Medical debt relief on the way
Summer and Tom Johnson of Post Falls are seen here with their 14-year-old son Isaiah. Summer shared with The Press their family is $40,000 in medical debt. Starting Friday, Equifax, Experian, and TransUnion will remove nearly 70% of medical collection debt trade lines from consumer credit reports and increase the time period before unpaid medical collection debt appears on credit reports from six months to a year.
Courtesy photo
A joint measure between Equifax, Experian and TransUnion is expected to remove nearly 70% of paid medical collection debt from consumer credit reports starting Friday. The agencies will extend the time to report a medical collection from six months to a year and not report any medical collection under $500.
Image via Shutterstock
The "big three" consumer credit reporting companies will change the way medical debt is reported to offer extended timelines and some reprieve for those buried beneath the weight of health care debt....
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