Feds Crack Down on Illegal Medical Debt Collection
On October 1, 2024, the Consumer Financial Protection Bureau issued guidance to prevent families from being targeted by illegal medical debt collection tactics. The Bureau says about 100 million Americans owe over $220 billion in medical debt. Medical bills are often confusing and filled with errors. The Bureau lists the common tactics collectors use, like double dipping to get paid, hounding consumers, and misrepresenting consumer rights. We explain.
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0:00 Illegal Tactics
0:54 Complaints
1:27 Statement
1:49 Sources
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Consumers can submit complaints about financial products or services:
Online: https://www.consumerfinance.gov/compl...
By Phone: (855) 411-2372
Read the Guidance: https://www.consumerfinance.gov/rules...
Read the press release: https://www.consumerfinance.gov/about...
Read the CFPB Annual Report (Source of Statistics): https://www.consumerfinance.gov/data-...
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