News items.
NC legislators are discussing new legislation which would relieve medical debt, especially for poorer families. House Bill 1039, “The Medical Bill De-Weaponization Act,” is intended to provide strict guide rails for hospital and medical systems regarding aggressive collections of medical debts.
Read about it on NPR:
North Carolina considers new laws to ‘de-weaponize’ medical debt and protect patients
New rules for credit reporting of medical debt are now in effect – here is how to check your credit report to make sure it is accurate.
Read on CNBC:
Settled medical debt is now dropping off credit reports — here’s how to check your record and make sure it’s right
The three major credit reporting agencies – Equifax, Experian and TransUnion – have announced a change to how medical debt will be reported. Medical debt paid within a year will be dropped for the report; later on, debts under $500 will not be reported at all. However, debts which have not been paid in full will continue to be reported. The good news for recipients of Debt Jubilee Project is that once the debt is paid, it will be removed from credit reports and no longer drag down credit ratings.
Read more from Forbes:
70% Of Medical Collection Debt Will Soon Be Removed From Credit Reports: Here’s What You Need To Know
