Medical debt banned from credit reports by new Biden administration rule

https://www.10tv.com/video/money/consumer/medical-debt-banned-from-credit-reports-by-new-biden-administration-rule/530-1af35f5f-9e00-4b0a-9222-d8ab0f411452

29 comments

  1. Let’s see how many weeks it takes the orange turd to reverse that rule

  2. I wonder how this will impact write-offs for medical providers. Iirc for medical debt to be written off it must be sent for collection.

  3. This is going to let so many people find housing, credit scores ruined by medical bills get people denied for apartments every day.

  4. So people won’t pay medical debt, then medical cost will increase to cover the non paid bills and insurance will go up for all. Biden is addressing a symptom and worsening the problem.

  7. Many people are going to have a better credit score! For another 8 days.

  11. And a Republican judge in Texas will issue a nationwide injunction against it in a few weeks. Probably cite Loper Bright while he’s at it. And the fifth circuit will shamelessly uphold it.

  12. The medical components companies will just offer a “med credit” number and offer it as a service for a fee.

  13. Slumlord Jared will be getting rid of this in no time

  15. Yet some how Biden is an bad president, hurting the people

  16. This is probably a stupid question, but if there’s no repercussions on your credit score, what incentive do people have to pay medical bills whatsoever?

  20. Couldn’t they just randomly execute CEOs of large healthcare corporations in effort to modify their behavior?

  21. I had a baby in the NICU, and just shattered my ankle. Like the world thought, “hey, you don’t have enough medical debt, here’s some more!” Very thankful it won’t impact credit scores otherwise my husband and I would never be able to buy a house. Not that we can afford to anyway, but still.

  22. This is a pretty huge deal!! This is going to help a LOT of people!!

  24. When this is undone by Trump, he’ll probably say something like “We’re gonna carve Jesus into Mt. Rushmore!” and everyone will be too distracted by that to notice, and then the news cycle will move on.

  27. This will be repealed as soon as possible once trump gets in. I would not make financial decisions until it is for sure he will or will not do so

  29. You can’t just remove debt from the report and act like it doesn’t exist. So now instead they’ll be able to get a house and then they’ll just default on mortgage payments or rent and get further into debt.

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