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Credit Reporting Agencies Announce Changes to Medical Debt Credit Reporting

The three major credit reporting agencies (credit bureaus) announced today that they are making changes to how medical debts are reported. This will lead to the removal of nearly 70% of medical debt tradlines from consumers’ credit reports.

Starting July 1, 2022, any paid medical collection debt will no longer appear on a consumer’s credit report. In addition, the credit bureaus have extended the period of time before an unpaid medical can be reported to one year, from six months currently. Finally, starting in 2023, the credit bureaus will not include any unpaid medical debt of less than $500 on consumers’ credit reports.

“Medical collections debt often arises from unforeseen medical circumstances. These changes are another step we’re taking together to help people across the United States focus on their financial and personal wellbeing,” said Mark W. Begor, CEO Equifax; Brian Cassin, CEO Experian; and Chris Cartwright, CEO TransUnion. “As an industry we remain committed to helping drive fair and affordable access to credit for all consumers.”

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