Ep# 116 Medical Collections Being Removed From Credit Reports

by Tim Hart | May 3, 2022 12:26:00 PM

Medical Collections Being Removed From Credit Reports Starting on July 1, 2022 there are some big changes coming to the credit reporting for consumers.

We are going over these changes with Doug Swan from SARMA in today's episode.

 

This is great news for consumers! Medical collections will not be able to report to the consumer credits report for 365 days. This will give the consumer more time to work with their insurance company or to pay the bill outright before it hits your credit report.

Paid medical collections will be removed from your credit report. In the past, a paid medical collection would stay on your credit report and it could have negatively affected your credit score.

The good news does not stop in July. Starting in March 2023 any medical collection under $500 will not be reported to the credit bureaus.

You can find more episodes of The HartBeat Show Podcast at the links below!

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Born and raised in Southwest Florida, I have been in the Mortgage business since 2001 I'm a grizzly, battle tested mortgage veteran. I am also the Host of Rates & Reels, which is the most popular fishing show in Southwest Florida, hosted by a guy named Tim. In my spare time I love spending time with my family, coaching baseball, and anything else my kids or wife want me to do. I would be happy to help you or someone you know with any of your Mortgage needs.

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