CALL US TODAY: 775 415 - KIRK (5475)

Register for Our Next Live Webinar:

"The Momentum-Maker Mastermind: Mindset, Methods, & Metrics"

Join Kirk on April 12th @9:45 AM (Pacific Time)

GET FUNDED FAST FOR HOME AND BUSINESS!

Kirk Jaffe Enterprises, Inc. has funded thousands of companies just like yours. Contact Us today to Get Started!

Our Services

Kirk Jaffe Enterprises, Inc. has multiple services for home buyers and business owners.

Make us your preferred solution for home and commercial real estate.

MORTGAGE LENDING

We offer the most competitive rates and excellent service beyond closing. Guaranteed! PRO.

REAL ESTATE AND PROFESSIONAL CONSULTING

We offer guidance to real estate professionals, tax professionals, lawyers, and CPA's.

BUSINESS CONSULTING

Are you ready to grow your business to
the next level and beyond. Kirk has helped hundreds of businesses and
can help you get there faster.

INVESTMENT ASSISTANCE

Our proven track record in solid investments has help hundreds and could help you too. Ask us how!

FIND OUT WHY KIRK JAFFE IS THE BEST CHOICE FOR LOANS AND HELPING BUSINESSES GROW!

Kirk Jaffe, CEO/Founder – Executive Management of $200MM private investment fund including Mortgage Notes, Real Estate Owned (REO) and Commercial Property Holdings. He has overseen and held executive authority of over 20,000 real estate transactions in his 20-year real estate career including buying and selling of property, foreclosure, short sale, loan modification, rehabilitation of property with an aggregate over $1 Billion value. Kirk has also originated over $ 1 Billion of new Mortgages.

Kirk is the past President of the Universal City/North Hollywood Chamber of Commerce as well as a former co-chair of the ALFN Commercial Practices Committee. He is active as a speaker and moderator of several trade organizations including the CA Mortgage Bankers Association (CMBA), Mortgage Banking Association (MBA), and the Attorney Legal Financial Network (ALFN). Mr. Jaffe is quoted or has been a guest of several media outlets including: KABC790 Talk Radio, NBC and the Los Angeles Daily News to name a few.

Kirk Has Appeared On:

How Can We Help

You Today?

Start Quote

Change Plan

Contact

Let Us Know What You Need!

We custom fit every service to your personal business needs. Whatever it is, we have a solution. Just click the button below to get assistance today!

If you're looking for a firm who can help you with not just your mortgage, but help you GROW YOUR BUSINESS FAST... you're where you should be!

  • MORTGAGE LENDING
    We offer Custom Tailored mortgages for Home or Business!

  • BUSINESS CONSULTING

    Grow your business FAST with our Business Consulting Services!

  • INVESTMENT CONSULTING - REAL ESTATE ASSETS
    Our win/win approach to investing has helped hundreds. FIND OUT MORE!

  • REAL ESTATE PROFESSIONALS
    If you are a real estate professional and are ready to work with a partner with years of experience, you're in the right place.

  • CPAS, ATTORNEYS, AND INSURANCE PROFESSIONALS
    If you have questions about the potential legal implications of real estate transactions for your clients, Kirk Jaffe has the answers!

1 / 5
2 / 5
3 / 5
4 / 5
5 / 5

WHAT OUR CLIENTS HAVE TO SAY

“What a GREAT guy Kirk is! I highly recommend him and his services all the time and for my own home loan needs. Why would I say that as a Broker myself? Well as a Buyer and a Broker I cannot have my hand into many aspects of the transaction, so I trust Kirk with my financing needs he has yet to let me down! "

Steve Duncan

"Kirk is my go-to lender. He has worked many “miracle situations” and provides top notch service from start to finish...."

Jeff J. Grice

"I have known Kirk Jaffe for many years. Kirk has a stellar reputation. You can see his reviews by going to www.mycity.com/profile/kirk-jaffe."

Bob Friedenthal

"When I need any information regarding the Real Estate Financing space for a client, my first call is to Kirk Jaffe. He is knowledgeable, professional, and experienced. He stays on top of cases and follows up with clients. He is a true asset to my business."

Bruce Fine

"Kirk works hard and well day and night, a kind person and gets it done fast!"

Melissa Oppenheimer

"Kirk did a fabulous job. He walked me thru the process and it was incredibly easy compared to other mortgages I've done. Thanks to Kirk, my house closed in under 21 days, and he got me a great interest rate."

CHARLIE JEWETT

WHY WORK WITH KIRK JAFFE ENTERPRISES, INC?

Because we offer the best service at affordable rates and will help your company grow faster! Click the button or
CALL US AT (775) 415 - KIRK (5475)

blog image

CFPB Finds 15 Million Americans Have Medical Bills on Their Credit Reports

April 30, 20243 min read

People living in the South continue to be most likely to have medical bills on their reports

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today released research showing that 15 million Americans still have medical bills on their credit reports despite changes by Equifax, Experian, and TransUnion. The 15 million Americans disproportionately live in the South and low-income communities. Collectively, they have more than $49 billion in outstanding medical bills in collections. This is the CFPB’s second analysis of the changes made by the three national credit reporting companies to reduce the number of medical bills on credit reports. Today’s report follows the start of a CFPB rulemaking that will consider options to restrict the reporting of allegedly unpaid medical bills on credit reports.    

“Experian, Equifax, and TransUnion took steps to remove many medical bills in part because of the recognition that they hold little predictive value,” said CFPB Director Rohit Chopra. “Findings from our latest research reveal the impact of these changes and the need for further reforms.”

In early March 2022, a CFPB study found an estimated $88 billion in medical bills on Americans’ credit reports. Following that study, the three nationwide credit reporting companies – Equifax, Experian, and TransUnion – announced they would no longer report certain medical bills in collections. The companies announced they would increase the time before medical bills in collections can appear on credit reports – from 180 days to one year. Second, the companies would stop reporting medical bills that had been in collections but were resolved. Third, the companies would remove medical bills below $500 from credit reports.

Today’s research found the number of people with medical bills in collections on their credit reports has declined. As of June 2023, about 5% of Americans had unpaid medical bills on their credit reports – down from 14% in March 2022. Older Americans saw the largest improvement – 8.4% of older Americans had medical bills on their credit reports in March 2022 compared to below 3% in June 2023.

For the 15 million Americans with medical bills on their credit reports, today’s research finds:

  • Many live in low-income communities and the southern United States: The credit reporting changes were slightly less likely to help Americans in lower-income communities compared to those in higher-income communities. The changes did not do as much for individuals residing in the South. On average, people living in the South continue to have the most medical bills in collections and for the largest dollar amounts.

  • The average medical balance on credit reports increased from $2,000 to over $3,100: The credit reporting changes primarily removed smaller balances. As a result, the average balance of the remaining reported medical bills increased.

  • Most medical collections balances stayed on credit reports: The three national credit reporting companies removed many bills, and many people now have no remaining medical bills on their credit reports. However, a majority of medical collections balances remain on credit reports.

The CFPB will continue to prioritize fixing the credit reporting market, including issues that involve the reporting of medical bills. In addition to the September 2023 announced rulemaking to address medical bills on credit reports, the CFPB launched an inquiry into costly credit cards and loans that are pushed onto patients to pay for health care costs. The CFPB also took action against illegal nursing home debt collection practices, as well as against medical debt collection and credit reporting practices that violate the No Surprises Act.

The CFPB has taken actions against entities engaged in illegal medical debt collection practices. The CFPB shut down Commonwealth Financial Systems for illegal medical debt collection practices. The CFPB also ordered Phoenix Financial Services to pay millions in redress and penalties for attempting to collect disputed medical debts through unlawful collection letters and misrepresentations.

Consumer Financial Protection Bureau (CFPB)Medical bills on credit reportsEquifax, Experian, and TransUnionCredit reporting changesMedical bills in collectionsCFPB rulemakingIllegal medical debt collection practices
Back to Blog

Connect With US

CONTACT US TODAY

Need to reach us? Send us an email or give us a call today.


Kirk Jaffe Enterprises, Inc.

195 Highway 50, Ste 104-476

Stateline, NV 89449


Copyright 2024 Kirk Jaffe Enterprises All Rights Reserved