Legislation Would Help Credit Ratings Sunk by Medical Debt
Congress is considering legislation (S 2149, HR 2086) that would aid consumers who have low credit scores as a result of issues related to medical bills and medical debt. Collection agencies are allowed to keep records of medical debt on file for seven years, but the Senate bill would require those debts to be scrubbed within 45 days of being settled or paid. The House bill only would affect medical debts up to $2,500.
- "Discrepancies on Medical Bills Can Leave a Credit Stain" (Siegel Bernard, New York Times, 5/4).