Experian, Equifax, TransUnion to Cut Most Medical Debt Reports

Experian, Equifax, and TransUnion said they will remove more than 70% of existing medical debt entries from credit reports, getting ahead of a review of the issue by federal regulators.

Beginning July 1, the three consumer credit bureaus will remove all medical debt that had been repaid. They will stop reporting in-collection balances under $500 starting in 2023.

The companies also will extend the time period before medical debt is added to a credit report from six months to one year, they said in a joint statement Friday. That would give consumers more time to repay debts before their credit ...