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MEDICAL DEBT IS BEING WIPED OFF CREDIT REPORTS. WHAT THAT MEANS FOR YOU


MEDICAL BILLS THAT GO INTO COLLECTION WILL NO LONGER DAMAGE CREDIT REPORTS ONCE
THEY HAVE BEEN PAID

Americans Are Taking on Record Debt in 2022. Are We in Trouble?
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Americans Are Taking on Record Debt in 2022. Are We in Trouble?Play video:
Americans Are Taking on Record Debt in 2022. Are We in Trouble?

Americans have massively increased the amount of credit they've taken on this
year. With prices expected to continue rising, this could be flashing a warning
sign about the economy. WSJ’s Dion Rabouin examines these trends and explains
what they tell us. Photo composite: Elizabeth Smelov
By
Ayse Kelce
July 11, 2022 7:00 am ET

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Millions of Americans will now see a cleaner bill of health on their credit
reports, making it easier for many to get an apartment or apply for a loan.

Effective July 1, the three major credit reporting bureaus have removed medical
debts that went into collection but were subsequently paid. In the past, these
types of debts would remain on reports for as long as seven years.

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