If you have medical debt weighing down your credit score, it may be wiped off your credit report in a few months.
Yet before you cheer the good news, first make sure your debt qualifies.
The three credit reporting companies — Equifax, Experian and TransUnion — recently announced that starting July 1, they will remove any medical debts that were sent to debt collectors and eventually paid off.
In addition, any unpaid medical debt won’t appear on credit reports for a year, up from the previous 6 months, in order to give consumers time with providers and insurers to address the bill.