry News

More than half of the debt that appears on credit reports as being in collection stems from medical bills, the agency found. Unpaid medical bills became a bigger concern during the pandemic, and now, a federal consumer agency is considering whether those debts should be banned from consumer credit reports.

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A New Era for Debt Collection?

Burt and Associates

Introduction: Provides an overview of the CFPB’s enforcement actions addressing illegal debt collection practices in 2023. Case Summaries: Summarizes four specific enforcement actions taken by the CFPB against debt collection companies, highlighting the violations found and the remedies imposed. Enforcement 5.1

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A giant US hospital chain says it’s leading the fight against medical debt. Not all patients agree

Collection Industry News

Advocate Health, one of Americas largest hospital chains, says it is working hard to confront one of the biggest problems in US healthcare today promoting itselfas a leader in the effort to solve the nations medical debt crisis. The health system also added: We recognize that no large organization is perfect or without a need to improve.