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Colorado led effort to conceal medical debt from credit reporting in 2023
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CBS Colorado, State

Colorado led effort to conceal medical debt from credit reporting in 2023

By Alan Gionet | CBS Colorado A move Tuesday, in the last weeks of the Biden Administration means credit reporting agencies like TransUnion, Equifax and Experian will no longer be able to include unpaid medical bills on credit reports. At least for now. The move is a duplicative one for Colorado residents after the passage of a first-in-the-nation law in 2023 barring the inclusion of medical debt on credit reports. "I'm just starting to feel that like, 'wow, this is like, this is pretty amazing,'" said Western Slope resident Misty Castaneda. "I got to be part of something to help change a massive amount of everybody's lives." READ THE FULL STORY AT CBS COLORADO
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Credit card debt reaching ‘crisis point’ for Coloradans this holiday season
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CBS Colorado, Local

Credit card debt reaching ‘crisis point’ for Coloradans this holiday season

By Mekialaya White | CBS Colorado Many Coloradans are busy being Santa's elves, purchasing and furiously wrapping last-minute gifts for their loved ones. However, holiday purchases can rack up quickly, adding to the increasing nationwide card debt problem. "The financial burden on credit cards has reached a crisis point," said Roger Reynolds, CEO of Reynolds Financial Group. "Recent studies have shown that over 40% of American households are using credit cards to help supplement their monthly expenses. About 25% are using them within the last month and 16% of Americans have actually been using credit cards to help pay their bills month in, month out." Credit debts are one of the most expensive loan options out there, according to Reynolds. READ THE FULL STORY AT CBS C...
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Survey: Nearly 50% of parents with young children take on debt for Disney trip
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Fox Business, National

Survey: Nearly 50% of parents with young children take on debt for Disney trip

By Daniella Genovese | Fox Business Nearly 50% of parents with young children are going into debt after taking a trip to one of Disney's theme parks, according to a recent LendingTree report. LendingTree surveyed more than 2,000 consumers, 24% of which have gone into debt for the trip, a 33% increase from its 2022 findings. However, that figure jumped to 45% among parents with children younger than 18, according to the data. Of the parents with young children who have taken on debt, almost all of them, 83%, did so in the past five years. Parents, faced with tighter budgets and persistent inflation, "are more likely to take on debt than before," according to LendingTree. READ THE FULL STORY AT FOX BUSINESS
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