Credit bureaus will remove unpaid medical debt under $500 from credit report in 2023

The three National Credit Reporting Agencies (NCRA) – Equifax (NYSE: EFX), Experian (LON: EXPN), and Trans Union (NYSE: TRU) – today announced significant changes to medical debt collection reporting to help consumers facing unexpected medical bills. These joint measures will remove nearly 70% of commercial medical debt collection lines from consumer credit reports, a milestone achieved after months of industry research.

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According to the Kaiser Family Foundation, two-thirds of medical debt is the result of a one-time or short-term medical expense resulting from an acute medical need. After two years of the COVID-19 pandemic and a detailed examination of the prevalence of medical collection debt on credit reports, NCRA is making changes to help people focus on their personal well-being and recovery.

Effective July 1, 2022, paid medical collection debts will no longer be included in consumer credit reports. Additionally, the time before an unpaid medical debt appears on a consumer’s report will be reduced from 6 months to a year, giving consumers more time to work with insurance and/or healthcare providers. to settle their debt before it is posted on their account. Credit Report. In the first half of 2023, Equifax, Experian and TransUnion will also no longer include medical collection debts below at least $500 in credit reports.

The CEOs of the companies provided a joint statement on the decision to change the reporting of medical collection debts:

“Medical recovery debt often arises from unforeseen medical circumstances. These changes are another step we are taking together to help people across the United States focus on their financial and personal well-being,” said Mark W. Begor, CEO of Equifax; Brian Cassin, CEO of Experian; and Chris Cartwright, CEO of TransUnion. “As an industry, we remain committed to helping foster fair and affordable access to credit for all consumers.”

For more information, please visit: Equifax, Experianand Trans Union.

About Equifax

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics and technology company, we play a vital role in the global economy by helping financial institutions, businesses, employers and government agencies make critical decisions with greater trust. Our unique blend of differentiated data, analytics and cloud technology generates insights to support decisions to move people forward. Headquartered in Atlanta and supported by more than 13,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia-Pacific region. For more information, visit

About Experian

Experian is the world leader in information services. During life’s big moments – from buying a house or a car to sending a child to college to growing a business by connecting with new customers – we enable consumers and our customers to manage their data with confidence. We help individuals take financial control and access financial services, businesses make smarter decisions and thrive, lenders lend more responsibly, and organizations prevent identity theft and crime. .

We have 20,000 people operating in 44 countries, and every day we invest in new technologies, talented people and innovation to help all of our customers maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are part of the FTSE 100 index.

Learn more about or visit our global content hub on our global news blog for the latest Group news and insights.

About Trans Union

TransUnion is a global information and knowledge company that enables confidence in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call it Information for Good®.

A leading presence in more than 30 countries on five continents, TransUnion delivers solutions that help create economic opportunity, exceptional experiences and personal empowerment for hundreds of millions of people.

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