Report from Thordsen Law Offices
NEW YORK SETTLEMENT WITH THREE MAJOR CREDIT BUREAUS FOR CORRECTION OF CREDIT REPORTS REGARDING MEDICAL DEBT COLLECTIONS AND HOW THE DEBTS ARE TO BE REPORTED
Unpaid medical costs, comprises more than half of all collection items (sent by debt collection companies to the credit bureaus) on credit reports(p.7). Medical debt collection items on credit reports may not be accurate reflections of consumers’ creditworthiness.
Collection Furnishers (collection agencies and debt buyers) will have to furnish the name of the Original Creditor and the Creditor Classification Code associated with each account or item reported. [Read more…]