‘One arm and one leg’: Good news for your credit report

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The Credit Reporting Bureau announced in March that it would begin borrowing most of the paid medical loans from people’s credit reports. At first, we weren’t sure it would be such a big deal. After all, unpaid medical loans will still exist, people will still be harassed by debt collectors, or even sued. But as it turns out, there are a number of reasons why these changes can be life-changing, and we want to give credit (good kind) where it deserves.

Changes include:

  • The repaid medical loan disappeared from the credit report on July 1, 2022.
  • Loans below $ 500 in March 2023 (even if you have not repaid them).
  • Any medical bills you receive for less than $ 500 after March 1, 2022 will not be included in your credit report.
  • From July 1, 2022 until a person is at least one year old, no medical bills – of any size – will appear on your credit report.

Also, some good changes to game loan collectors can play with your credit score.

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