Serious accidents or unexpected illnesses can be devastating for Connecticut families and others around the country. In addition to dealing with the physical issues of recovery, many families become saddled with exorbitant medical bills. As consumers deal with these hardships, lawmakers have taken notice. In fact, a recent bill has been proposed that may provide some debt relief to those struggling with mounting medical expenses.
A U.S. senator from another state has recommended changes to how medical debt is reported under the Fair Credit Reporting Act. This proposed Medical Debt Relief Act would require collection agencies to wait 180 days before reporting a delinquency to credit bureaus. In addition, the National Consumer Assistance Plan provides instructions to delete those accounts from credit reports when they have been paid in full or settled by insurance.
Medical emergencies can wreak havoc on a consumer’s financial situation, even for those who had always paid bills on time. The sponsors of the new legislation recognize this and are attempting to alleviate some of the burden and stress of debt. Several senators from different regions of the country co-sponsored the bill, including Richard Blumenthal from Connecticut.
Consumers may be overwhelmed by debt from medical bills or other sources and the burden may seem insurmountable. A Connecticut bankruptcy attorney can be a valuable source of guidance when dealing with situations such as this. An experienced lawyer can review a variety of options for obtaining debt relief, then recommend the best solution to help clients get their financial situations back under control.