Numerous media outlets have reported that as of July 1st, the three major credit bureaus are removing paid-off medical debt from individual credit reports. In addition, according to Marketplace, any new medical bills that don’t don’t get paid right away, will not appear on credit reports for at least a year versus the current six months and, in 2023, unpaid medical debts under $500 will no longer show up on credit reports. Marketplace also says the the Consumer Finance Protection Bureau (CFPB) is looking into whether any medical bills should ever appear on a consumer’s credit report. Stay tuned.
Click here to read the full story at Marketplace.org.
