Rep. Kildee Introduces Bipartisan Legislation to Prevent Unexpected Medical Bills From Hurting Credit Scores
Congressman
The bill would amend requirements for reporting medical debt under the Fair Credit Reporting Act. It institutes a 360-day waiting period before medical debt will be reported on a consumer's credit report, giving Americans time to pay their medical bills before their credit report is affected. The bill also removes paid-off and settled medical debts from credit reports.
According to a report from the
"Getting sick, including unexpected medical bills, is already a huge burden for families. We shouldn't overly punish someone who unexpectedly gets sick by also penalizing their credit score, which affects their interest rates when it comes to their mortgage, car insurance and ability to get a loan. Especially during a global health pandemic, the last thing families should be worrying about is destroying their credit score," said
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