RMAi Blog

OCTOBER 4, 2024

On October 1 st , 2024, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced actions to reduce the burden of medical debt and address medical debt collection practices in a coordinated event with the White House. Collecting unsubstantiated medical bills. Collecting amounts for services not received.

Medical Billing 130

Medical Billing Collector Debt Collections Credit and Collections 130

RevCycle

APRIL 25, 2024

The Problem: Mounting Healthcare Debt Medical bills are a leading cause of debt in the United States, with millions struggling to afford necessary care. These methods often: Discourage communication: Patients may avoid calls or letters from collectors, delaying resolution.

Debt Collections 185

Debt Collections Collector Medical Billing Deductions 185

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.

Credit Reporting Agencies 130

Credit Reporting Agencies Medical Billing Debt Collections Credit and Collections 130

RevCycle

JULY 26, 2023

In fact, medical debt is the leading cause of personal bankruptcy in the country. In recent years, there has been a growing trend of medical debt credit cards being offered to patients. These cards allow patients to finance their medical bills, but they often come with high interest rates and fees.

Collector 184

Collector Credit and Collections Medical Billing Debt Collections 184

Fundera

SEPTEMBER 18, 2018

Unlike the IRS, your local municipality might report your unpaid tax bill directly to a debt collector. Such debts are often sold to third-party collectors, who report nonpayment to the credit bureaus, which will severely ding your credit score. Utility Bills.

Credit Scoring 93

Credit Scoring Small Businesses Credit and Collections Collector 93

Due

MARCH 3, 2023

It is possible to ruin your finances without insurance if you do not have enough cash to cover a large medical bill, car accident, house fire, or theft. Credit collectors are trained to increase your anxiety levels to sky-high levels when you have bad credit. It’s a small price to pay for ample protection.

Credit Scoring 105

Credit Scoring Bankruptcy Medical Billing Brokerages 105

Due

MARCH 3, 2023

It is possible to ruin your finances without insurance if you do not have enough cash to cover a large medical bill, car accident, house fire, or theft. Credit collectors are trained to increase your anxiety levels to sky-high levels when you have bad credit. It’s a small price to pay for ample protection.

Credit Scoring 64

Credit Scoring Bankruptcy Medical Billing Brokerages 64