HB4329

Michigan HB4329 aims to regulate the collection and reporting of medical debt information by consumer reporting agencies.

Michigan HB4329, known as the "medical debt act," prohibits consumer reporting agencies from including certain medical debt information in consumer reports. It establishes standards for the collection of medical debt and provides remedies for violations. The act defines terms such as "collection agency," "consumer," and "medical debt." It mandates that collection agencies must inform consumers that Michigan law prohibits reporting medical debt information unless it relates to a credit transaction exceeding the national conforming loan limit value for a 1-unit property.