Today was a victory for consumers and lenders as well. Experian, TransUnion and Equifax will make the following changes in how they report information on your credit report:
1. Medical bills will not show delinquent until after 180 days in case a payment may have been received but not posted in a timely manner.
2. When a medical bill is paid, it will be removed from the credit report instead of just showing paid.
These changes will help some consumers benefit in form of having a better credit score if these things were affecting the score previously.
Lenders will benefit by saving time during the approval process because they will not have spend hours resolving medical bills that fall into the category mentioned above.