Credit reporting companies will remove stains from repaid medical debt

 

Source: Tara Siegel Bernard, N.Y.Times ( Paid Registration )

Equifax, Experian and TransUnion said that they will soon wipe away credit stains created by certain medical debts. 

Starting on July 1, medical debts that were paid after they went to collections will no longer appear on consumers’ credit reports, where they can currently linger for up to seven years. New unpaid medical debts will now only appear after a full year of being sent to collections — instead of the current six months. That will give people more time to address the debt with their insurance companies and health care providers.

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