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Money

Source: StoryBlocks / Radio One Digital

It is always a glorious day when we get a boost in our credit reports!

The three big reporting credit agencies, Experian, Transunion, and Equifax have sad that they are making a number of changes to the way they handle medical debt on credit reports. Lenders use credit reports to determine whether a consumer is a good bet for a loan, which means a poor credit score can make it hard to get a mortgage, car loan or other products. Credit reports can also affect people’s ability to rent an apartment and even get a job.

This is how they will be making some changes regarding to medical bills on our credit reports :

Paid medical debt will be dropped from consumers’ credit reports

The time period before unpaid medical debts in collections will appear on a credit report will increase from 6 months to 1 year

The credit bureaus will drop medical collection debt under $500 from credit reports

This is great news because we all could use anything that is going to help us with our credit reports and get a better score!

But, can we please talk about getting rid of these student loans next?!