Season 6 Episode 2 - How To Remove Medical Collections From Your Credit Report.

                            How To Remove Medical Collections From Your Credit Report.
(c)copyright, 2021-2030

According to Federal Law, you are entitled to request that Credit Reporting Agencies remove any child support-related information from your credit report. Furthermore, Equifax, TransUnion, and Experian are mandated to thoroughly review and expunge medical debt from your credit reports upon request. This provision serves to protect individuals' credit profiles from being negatively impacted by certain types of financial obligations.


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Transcript

How To Remove Medical Collections From Your Credit Report.

chrish289@proton.me
 (c)Copyright, 2021-2030

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Introduction:
welcome in today's session we will discuss removing medical debt from your credit report or removing medical errors from your credit report in this episode this is brand new information the the big three reporting agencies which are called national credit reporting agencies equifax experian transunion now supports that as of this summer beginning july they will remove 70 of what's called medical debt or medical errors from your credit report yes this is brand new information you hear more about it and and we will talk further the cfpb which is a consumer financial protection bureau estimate that there's about 88 billion dollars in medical information that are on your credit report and majority of it is incorrect information or

 unreported information and therefore they've decided to take the next step to remove to ask the agencies to remove erroneous information so what this boils down to is that when unpaid medical expenses show up on your credit records it is usually because they haven't been paid in a long time or simply because they're incorrect billing now we've decided here on our channel that we're going to introduce financial education yes while you're on child support and while you're while you're attempting to get on child support we're going to provide

 information on the child support topic but also to improve your financial education and this is one of them now we have two other videos called strategies for improving your your credit and your finances as well as how to remove child support from your credit report please do review those videos so now that the the three what is called nash reporting agencies have said they're going to remove erroneous information on your credit report regarding medical information let's see how that works with your strategy in order to improve your finances as well as to get off chels child support remember folks the reason for us being here and

 providing you with education is that this is your credit information this belongs to you and therefore you need to take the necessary steps to remove it hello my name is chris and in this session we're going to talk about the new news from the government wherein as the child the credit reports are now will remove what is called erroneous or incorrect billing from your credit report as always if you have any questions or comments regarding any of our program please feel free to reach out to us at our email as well as we ask for donation we provide you with information that you could use to improve your life in your child support as well as your

 financial life which we're now looking at and all we're asking for is a donation via cash app or paypal also we provide this information on our podcast that is spotify apple and amazon

we did a prior video called understanding jurisdiction part one and part two please feel free to check that out because as you know by now jurisdiction is the cornerstone of our legal process if you intend on getting away from child support so let's look at the bill itself that started started the steps the necessary steps to remove erroneous medical information from

 your credit report it's the bill called hr 5330 and this was passed into law back in december 5 2019 and it became effective this year in 2022. so if you want to review that bill for so we're going to highlight some what's going on

so according to the consumer financial protection bureau medical debt burden united states is one of the what is called the precursor towards bankruptcy as well as bad credit in addition to other type of credit like student loan and mortgages but medical debt such as a catastrophic illness can result in you having bad credit we are just out of the phase of what is called covet 19 the pandemic and through that process there were many medical issues such as vaccinations such as people getting sick and long-term stay that has affected your credit report so what really happens on the credit report well if you have unpaid medical bills it will affect your credit report unlike financial institutions and retailers the medical industry or the billing industry they have about a hundred and eighty day waiting period before unpaid

 medical debt can show up on your credit report how do how does that work well you're working with a specific provider or you have co-pays or you use several out out of what they call network medical providers well they're not all communicating with each other they just have their portion of the bill in which they send to your insurance agency if they can't collect or there's a difference then they send that bill to you unfortunately the process for communicating all of that back to the consumer well there's somewhat of a process but so it's disconnected and as a result you could have a procedure or an illness or a co-pay of let's say fifty dollars that hasn't gone paid for several months then all of a sudden it shows up on your credit report and now your fico score drops about 50 points

so where does that leave us well where we are now is that you must dispute credit reporting as we've said congress has passed past the law and it says they're going to work with the crate agencies to ensure this but it's still it's up to you to disport dispute your credit so this brings us to the second part reason for us bringing you today and the reason why we're talking to you

 about improving your financial situation situation there's a a book a story called discredit which is employers are using credit reports in order to qualify workers and that was put out by amy troub again this is fair use so it's from demos organization it reads that credit reports were not designed as an employment screening tool instead they were developed as a means for lenders to evaluate whether a would-be borrower would be a good risk again the purpose of the fico score the credit report was just to determine what is called whether a lender can evaluate your credit risk what has happened well the employers decided to use this as a mechanism in which to determine their hiring process among a survey respondents who were unemployed one in floor says that the potential employers have requested permission to

 check their credit report as part of your job application yes as part of their job application to determine whether or not you are hired also what's happening if you've been on a job for a while they also can look at your credit report to see whether or not you can continue in that job now all of this may seem very unfair in fact we did further research congress attempted back in 2020 to pass a national ban on employment credit checks and they failed to pass an incentive as a result employers can refuse to hire a job candidate because of their bad credit report yes you can so in addition to having erroneous medical information on your credit report which results in a lower score your employer can use that same information to determine whether or not you're employed right now 11 states limit employment credit checks and those are california colorado connecticut delaware hawaii illinois maryland nevada oregon vermont and washington that means that leaves more than 30 plus states in which you can lose your job or they can refuse to hire you as a result of your credit report

so again we're bringing this to you as part of yes you want to get off child support and that's understood but in addition we're pointing out that your credit history in other words for you to bounce back from child support you also need to pay attention to your credit history now

 congress has done their part in terms of the medical erroneous and the national reporting agencies the equifax will remove that from you from your credit report but you still need to go the distance now on our website called childsupport.newsendler.com

we have a a module called removing child support from your credit report but also it helps you and give you tips and guidelines of how to improve your credit also we point out that there is a reward for improving your credit in addition to fixing your credit report but also preventing your employer from using that same information to either deny you a new employment or

 even just a raise now all this is on what is called our master class where we have information regarding you removing child support from your life now thanks for tuning in to this episode again this is brand new information about medical and the the credit reporting agency where they will remove the bad debt and thank you as always we're looking for donations we're always asked for those to help us bring you new more information and relevant as well as if you have any questions or comments on today's episode please feel free to reach out to us at our email and thanks have a good day