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STARTING July 1, millions of Americans will have their medical debt removed from their credit reports.

The changes state that any medical collection debt that’s been paid by the consumer in full will no longer be included on US consumer credit reports.

1The first phase of changes take effect immediately

Additionally, the three companies: Equifax, Experian, and TransUnion, have also decided to increase the collection period from six months to one year.

This includes all unpaid medical debt in collections that have been on credit reports for under a year.

Typically, that debt can remain on your record for seven years.

This will offer consumers ample time to work with insurance and/or healthcare providers to address their debt before it's reported on their credit file.

Read More on Credit Card DebtDEBT RELIEF Americans will have debt wiped from credit reports from TODAY boosting scoresIN THE RED Your credit card debt is about to get even more expensive this week

Mark W. Begor, chief executive of Equifax; Brian Cassin, chief executive of Experian; and Chris Cartwright, chief executive of TransUnion, said: “Unexpected expenses, such as the cost of an unplanned medical visit, can be a hardship for many families."

"These changes will realign our approach to medical collection debt reporting in a manner that is designed to help consumers focus on their personal well-being,” they added.

Who will be impacted?

Effective immediately, millions of Americans will benefit from these changes.

Most read in MoneyCASHING IN Millions of Americans to get up to $700 in direct payments after the summerMONEY IS COMING Deadline to claim $500 direct monthly payments closes in TWO DAYSDEBT RELIEF Americans will have debt wiped from credit reports from TODAY boosting scorescashtastic Thousands of Americans to see $250 and $500 direct payments THIS WEEKEND

As noted above, the list includes:

  • All medical collection debt that has been paid in full will no longer be included on your credit report
  • The time period before unpaid medical collection debt will appear on your report will rise from six months to one year
  • In the first half of 2023, any medical debt under $500 will no longer appear on credit reports

Earlier this year, the companies said in a joint statement that these changes will effectively strip 70% of consumers' medical debt information from their credit reports. 

This comes as over two years into the pandemic, the Consumer Financial Protection Bureau (CFPB) has been calling on companies to change the way they report.

The CFPB reports that Americans have anywhere between $81billion and $140billion of medical debt.

The CFPB also revealed that medical collections were found on 43million credit reports.

A study by the US Census Bureau found that 19% of households are unable to afford their medical bills.

Additionally, nearly 1 in 10 Americans roughly 23million people, are facing medical debt starting at $250 according to a study by the Kaiser Family Foundation.

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This credit expert reveals five common mistakes you’re making that’ll destroy your score.

Plus, these four credit card mistakes could cost you $100s this year.

News Source: the-sun.com

Tags: credit reports debt credit cards debt help money saving money us millions of americans chief executive these changes credit card debt direct payments medical debt americans a study unpaid medical the consumer read any medical your credit

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Raiders Darren Waller Takes Subtle Shot at Jon Gruden

Getty Darren Waller with Jon Gruden.

Jon Gruden’s return to the Raiders wasn’t a big success but he did get the team going in the right direction. They improved in wins each year under him. However, expectations are a lot higher for a coach making $10 million a year and Gruden didn’t meet those.

Despite being fashioned as an offensive guru, one of the Raiders’ biggest issues under him involved the offense. The team could not score touchdowns in the red zone at a high enough rate. They were never better than 22nd in the NFL in red zone touchdown efficiency during Gruden’s time with the team, per Team Rankings.

The Raiders have had a perfect red zone target in Darren Waller. The star tight end is 6-foot-6 and can jump higher than most defenders can reach. Despite that, Waller only has 14 touchdowns in three seasons. He’s now got a new head coach in Josh McDaniels who will hopefully solve the Raiders’ red zone issues. Waller recently opened up about the red zone woes and made it seem like Gruden didn’t really know what he was doing when calling the offense once the field shortened.

“There was a lot of times in the last couple years where I felt like there wasn’t a clear defined attack in the red zone or like a plan for me specifically. I was kind of like “what the f*** am I doing?’ sometimes,” Waller said on the “Bussin’ with the Boys” podcast. “But now I kind of feel like that’s something that’s in place with Josh [McDaniels]… for me there’s no reason why my big a** shouldn’t be dominating in the red zone at all times.”

It certainly sounds like Waller is more confident in McDaniels’ ability to get him looks in the end zone than he ever was in Gruden.

“A lot of times in the past couple years…there wasn’t a clear defined attack in the red zone…that’s in place with Josh” @BussinWTB pic.twitter.com/VFYZzK6Kgv

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Can McDaniels Fix Raiders’ Red Zone Issues?

A big reason owner Mark Davis wanted to hire McDaniels was so that he can fix the red zone issues. The Raiders have too much talent on offense not to score more touchdowns. The team has a great kicker in Daniel Carlson, who led the NFL in scoring over the past two years, but they’d prefer if he came on the field a lot less.

In New England, McDaniels was able to field an offense that had success in the red zone. The Patriots ranked seventh in red zone touchdown efficiency last season, and they did that with a rookie quarterback. McDaniels now has Derek Carr, Josh Jacobs, Hunter Renfrow, Davante Adams and Waller to work with. He should have no problem getting the Raiders to score touchdowns all over the field this season.

Waller’s Training Camp Absence Finally Explained

Waller has missed several training camp practices in a row for the Raiders, which naturally causes concern. There’s been talk about him wanting a new contract so there was even speculation that he could be holding out. However, there’s finally more clarity on what ails him.

According to ESPN’s Adam Schefter, Waller has been held out of practice with a hamstring injury “that is not considered serious.”

Raiders’ TE Darren Waller has been held out of training camp due to a hamstring injury that is not considered serious, per source.

— Adam Schefter (@AdamSchefter) August 12, 2022

This is good news for the Raiders as he remains one of their most important players despite the trade for Adams.

READ NEXT: Antonio Brown Sounds off on Raiders Controversies in Wild Statement

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