Site icon Ask Carolyn Warren

70% of Medical Collections OFF Credit Reports

Starting today, July 1, 2022, Experian, Equifax, and TransUnion will remove paid medical collections from credit reports.

From now on, medical debts less than $500 will not go onto credit reports.

There will now be a ONE YEAR grace period between the time a late medical debt occurs and when it goes on the credit report.

This is all according to a report titled “Medical Debt Burden in the United States” by the Consumer Finance Protection Bureau (CFPB).

They estimate that these new practices will remove about 70% of negative medical accounts off of credit reports.

That is GOOD NEWS for sure!

For your edification and inspiration, I wrote Credit Repair MINDSET. You can read the first chapter by using the “Look Inside” feature here In the companion Journal, I include my own personal story of going from a broke renter to a homeowner. .

Exit mobile version