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Changes to Consumer Credit Reporting

Settlement agreements between the three main consumer reporting agencies (TransUnion, Equifax, and Experian) and more than 30 state attorney generals from across the US have led to a series of reforms in credit reporting operations. These reforms are being implemented nationwide, and may have already impacted you as either a consumer or as a creditor, though deadlines for compliance are staggered across the next three years. Continue reading Changes to Consumer Credit Reporting

Does Credit History Matter in Self-Pay?

Believe it or not, a report issued by the Consumer Financial Protection Bureau states that up to 26 million people—or 1 in every 10—in the United States don’t have a credit history with one of the three nationwide consumer reporting agencies. Beyond that, roughly 19 million don’t have a credit history extensive enough to create a credit score.

What does this have to do with self-pay and hospitals? More than you might imagine.
Continue reading Does Credit History Matter in Self-Pay?