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NEW! April 2015 - The Credit Cleanup Newsletter - Inside:
  • Credit agencies to go easier on medical debts
  • A new credit score emerges 
  • In the future, computers will no longer process credit errors 
  • Last minute tax tips, and,
  • Just for laughs!
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Credit Agencies to go Easier on Medical Debts
If your credit score has suffered due to past due medical debts, things are about to change

In a recent Huffington Post article, I wrote about some major changes that the Consumer Financial Protection Bureau has proposed. They include: 

New 180-day grace period to allow time for medical debt repayment
Because medical debts take so long to process and pay (whether it's you or the insurance companies paying), the CFPB now offers more time to sort this out. 

Paid debts will disappear from credit reports
In the past, even you paid past due debt, it would still remain for years. For paid past due medical debts only,  once they are paid, they will disappear from your credit report.

HUFFINGTON POST, FINANCIAL EDUCATION

 

New Score Will be Based on Other Payment History


Your utility bill and mobile phone payments may now count toward a new credit score. Currently in a test pilot phase, FICO is considering alternative payment records to generate a score that will help people establish credit history.

Read the WSJ article
In the Future, More Humans Required to Review Credit Error Disputes

In the same proposal that overhauled the way past due medical debts show on credit reports, the CFPB also stated that more humans instead of computers will be required to process consumer credit error dispute requests. This will likely improve on the highly criticized automated system that currently exists. Sorry, computers.

Haven't Filed Yet?
Last-Minute Tax Tips


Hey procrastinators. While many of us are out enjoying spring weather, you'll be holed up at home sifting through receipts and paperwork. Luckily, here are some last-minute tax tips from around the web: 
Last Minute Taxes
7 Common Last Minute Tax-Filing Mistakes 
What you need to know about extensions
Last minute tax tips for 11th-hour filers

 

Just For Laughs 
By Jeff Kuns

Quote of the Day
"In an action film you act in the action. If it's a dramatic film you act in the drama."
Jean Claude Van Damme, Professional Kicker and Extra on dance-flick Breakin' (1984)

Pictures Worth 1,000 Words (or Less)
Great Moments in Consumer History
Well, it's something to do
Screen? What screen?
Aim high
Aim higher
Ask for a "Caesar" in Canada, here's what you get
We hope you enjoyed you enjoyed this installment of The Credit Cleanup Newsletter. We aim to provide the latest, insightful credit news that impacts your personal credit and finances. 

Warmly, 
Shindy

 

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