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I think elimination of medical debt is already in the law - Truthhurts

Posted: Nov 10th, 2019 - 7:09 pm In Reply to: Such a good idea!! - Remove the blood suckers

Not sure but I think the government passed a law a couple years ago that medical debt shouldn't be reported to credit agencies. Okay, I was partially right. :)

September 15, 2017
Amid all of the recent fallout from the Equifax hack, there’s actually one bit of good news this week about your credit report: A new set of rules taking effect today will make it harder for medical debt to hurt your ability to borrow money.

The three credit reporting agencies now have to wait 180 days before putting an unpaid medical bill onto your credit report. And unpaid medical bills that later get paid by your insurance must be removed from your report rather than lingering, and continuing to damage your score.

“It’s a big deal,” says Matt Schulz, senior industry analyst at Creditcards.com. “It builds time into the messiness of getting insurance claims taken care of.”

Until now, there was no grace period—medical debt could appear on your report as soon as the bureaus received notice of any unpaid bills from a collection agency. That’s problematic because medical offices can send unpaid bills to collections on their own schedule—whether that’s after just 30 days, 60 days or longer—while insurers may take longer to fully process claims

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Such a good idea!! - Remove the blood suckers (Views: 517, 2019-11-10, 10:27 am)
- Wish upon a star and it doesn't exist. - Poof! (Views: 265, 2019-11-10, 10:58 am)
  - Bernie thinks China’s social credit system is the bomb! - nm (Views: 247, 2019-11-10, 1:24 pm)
    - So he wants to give the government total and complete - access to everyone’s financial situation. (Views: 270, 2019-11-10, 2:11 pm)
  - If Bolshevik Bernie had his druthers, he'd eliminate - private everything. (Views: 251, 2019-11-10, 1:33 pm)
- This sounds like what China is doing. What could go - wrong? (Views: 270, 2019-11-10, 12:55 pm)
  - The IRS refused nonprofit status to conservative groups - for years, in violation of the law. (Views: 316, 2019-11-10, 1:51 pm)
- Already somewhat in existence. Google, Facebook, - Amazon, Twitter etc. already (Views: 231, 2019-11-10, 1:02 pm)
- No. I’m not going to invite the Trojan Horse of direct - govt intrusion into my financial (Views: 300, 2019-11-10, 1:05 pm)
  - Politicized credit reporting at its finest. Everything is - political now, even funerals. (Views: 344, 2019-11-10, 1:41 pm)
- LOL! yeah, I'm going to listen to the ideas of a silly little - man whose never had a REAL (Views: 313, 2019-11-10, 1:18 pm)
  - Bernie doesn't think anyone should be a billionaire. - Does he even realize that's (Views: 246, 2019-11-11, 6:16 am)
- new system would use a “transparent algorithm - to determine creditworthiness (Views: 227, 2019-11-10, 3:08 pm)
  - Just what we don’t need — politicized credit ratings, - where democrats and millennials (Views: 239, 2019-11-10, 3:36 pm)
- I think elimination of medical debt is already in the law - Truthhurts