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A few months before that, the agency fined an Indiana company working with medical debt for violating collection laws. Regulators said the company had “risked harming consumers by pressuring or ...
Congress shouldn’t be fooled and let a Trojan horse hurt consumers by nullifying state laws and the CFPB’s effort to get medical debt off credit reports. Chi Chi Wu is senior attorney at the ...
The National Consumer Law Center, Community Catalyst, and about 50 other groups last year sent letters to the CFPB and IRS urging stronger federal action to rein in hospital debt collection.
According to a 2022 survey from the Kaiser Family Foundation, 47% of US adults with medical debt have been contacted by a collection agency within the past five years due to unpaid medical or ...
In 2018, two local women from the Finger Lakes region in New York partnered with the nonprofit RIP Medical Debt after fundraising for the purpose of debt collection for debt forgiveness. The nonprofit looks for bundled packages of debt from first or third party agencies which the group negotiates to purchase at discounted prices (pennies on the ...
The three national credit reporting agencies — Experian, Equifax and TransUnion — said last year that they were removing medical collections debt under $500 from U.S. consumer credit reports.
The Fair Debt Collection Practices Act (FDCPA), Pub. L. 95-109; 91 Stat. 874, codified as 15 U.S.C. § 1692 –1692p, approved on September 20, 1977 (and as subsequently amended), is a consumer protection amendment, establishing legal protection from abusive debt collection practices, to the Consumer Credit Protection Act, as Title VIII of that Act.
The Consumer Financial Protection Bureau (CFPB) on Tuesday issued a consumer advisory to combat families being targeted by “illegal medical debt collection tactics.” The CFPB’s cited tactics ...