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Medical debt reforms threatened by Trump pause on new regulations

The Trump administration’s pause on new regulations threatens reforms made to ease the burden of medical debt. Although such reforms are broadly popular, and half of Americans worry they will be bankrupted by a major medical event, Republicans have opposed allowing the medical debt…
Editorial News

ARM 2025: Technology Adoption and Regulatory Uncertainty Ahead

Technology adoption and potential regulatory changes will be top of mind for collections agencies for 2025. Technology will help increase agency efficiency and increase collections. And potential regulatory changes could result in substantial changes to the collections landscape. Here is a brief look…
Bankruptcy News

Wall Street Banks Prepare to Sell Billions of Dollars of X Loans

Banks are getting ready to sell billions of dollars in debt borrowed by Elon Musk’s X, bringing Wall Street a step closer to exiting the nerve-racking deal that financed the social-media company’s buyout. Morgan Stanley bankers have reached out to investors ahead…
Legal News

How removing unpaid medical bills from credit reports could help consumers

NEW YORK (AP) — Lenders will no longer be able to consider unpaid medical bills as a credit history factor when they evaluate potential borrowers in the U.S. for mortgages, car loans or business loans, according to a rule the Consumer…
Educational News

Paying down debt is Americans’ top financial goal for 2025. Here are some tips that can help

When it comes to financial resolutions for 2025, there’s one goal that often lands on the top of the list — paying down debt, according to a new survey from Bankrate. That’s as a majority of Americans — 89% — say they…
Government News

CFPB Finalizes Rule to Remove Medical Bills from Credit Reports

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will remove an estimated $49 billion in medical bills from the credit reports of about 15 million Americans. The CFPB’s action will ban the inclusion of medical bills on…
Editorial News

CFPB Aims to Stop Debt Collectors From Contacting Borrowers at Work

The Consumer Financial Protection Bureau (CFPB) is working to prevent unlawful debt collection targeting consumers at their workplace. The regulator said in a Thursday (Jan. 2) blog post that it continues to crack down on companies that harass consumers, pointing to actions it took in 2014 and 2018 against…
Bankruptcy News

A giant US hospital chain says it’s leading the fight against medical debt. Not all patients agree

Advocate Health, one of America’s largest hospital chains, says it is working hard to confront one of the biggest problems in US healthcare today – promoting itself as “a leader in the effort to solve the nation’s medical debt crisis”. The non-profit…
Legal News

How Doctors Are Pushing Medical Credit Cards on Patients

David Zhao signed up for a medical credit card while supine in a dentist’s chair, fluoride trays in his mouth. In December 2018, the consumer lawyer from Los Angeles went for a routine dentist appointment at Western Dental in San…
Educational News

US Education Dept cancels loan forgiveness plans impacting 30 million students weeks before Trump takes office: What borrowers should know

Plans Scrapped: Biden administration cancels two major initiatives: The year 2024 has been tumultuous for US student loan borrowers in the, marked by notable shifts and lingering uncertainties. From the end of the long-standing payment pause to rising interest rates, many…