Equifax Sales Agent
Medical collection debt change on the horizon￼
Equifax, Experian, and TransUnion have announced significant changes to medical collection debt reporting to support consumers faced with unexpected medical bills.
Here are the changes that will be effective July 1, 2022:
- Paid medical collection debt will no longer be included on consumer credit reports;
- The time period before unpaid medical collection debt will appear on a consumer’s credit file will be increased from six months to one year;
- In the first half of 2023, Equifax, Experian, and TransUnion will no longer include medical collection debt under $500 on credit reports.
Each consumer’s credit profile is unique, and individual credit score impacts will vary. As these changes roll out, please contact us if you have any questions.