TOPEKA, Kan. (WIBW) – Wichita is among the first quarter of cities that could benefit the most from recently announced medical debt credit report changes.
With recent changes from the credit bureaus expected to eliminate approximately 70% of business lines of medical collection debt from consumer credit reports, personal finance website WalletHub.com says it has released its report on the Cities Benefiting Most and Least from Medical Debt Credit Report Changes.
To see which cities benefited the most and least from the new changes, WalletHub said it compared more than 180 US cities across four metrics using TransUnion data. He said the data sets range from those with medical debt balances of less than $500 to those with medical debt less than a year old.
According to the study, Wichita ranked among the top quarter of cities that benefited the most from the changes. Wichita ranked 25th overall with a total score of 65.07 with a rank of 29 for residents with medical collection debts, a rank of 29 for residents with medical collection accounts with lower balances at $50, a rank of 19 for residents who have paid at least one commercial line of medical collections and a rank of 41 for residents with less than a year of medical debt.
The study ranked Kansas City, Mo., in the top 100 with an overall ranking of 57 and an overall score of 45.75. It ranked 47th for residents with medical collection debt, 48th for those with medical collection accounts with a starting balance below $500, 73rd for those with at least one medical collection business line paid and 60th for those with medical debt of less than one year.
Finally, residents of Overland Park appear to be benefiting the least from the changes in the Sunflower State with an overall ranking of 115 and a total score of 23.64. The study found that Suburban ranked 129th for those with medical collection debt, 124th for those with medical collection accounts with a starting balance of less than $500, 72nd for those who had at least one commercial medical collection line paid and 100ths for those with medical debt less than a year old.
The study found that the cities benefiting the most from the changes are:
- Norfolk, Virginia.
- Newport News, Virginia.
- Gulfport, miss.
- Huntington, West Virginia
- Amarillo, TX
The study also found that the cities benefiting the least from the changes are:
- New York, NY
- St. Paul, Minn.
- San Francisco, California.
- Minneapolis, Minnesota.
- Fremont, Cali.
For more information or to see where the other states are located, click HERE.
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