Beginning in July 2022, the three major credit reporting agencies, Equifax, Experian, and TransUnion, announced they will remove approximately 70 percent of medical collection debt from their credit reports.
Specifically, paid medical collection debt will be the debt no longer included on consumer’s credit reports. The hope behind these efforts is to allow consumers more time to address their medical debt with their healthcare providers and insurance companies prior to the debt being reported.
More than 11 million American families are facing a crisis when it comes to housing, specifically when it comes to making their rent and mortgage payments, according to a new report released by the Consumer Financial Protection Bureau (CFPB).
The CFPB conducted a survey of the housing market during the coronavirus (COVID-19) pandemic and found that approximately 2.1 million American families are at least three months or more behind on their mortgage payments. Approximately 8.8 million of them are late on paying their rent.
