Credit News for U.S. Veterans!

New credit leniency and protections for our highly respected U.S. Veterans have been signed into law. Here are the important points to know:

  • Medical debts/collections incurred cannot be reported to a veteran’s credit report for one full year from the time the medical service was provided.
  • If any medical debt has been reported as delinquent, a collection, or a charge-off, it must be removed from the veterans credit report once it has been satisfied.
  • If a medical debt is in the process of being paid by the VA, and the Veteran provides the proper documentation to the credit bureaus, it must be removed from their credit report.
  • Veterans on active duty are to receive free credit monitoring that will alert them to any material changes on their credit reports.

Thanks to the Economic Growth, Regulatory Relief and Consumer Protection Act initiated by Senator Mike Crapo (R-ID) and signed into law May 2018.

Thanks to Credit Repair Resources, LLC, for this information.

Thanks to every United States Veteran and Service Member for protecting our great nation.

Please pass on this important information to every U.S. Veteran, because many have medical accounts and are unaware of this law. Thank you.

3 responses

  1. Good new post Carolyn. I’m actually in a lawsuit with Equifax that may go to court next month if they don’t change the venue to district or federal. One part is medical debt reporting. Per sept 17 2017 settlement that went into place nationwide the main bureaus were to wait 6 months to allow reporting but allowed after 2 months of a dunning notice. Then another part of my lawsuit is reinsertion of an alleged debt and personal address reinsertion. We shall see. Needed to do to get above 700 then onto 800. Sitting at a 690 now on Equifax. 775 trans and 604 experian. Contacted American Express general counsel on an account on Experian but shall see if they get back to me. They never have in the past. Always introducing on email then disappearing. Have them on reaging the debt. No date for several years and recharging off monthly which keeps my score decreasing 8 additional points every time. Have both collectors and law office they sent me to in violations as well. Thought Amex would jump at the chance to be done with me. But maybe not 🙂 hope you had a good summer.

    Cheers

    Randy

    ________________________________

    1. It will be very interesting to see how that plays out. Thank you for sharing and I wish you the BEST!

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