Credit reporting agencies will wipe most medical debt
CNN
Three of the country's largest credit reporting agencies are removing nearly 70% of medical debt from consumer credit reports, the companies announced in a joint statement Friday.
Equifax (EFX), Experian (EXPGF) and TransUnion (TRU) will eliminate billions of dollars from the accounts of consumers who faced unexpected medical bills that they were unable to pay. The three firms said they made the move after months of research.
"Medical collections debt often arises from unforeseen medical circumstances. These changes are another step we're taking together to help people across the United States focus on their financial and personal well-being," the companies said in a joint statement.
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