Good Changes are coming for credit Reporting

Experian, TransUnion, and Equifax recently announced that they will remove medical collection debt from credit reports starting July 2022. This will clear out roughly 70% of medical debt from the credit reports of US consumers

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BackyardShaman · 61-69, M

Medical billing is usually wrong, over and double charging, etc.. Every incident of this should be daily reported in the news.

hartfire

I can't see how that would be a positive change.
Debt is still owed, irrespective of whether its reported or not.
Isn't it better to know the whole truth rather than only part of it?
Surely the sum of all debts owed is a more honest representation of our real financial position.

Reflective · 36-40, M

I agree, it is better. I do feel you should pay your debts. I myself carry none. But this could give those who end up with a lot of medical debt a chance to not be put in a position where they have to pay more for the big ticket items, which would allow them to pay down their debt.

zonavar68 · 56-60, M

who actually cares about their credit status?

Reflective · 36-40, M

Usually people with good scores.

zonavar68 · 56-60, M

@Reflective Maybe. i've never inquired what my 'score' might be, and I'd probably be the worst 'credit customer' since once I get rid of my small balance credit card soon, I'll have no credit at all.

bijouxbroussard · F

@zonavar68 People who want to buy cars, homes, etc. and aren’t wealthy.

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