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Changes to Credit Scores

Effective July 1, the three main credit reporting agencies, which are Equifax, Experian and Trans

Union, will remove approximately 70 percent of medical collection debt from consumer credit

reports, according to the Florida Realtors Association.


In addition, the time period will increase from six months to a year before unpaid medical

collection debt appears on a consumer’s report. This change will help consumers with a medical emergency retain a higher credit score, which assists in buying property, vehicles and other products.


According to Forbes, approximately 23 million Americans have at least $250 in medical debt at

any given time and medical debt is the number one reason for bankruptcy for consumers




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