On July 1, 2022, some positive changes took effect regarding medical collection practices. First, all paid medical collections started falling off credit reports, and second, collection agencies were required to wait one year before reporting a medical debt to the credit bureaus. This was to give the consumer a chance to pay the debt before … Read more
As the result of a report issued at the beginning of March 2022 by the Consumer Financial Protection Bureau (CFPB), starting in July 2022 there will be some major changes to credit reports. These changes will impact approximately 20% of consumers in a very positive way. Beginning July 1, 2022, all paid medical collections will … Read more
The amount of consumers that file bankruptcy each year continue to decline since new laws went into effect in 2005 tightening the requirements for a consumer to be able to file. The numbers that still do file, however, are a bit staggering. In 2016 there were 800,000 bankruptcy filings. Statistics show that 60% of bankruptcies … Read more
Most people have cell phone bills, utility bills, rent payments,etc. While the majority of these do not report to the bureaus they can still affect your credit score if you become delinquent on them. Once you are past due on any of these items after a certain amount of time, they will be turned over … Read more