The biggest credit reporting firms will remove medical debt from consumers’ credit reports.
Beginning in July, 29222 the companies will remove medical debt that was PAID after sent to collections
New UNPAID medical debts will not get added to credit reports for a full year after being send to collections.
The firms are also planning to remove unpaid medical debts of less than $500, in the first half of 2023.
Medical debt is a huge burden for many Americans. Medical emergencies and unexpected diagnoses often result in giant bills, The unpaid bills end up on credit reports, sometimes lowering consumers’ credit scores and hindering their ability to get affordable mortgages, car loans and other credit.