Equifax, Experian, and TransUnion have announced significant changes to how medical debt sent to collections will appear on consumers’ credit reports. The action will remove close to 70% of medical collection debt reporting tradelines from credit reports.
The following join statement was made by the companies’ CEOs:
“Medical collections debt often arises from unforeseen medical circumstances. These changes are another step we’re taking together to help people across the United States focus on their financial and personal wellbeing,” said Mark W. Begor, CEO Equifax; Brian Cassin, CEO Experian; and Chris Cartwright, CEO TransUnion. “As an industry we remain committed to helping drive fair and affordable access to credit for all consumers.”
Read the full announcement here, click here.
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