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This Type of Debt Will No Longer Harm Your Credit Score

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This Type of Debt Will No Longer Harm Your Credit Score, By Chris Kissell. Millions of Americans have run up big medical bills, incurring debts they struggle to pay. The big three credit-reporting companies — Equifax, Experian and TransUnion — have announced that they will remove nearly 70% of medical collection debt from consumer credit reports. The new policy is due to go into effect on July 1st and includes two major changes:, • Paid medical collection debt no longer will appear on consumer credit reports. • Those with unpaid medical collection debt will have one full year before this type of debt appears on their credit report. . In addition, sometime in the first half of 2023, the credit-reporting companies will stop including medical collection debt under at least $500 on credit reports

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