Medical bills can be stressful enough without the added fear of damage to your credit report.
The good news is that the three nationwide credit reporting agencies — Equifax, Experian, and TransUnion — now treat medical collection debt differently than many other types of collection accounts.
Under current credit reporting policies:
Paid medical collection accounts are no longer included on U.S. consumer credit reports.
Medical collection debt with an initial reported balance under $500 is removed from consumer credit reports.
Unpaid medical collection debt generally cannot appear on your credit report until after a 365-day waiting period. This gives consumers more time to resolve billing issues, insurance delays, or payment disputes before the debt is reported.
This can be a major help for consumers because medical bills are often confusing, delayed, or tied up with insurance processing.
What This Means for Consumers
If you paid a medical collection account, it should be removed from your credit report.
If the medical collection was originally reported under $500, it should not appear on your credit report.
If an unpaid medical collection is $500 or more, it may still appear on your credit report after the waiting period if it remains unpaid.
That is why it is important to check your credit report and make sure medical collection accounts are being reported correctly.
Mistakes Can Still Happen
Even with these changes, credit report mistakes can still occur.
Review your credit report carefully. If you see a medical collection account that was paid, is under $500, does not belong to you, or is being reported incorrectly, you may have the right to dispute it.
You can view your credit report here:
https://thecreditbureau.com/consumer-credit-report/
If you find incorrect collection accounts or other errors on your report, learn how to dispute them here:
https://thecreditbureau.com/how-to-write-a-dispute-letter/
Questions? Email us at:
customercare@thecreditbureau.com
Or call The Credit Bureau at:
800-518-1077
