Stuck with Medical Debts?
There was a new rule by the CFPB back in January that would have eliminated all medical collections from a borrower’s credit report. While this sounds good on the surface, there were some potential issues with it. So much so that the rule just got reversed by a judge, so the medical collections will not all disappear.
Here’s the good news-
Paid medical debt will not show up.
Unpaid medical debt less than a year old won’t show up.
Any medical debt under $500 cannot be reported to the credit bureaus.
How to hack the credit rules- pay medical collections to make them disappear and your score will skyrocket.
