Equifax, Experian and TransUnion announced the move earlier this week, noting that with this change, nearly 70% of the total medical debt in collections has been wiped from consumer credit files.

And prior to July 2022, when the credit bureaus reduced the reporting of medical collections, even a paid medical debt could have remained on your credit report for seven years. But under pressure ...

On Tuesday, the three major credit bureaus — Equifax, Experian, and TransUnion — announced that medical collections with balances of $500 or less would no longer appear on consumer credit reports.

Overall, the CFPB found the changes in the reporting of medical collections have led to a significant reduction in the number of consumers with tradelines relating to medical debts on their ...