On January 7, 2025, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule that prohibits lenders from using medical information when making lending decisions and bans the inclusion of medical debts on credit reports. The rule is set to take effect on March 17, 2025.
The newly issued rule is helpful for those needing medical treatment due to injuries caused by the negligence of others. In order to have the best success of receiving the most amount of compensation from an insurance company, getting medical treatment as soon as possible is important. It is also key to get follow up care on a consistent and regular basis.
This new rule helps lessen concerns that the inability to repay medical debt before a case is settled could result in lower credit scores or be used to prevent one from obtaining a mortgage or other loan.
If you have been injured due to the fault of someone else, we would love to do a free consultation with you and have your case reviewed by one of our experienced attorneys. Give us a call at 229-247-2299. Our team does a great job assisting clients with finding medical care and to ensure the best success when going up against the big insurance company.
See the full article at Consumer Financial Protection Bureau by clicking here
