Credit Where It’s Due

Episode 6 of the An Arm and a Leg podcast, hosted by An Arm and a Leg, titled "Credit Where It’s Due" was published on May 26, 2022 and runs 17 minutes.

May 26, 2022 ·17m · An Arm and a Leg

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Summary

A lot of medical debt will be coming off of credit reports. We weren’t convinced it was such a big deal. Turns out, we were wrong

Episode Description

Credit reporting bureaus announced in April that they would start taking most medical debt off of people’s credit reports. At first, we weren’t sure that would be such a huge deal. After all, the medical debt would still exist, people would still get harassed by debt collectors, or even sued over it.

But it turns out, there’s a bunch of reasons why these changes could be life-changing, and we want to give credit (the good kind) where it’s due.

The changes include:

Paid-off medical debt disappears from credit reports on July 1, 2022
Debts under $500 (even if you haven’t paid them) come off reports in March 2023
Medical bills under $500 that you received after March 1, 2022 should will never be counted on your credit report
No medical bills – of any size– will appear on your credit report until they’re at least a year old, starting July 1, 2022

Plus, some an end to some games debt collectors can play with your credit score.

Here’s a transcript of this episode.

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