Rethinking the effect of paid medical debt on credit scores

Medical debt can be a black mark on consumers' credit reports, even if the debt ultimately is paid. The Consumer Financial Protection Bureau has acknowledged the problem, and recently VantageScore Solutions decided to ignore paid collection actions on its credit scoring. Several lawmakers are expressing interest in addressing the issue by prohibiting medical bills from being reported to credit reporting companies or requiring that credit bureaus remove the debt 45 days after it is settled.

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