Our mission at Central Professional Services is to provide you with the information and resources necessary to make it possible to resolve your collection account. It is our goal as a professional collection agency to provide the necessary resources and information for you to use. If you have questions or concerns, we very much would like to speak with you about them and assist you in any way we can. Please do not hesitate to browse the options below and contact us with any questions.

Medical Debt Collection Data

March 2022

As industry and consumer needs evolve, the nationwide Credit Reporting Agencies (“CRAs”) Experian, TransUnion, and Equifax continually seek ways to ensure the data we maintain on our consumer credit files is accurate and timely, thereby serving the needs of our business clients and consumers. This communication is intended to provide details about changes to Medical Debt Collection Data reported by Collection Agencies and Debt Buyers. The CRAs agreed to three changes on medical collection accounts, no longer displaying paid accounts, waiting 1 year from the date of first delinquency to accept this data, and no longer accepting medical collections under at least $500. Approximately 70% of medical collections will be impacted by these changes.

• Effective July 1, 2022 paid medical collection debt will no longer be included on consumer credit reports
• Effective July 1, 2022 the time period before unpaid medical collection debt will appear on a consumers report will be increased from 6 months to one year
• In the first half of 2023, medical debt collection accounts under a predefined minimum threshold (will be at least $500 and published later this year) will no longer be included on consumer credit reports.

We suggest that your organization determine what impacts these reporting changes will have on your processes if any. We realize your organization's full understanding and readiness to any change is critically important. As such, we will continue to update you and respond to your questions and inquiries the best we can.

Questions? Additional communications will be provided on this transition effort as they become available. Should you have any questions, please contact:

• Equifax: cust.serv@equifax.com
• Experian: DataReporting@Experian.com
• TransUnion: TUDAS@TransUnion.com

Consumer Rights Information

Know your rights: Click on any link below for more information

Debt Collection Agency Scams Michigan

Fair Debt Collection Practices Act

Fair Credit Reporting Act

Telephone Consumer Protection Act

Consumer Financial Protection Bureau

The Federal Trade Commission consumer information and frequently asked questions about the Fair Debt Collection Practices Act (FDCPA)

Federal Trade Commission: Consumer Information

https://www.consumer.ftc.gov/articles/debt-collection-faqs

Debt Collection Frequently Asked Questions

Managing Debt: What to do

Professional Credit & Debt Management Resources

KnowMyDebt

Know My Debt explains:

• The laws and regulations related to debt and credit that protect consumers.
• How to work with a debt collector on delinquent debts, including specific explanations for student loan debt.
• Answers to common questions about credit reporting and credit scores.

Free Credit Report

Get your annual free credit report click here: https://www.freecreditreport.com/