CFPB Research: Medical Bill’s Impact on Credit Reports
In 2022, following a study on medical bills impact on credit reports, the three nationwide credit reporting companies announced they would no longer report certain medical bills in collections. The CFPB's recent research how shown this chance decreased the amount of unpaid medical bills showing on credit reports from 14% in March 2022 to 5% in June 2023. However, the CFPB believes there is still work to be done. [5/2/24]