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Major Credit Bureaus Stop Reporting Medical Debt


Burdell
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The big 3 credit bureaus announced today they will make significant changes to reporting of medical debt.  

 

"Beginning in July, the companies will remove medical debt that was paid after it was sent to collections. These debts can stick around on a consumer’s credit report for up to seven years, even if they are paid off. New unpaid medical debts won’t get added to credit reports for a full year after being sent to collections. The firms are also planning to remove unpaid medical debts of less than $500 in the first half of next year. That threshold could rise, according to people familiar with the matter."

 https://www.wsj.com/articles/most-medical-debts-to-be-removed-from-consumers-credit-reports-11647604803 

 

 

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So right now the only two collections I have across ANY of my reports are both on TransUnion and they are medical collections that were unpaid medical bills and now have been paid this month.

 

So since they are paid medical collections, does this mean they are going to be removed in July according to this release?

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