 Med debt - credit reports (by Gene [OH]) May 11, 2022 6:11 PM
 Med debt - credit reports (by 6x6 [TN]) May 11, 2022 6:31 PM
Med debt - credit reports (by Gene [OH]) May 11, 2022 6:46 PM
Med debt - credit reports (by DJ [VA]) May 11, 2022 6:52 PM
Med debt - credit reports (by Still Learning [NH]) May 11, 2022 7:26 PM
Med debt - credit reports (by Vee [OH]) May 13, 2022 9:23 PM
Med debt - credit reports (by Gene [OH]) Posted on: May 11, 2022 6:11 PM
Message:
Changes for consumers made jointly by Equifax, Experian, and TransUnion
The three nationwide credit reporting agencies - Equifax, Experian and TransUnion - have agreed to three important changes to reporting medical collection accounts.
• Paid medical collection debt will no longer be included on consumer credit reports, as of July 1, 2022.
• The time period before unpaid medical collection debt will appear on a consumer’s report will be increased from six months to one year, also effective July 1, 2022. This change gives consumers more time to work with insurance and/or healthcare providers to address medical collection debt before it appears on credit reports.
• Medical debt collection accounts under at least $500 will no longer be included on consumer credit reports. This goes into effect the first half of 2023.
These significant changes to medical collection debt reporting support consumers faced with unexpected medical bills.
--99.165.xx.xxx |
Med debt - credit reports (by 6x6 [TN]) Posted on: May 11, 2022 6:31 PM
Message:
Thank you for sharing that.
I remember reading about them considering that a while back, maybe I read it here?
Was this a law passed or just from the credit reporting agencies? --73.120.xx.xxx |
Med debt - credit reports (by Gene [OH]) Posted on: May 11, 2022 6:46 PM
Message:
The information was in an email from Equifax. --99.165.xx.xxx |
Med debt - credit reports (by DJ [VA]) Posted on: May 11, 2022 6:52 PM
Message:
Hmmm..... interesting.
If I see someone has actually paid off a debt that went to collection - medical or otherwise - it's a plus.
On the other hand, a bunch of small ones (under $500) is a negative.
So, this change certainly won't help in evaluating an applicant's credit report. --68.229.xxx.xxx |
Med debt - credit reports (by Still Learning [NH]) Posted on: May 11, 2022 7:26 PM
Message:
Came across a few debt stories this last round of vacancies. One person said it was due to Covid and then said she was almost caught up getting things paid off then Covid hit. Another said well I have dental collections when I said no collections. I gave him a chance to explain if he was making payments and there silence like he was dumbfounded he should pay. Then there was the one I rented to. Said I’m nit sure where my credit score is. I had multiple collections and I just paid them all and have proof but I’m not sure how quick it will show up on my credit report. I think she worked with a lawyer, negotiated settlement, took out a loan and paid them off. Now she wants to protect her score and increase it. --107.77.xxx.xx |
Med debt - credit reports (by Vee [OH]) Posted on: May 13, 2022 9:23 PM
Message:
Using easy rent collection will help raise credit score if prompt payments are going on repeatedly. --76.190.xxx.xxx |
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