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
