New Waiting Period for Reporting.

Medical debts can be as convoluted and hard to understand.  One medical stay can produce billing for multiple doctors with multiple billing companies, requiring multiple payments.  Often times the confusion leads to bills being unpaid unawares.

Well, there is good news.

New developments in reporting standards for charged off medical debts resulting from a settlement agreement with the New York attorney general, Eric Schneiderman, and the three credit reporting agencies — Equifax, Experian, and TransUnion, standardizes a 180 day moratorium on reporting unpaid medical debts to give consumers more of a grace period to negotiate and investigate claims of obligation to medical facilities.  This change affects 43 Million Americans, according to the Consumer Financial Protection Bureau.

Note that this is only good for medical debts moving forward- you cannot dispute accounts to be deleted prior to this ruling.  If you have detected a new medical debt on your credit report and you are wondering if this new rule includes the newly-arrived collection account on your report, call us at Delta Credit Restoration at 813-567-5855 for a free consult.

Make the Choice.  Make the Change.  Delta.