Partial relief for medical debt in credit reports
Equifax, Experian and TransUnion have removed medical debt under $500 from consumer credit reports, potentially boosting some Americans' credit scores. The move could help those with small amounts of medical debt obtain loans, rent apartments, or secure good interest rates. The credit rating agencies also announced last year that all medical collection debt paid in full is no longer included on credit reports. The changes come amid pressure from lawmakers and the Consumer Financial Protection Bureau, which found medical debt was the most common collection tradeline on credit records. There was more than $88 billion in medical debt on consumer credit records as of June 2021.