cancel
Showing results for 
Search instead for 
Did you mean: 

Federal watchdog questions whether credit reports should include medical debt

Adkins
Legendary Contributor

Federal watchdog questions whether credit reports should include medical debt

From the Washington Post:

 

 The CFPB questioned whether this debt should even be reported to the credit bureaus and thus factored into credit scores, which are used to determine people’s creditworthiness for loans, apartments or insurance.

 

 As of the second quarter of 2021, 58 percent of bills that were in collections and on people’s credit records were medical bills, according to the CFPB.

 

Sure enough, the dizzying flood of billing statements caused my now-26-year-old daughter a lot of stress. She had received services from out-of-network medical professionals at the in-network hospital. Eventually, some of the charges were removed, yet she’s still in financial limbo, waiting to see whether her insurance will cover thousands of 

The CFPB questioned whether this debt should even be reported to the credit bureaus and thus factored into credit scores, which are used to determine people’s creditworthiness for loans, apartments or insurance.

 

Mod cut - @Adkins post was edited to ensure it meets myFICO Forums TOS guidelines including this policy.

Last HP 06-03-2022



Message 1 of 4
3 REPLIES 3
Dinosaur
Moderator Emeritus

Re: Federal watchdog questions whether credit reports should include medical debt

@Adkins

Great read! Thanks Smiley Happy
Starting Score: 850
Current Score: 831
Goal Score: 850


Take the myFICO Fitness Challenge
Message 2 of 4
Adkins
Legendary Contributor

Re: Federal watchdog questions whether credit reports should include medical debt

You're welcome, @Dinosaur!

Last HP 06-03-2022



Message 3 of 4
Adkins
Legendary Contributor

Re: Federal watchdog questions whether credit reports should include medical debt

Thank you for the TOS reminder. 

Last HP 06-03-2022



Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.