The credit reporting agency FICO has stated that it will be changing the way that it handles its scoring of medical debt by reducing the impact that such obligations have on people's credit scores. According to FICO's director of public relations, just because someone...
Credit card debt has affected many Ohio residents, and a common concern is whether proof of the debt can be requested. According to the Fair Debt Collection Practices Act, consumers have the legal right to request verification provided that the request is made within...
FICO scores help lenders assess the risk of lending to individual borrowers. However, according to a 2014 report from the U.S. Consumer Financial Protection Bureau, people who have mostly medical debt are penalized too severely compared to those with unpaid credit...
Discharge can signal a point of major relief for an individual who has dealt with major life events that have resulted in unexpected financial stress. In many cases, creditors have used ruthless tactics in an effort to obtain payments, making personal bankruptcy a...
Moving balances from one credit card to another and taking advantage of interest-only payment options can be financially damaging to people throughout Ohio. As the length of time it takes to pay a debt back extends, the overall interest charges will continue to grow....
Medical bills are a reality of life for many people in Ohio, but if they are paid on time, they may not become a recurring problem. However, a medical bill that goes into collections may wreak havoc on a credit score. A study by the Consumer Financial Protection...
Ohio residents may be interested to learn about how small debts can lead to big drops in their credit scores. Although many people believe that a debt under $100 may not affect a credit score very much, if it gets reported, it could actually end up lowering one's...
Ohio residents may be interested in how medical debt affects a person's credit rating. One study examined the effect that this debt has on people who may otherwise be good credit risks. When a person has an unexpected medical condition, the hospital bills that result...
When children can no longer provide adequate care for aging parents, they may decide to put them in a nursing home where they can be cared for by professionals around the clock. However, what happens if a parent passes and the nursing home sends the debt to a...
If the calls came from a debt collection agency, rather than internal Kohl's customer service representatives, the penalties for violating consumer protection laws could be more severe. In the meantime, choosing not to pay the overdue bill could damage the woman's...
