Collector Credit and Collections Credit Reporting Agencies 
RMAi Blog
SEPTEMBER 25, 2024
The bill also prohibits using any medical debt listed on a credit report as a negative factor when making credit decisions and gives individuals more room to address their medical bills before debt collection and reporting actions can take place. This bill will be effective on January 1, 2025.
CreditStrong for Business
SEPTEMBER 4, 2024
An original creditor owed an unpaid debt will often “charge off” a credit account and send it to a debt collection agency. Most collections will remain visible for seven years on your credit report. How Do Collections Affect Your Credit Score? The consumer’s existing credit score at the time.
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CreditStrong for Business
JULY 29, 2024
When a consumer has an unpaid debt, the lender will generally conduct their own in-house collection efforts for approximately 30 to 60 days. If the debt remains unpaid for 90 days, most original creditors will forward the account to a third-party debt collection agency. Can You Remove Paid Collections From Your Credit Report?
RMAi Blog
SEPTEMBER 13, 2024
On September 5, 2024 the CFPB issued its annual Fair Debt Collection Practices Act report. Medical debt, rental debt, and consumer complaints were among the topics focused on in the report. The report stated that the CFPB received approximately 109,900 debt collection complaints in 2023.
RMAi Blog
OCTOBER 14, 2024
In This Update Earlier this month, the CFPB issued an Advisory Opinion reminding debt collectors of their obligation to comply with the Fair Debt Collection Practices Act and Reg F’s prohibitions on false, deceptive, or misleading representations in the collection of medical debt (see RMAI’s October 4, 2024 Member Alert ).
CreditStrong for Business
AUGUST 27, 2024
If a consumer has an unpaid debt on an existing credit account, the original lender will eventually close the account and charge off the bad debt. Generally, these debts are reported to the credit bureaus and remain as a negative entry on your credit history for seven years. How Long Does It Stay on My Credit Report For?
CreditStrong for Business
OCTOBER 8, 2024
Most utility payments will not appear on your credit report and will not affect your credit. Some services are available that will report utility bill payments, but some only report to one credit agency, and others charge a fee. Does Paying Utilities Build Credit? Sign up for eCredable Lift.
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