Credit reporting bureaus announced in April that they would start taking most medical debt off of people’s credit reports. At first, we weren’t sure that would be such a huge deal. After all, the medical debt would still exist, people would still get harassed by debt collectors, or even sued over it. But it turns out, there’s a bunch of reasons why these changes could be life-changing, and we want to give credit (the good kind) where it’s due. The changes include:Paid-off medical debt disappears from credit reports on July 1, 2022Debts under $500 (even if you haven’t paid them) come off reports in March 2023Medical bills under $500 that you received after March 1, 2022 should will never be counted on your credit reportNo medical bills – of any size– will appear on your credit report until they’re at least a year old, starting July 1, 2022Plus, some an end to some games debt collectors can play with your credit score. Here’s a transcript of this episode.Subscribe to our newsletter, First Aid Kit.Send your stories and questions: https://armandalegshow.com/contact/ or call 724 ARM-N-LEGAnd of course we’d love for you to support this show. Hosted on Acast. See acast.com/privacy for more information.