The CFPB recently published a report regarding how the national credit bureaus – Equifax, Experian, and Trans Union – handle medical collection credit reporting. The report analyzes the credit bureaus’ decision to refrain from reporting unpaid medical collections for one year and remove all paid medical debts from consumers’ profiles. The report also discusses the credit bureaus’ upcoming moratorium on reporting medical debts under $500 starting next year.
 
The CFPB found that when the bureaus remove unpaid medical debts under $500, it will erase a majority of individual medical tradelines from consumers’ profiles. The report also found that removing paid collections is less likely to have a substantial effect because collectors routinely fail to mark accounts as paid despite their legal obligations under the Fair Debt Collection Practices Act and Fair Credit Reporting Act. As a result, the CFPB will continue to monitor the situation and may take steps to block or limit the reporting of medical debt.
 
If you have medical collections on your credit reports or are receiving collection calls for unpaid medical debts, you should contact a Las Vegas debt collection attorney to discuss your legal rights.