Eliminating the ‘sick tax’: How medical debt may soon be wiped from credit reports
Millions of Americans are stuck with medical debt - the negative impact of unpaid medical bills on credit scores can linger for years, making it harder to qualify for mortgages and other wealth building opportunities. The Consumer Financial Protection Bureau has proposed a rule change that would remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to coerce people to pay. “What we have found is that it's often just plain inaccurate. People are stuck in a doom loop when it comes to dealing with insurance, dealing with a hospital or a provider… But often those bills get parked on a credit report, and a debt collector can coerce you into paying a bill you don't even owe, because you have to face the consequences of a lower credit score …” says CFPB Director Rohit Chopra. “We're saying that enough is enough. These bills really don't belong on credit reports. It's an intrusion on people's privacy, and it really is harming the entire system.
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#MedicalDebt #CreditReport #Economy
Пікірлер: 84
Years ago, I was denied a checking account by a bank because of medical debt. I did find another bank that would let me open an account, but I will never forget that experience.
Finally doing something for the People!
There should be a mandatory medical care saving system for every working person in the USA to cover routine healthcare and subsidised by industries like tobacco , alcohol through taxes and diverting a % of foreign aid .
@adamcolclasure4892
6 күн бұрын
That's what Singapore does minus the foreign aide part. Healthcare begins at birth as healthcare is human right under law. If the government runs a surplus the deposit the difference in everyone's healthcare scheme (I realize that would never happen in USA with what you spend on defense).
@johnunderwood43
6 күн бұрын
One serious illness can instantly eat up millions of dollars in savings. Also, just because you saved it doesn't mean it will be there when you need it.
@Scheherazade-wq1ve
6 күн бұрын
We used to have those who looked out for workers and their rights....they are called UNIONS!!! And somehow in the last 30 years the rich have convinced workers that unions are bad.....and so we have bezos and his ilk treating his employees like slaves. So unionize or stop whining. period.
@TheAmericanDreamed
6 күн бұрын
@@adamcolclasure4892 because Singapore probably don’t give any foreign aid or certainly nowhere near the amount usa does ,especially to wealthy corrupt countries
I'm all for less tax. also, FJB!
@christopherhughes8402
6 күн бұрын
So you love Joe bidens policies, you just hate Joe Biden who instructed the agency to make the changes? Dear god. Tell me you’re in a cult without telling me you’re in a cult.
@haroldmoore1412
6 күн бұрын
Red states pay almost no taxes because they are broke.
@YTPartyTonight
5 күн бұрын
You don't pay federal taxes. (Besides the fact this has nothing to do with taxes.) FJB & FDT more.
@VoltisArt
4 күн бұрын
Tariffs ARE taxes on imported goods that the country of origin doesn't pay - you do when you buy their products. You're not super-rich and your taxes will never go down because of anything Trump does, aside from losing _another_ election. COVID dropped prices because people weren't going out to spend money, and the Democrat-lead Congress gave us the stimulus checks Trump took credit for. COVID made the average American's financial life FAR better than Trump did or ever will. Donald Trump hates you as much as he hates me.
@AliVelshi thank you for sharing that you have you have experience with the medical collection snafu.
Omg …that is awful ..I live in Australia and we have $0 expenses for public health .very sad for Americans 😞
Biden should talk to Governor Ned Lamont about how he abolished medical debt for the state of Connecticut. Then Biden should explain why the same can't be done for the entire country.
Or just pass universal health insurance coverage.
@MrMatt531
6 күн бұрын
More federal government after everything they’ve pulled and the amount of debt they’ve incurred? No thank you
@Lost1nTranslation
6 күн бұрын
Msnbc is nauseated that you even suggested this...
@MrMatt531
6 күн бұрын
After everything the fed has pulled not to mention all the debt they’ve incurred? No thank you
@user-nc2qj2jc5q
3 күн бұрын
Love the public health service in Spain 🇪🇸🇪🇺👍
I don't have medical debt , no need for medical insurance.. Public health service of Spain 🇪🇸🇪🇺👍
It’s good to see ideas that both sides can get behind
@johnunderwood43
6 күн бұрын
Our credit and healthcare systems are the way they are because Republican donors make a lot of their money there.
@MrMatt531
6 күн бұрын
@@johnunderwood43 totally and completely incorrect. They donate mostly to Democrats
Too late for me. I’m a nurse. Just wipe my default student loan . I’m not going to pay it anymore. I have cancer. Sue me.
USA owned by the military industrial complex and medical industrial complex 🤔
So they could have done this earlier? Why now? This is the border 2.0
@christopherhughes8402
6 күн бұрын
I’m just happy Joe Biden directed the agency to make the changes. This is going to help a ton of working and poor folks in America. Way to go Joe!
@haroldmoore1412
6 күн бұрын
Cry harder troll.
@mr.e432
6 күн бұрын
@christopherhughes8402 this is manipulation for votes
@haroldmoore1412
6 күн бұрын
@@mr.e432 everything any politician does is for votes.
@suomynona4607
6 күн бұрын
@@mr.e432 So are all popular policies. Voters are being "manipulated" into voting for the guy who helped them over the one that tried to pretend a pandemic away causing 100K's of unnecessary deaths and turned the good economy he inherited from Obama into Hoover's.
No tax on tips🎉🎉Brilliant policy president Trump 🎉🎉🎉🎉
@user-mt8zc8ww1y
6 күн бұрын
No tax period
@Redsdaughter2
6 күн бұрын
It's debunked as a lie at the end of the day Shared tips was the game found out Restaurant owners had legal ability to just keep all the days tips
@haroldmoore1412
6 күн бұрын
Trump has no brilliant policy. He gave 2.1 trillion to the top one percent.
@deekang6244
6 күн бұрын
Wasn’t it Reagan that started the tax on tips? When my aunt worked during the 70’s, people reported a bare minimum.
As a progressive, I favor a single-payer healthcare system. However, as a fiscal conservative, I oppose stupid ideas, such as excluding medical debt from credit reports. If a person is up to his eyeballs in medical debt, why does the federal government want him to take on even more debt? Buying a house under these conditions is especially stupid because a person who cannot afford to pay the mortgage usually cannot afford to maintain the house.
@christopherhughes8402
6 күн бұрын
Apparently you don’t know that you credit score determines if and how much of a deposit you have to make just to get your utilities turned on, it determines what jobs you can get, what apartments you can rent, how much a used car loan so you can get to work costs. Maybe you are unaware as a “progressive “ all the ways your credit score negatively impacts poor and working families in America. Or perhaps you’re not really a “progressive”.
@johnunderwood43
6 күн бұрын
So you are a progressive? What, a Mussolini progressive or a NSDAP progressive?
As a lifelong democrat, I will proudly be casting my vote for president Trump
@TrannySlaytion
6 күн бұрын
😂❤🏳️🌈 Happy Pride Month!! 🏳️🌈❤️😂
@thehaywire8889
6 күн бұрын
Welcome 🇺🇸
@haroldmoore1412
6 күн бұрын
You have never been a democrat, troll.
@suomynona4607
6 күн бұрын
But as a lifelong mental patient, you pretend to be a lifelong democrat.
@deekang6244
6 күн бұрын
He’s the one who hands out so much money during Covid. It could have been used for medical debt.
TRUMP AGAIN FOR PRESIDENT 🇺🇸 2024!
@haroldmoore1412
6 күн бұрын
Nobody wants that.
@YTPartyTonight
5 күн бұрын
..i..
Cutting taxs won't help Americans people long term
@johnunderwood43
6 күн бұрын
And that has what to do with this video? It's talking about protecting people from financial harm because of healthcare problems.
@rjs7984
6 күн бұрын
@@johnunderwood43 because the US dollar is about go under completely next year and hyper inflation and interest rates
@DuelScreen
5 күн бұрын
@@rjs7984That's speculation. It's also pure fear-mongering by the right. Don't believe them. The dollar is perfectly stable right now.
@YTPartyTonight
5 күн бұрын
@@rjs7984 This has nothing to do with that land of make-believe nonsense of yours either. IOW, you're just babbling like huboon.
I love how Dems are doing tangible things that actually help people & Republicans are just complaining & cult-ing
@johnunderwood43
6 күн бұрын
And making noises like it's unreasonable for people to want to be protected from predatory credit agencies.
Vote red up and down the ballot.
@haroldmoore1412
6 күн бұрын
Said no smart person ever.
@feffygracie
6 күн бұрын
@@haroldmoore1412 Your definition of smart is debatable.
@haroldmoore1412
6 күн бұрын
@@feffygracie definition of words are not debatable, goofy.
@feffygracie
6 күн бұрын
@@haroldmoore1412 Oh, please! The lefties redefine words all the time.
@freddyfigueroa1378
6 күн бұрын
@@feffygraciethen go to Russia if you hate this country
TRUMP 4 MSNBC CEO/DICTATOR
@haroldmoore1412
6 күн бұрын
Trump lost by more than seven million votes.