Clean Slate through Repayment Act of 2022

Hozzl · 2022-12-30T04:18:55Z

Explore the details of House Bill 6749 Clean Slate through Repayment Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Education. Stay informed on legislative developments.

12/30/2022, 4:18 AM

Summary of Bill HR 6749

Bill 117 HR 6749, also known as the Clean Slate through Repayment Act of 2022, is a piece of legislation introduced in the US Congress. The main goal of this bill is to provide individuals with a pathway to financial recovery by allowing them to have certain debts removed from their credit reports after they have been fully repaid.

The bill outlines a process by which individuals can request that debts, such as medical bills, student loans, and credit card debt, be removed from their credit reports once they have been paid off in full. This would allow individuals to rebuild their credit and improve their financial standing.

Additionally, the Clean Slate through Repayment Act of 2022 includes provisions to ensure that credit reporting agencies comply with the requirements of the bill and do not unfairly penalize individuals who have successfully repaid their debts. Overall, this legislation aims to provide individuals with a second chance at financial stability by giving them the opportunity to have certain debts removed from their credit reports after they have been fully repaid.

Congressional Summary of HR 6749

Clean Slate through Repayment Act of 2022

This bill provides for the removal of any adverse credit history related to a defaulted federal student loan from a borrower's credit history once the borrower has repaid in full the amount due on the loan.

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Current Status of Bill HR 6749

Bill HR 6749 is currently in the status of Bill Introduced since February 15, 2022. Bill HR 6749 was introduced during Congress 117 and was introduced to the House on February 15, 2022. Bill HR 6749's most recent activity was Referred to the House Committee on Education and Labor. as of February 15, 2022

Bipartisan Support of Bill HR 6749

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Policy Area and Potential Impact of Bill HR 6749

Primary Policy Focus

Education

Alternate Title(s) of Bill HR 6749

Clean Slate through Repayment Act of 2022

To amend the Higher Education Act of 1965 to remove the record of default on a loan made, insured, or guaranteed under title IV from a borrower's credit history upon repayment of the full amount due on such loan.