The three credit bureaus announced the removal of medical collections under $500 from consumer credit reports on April 11, 2023. The CFPB estimates that this reporting change removed at least one medical collection from the credit reports of 22.8 million people and removed all medical collections from the credit reports of approximately 15.6 million people.
Last year it was announced that medical collections under $500 that had been PAID were being removed from credit reports. Now all medical collections under $500 paid or not are being removed from peoples’ credit reports.
