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New 'medical debt' reporting rules could save your credit score

New 'medical debt' reporting rules could save your credit score

If you have a lot of medical bills, your credit score could soon be protected for a set period of time, and it all starts in September.

Lawmakers say September 15th, 2017 is the day when the three main credit reporting agencies Experian, Equifax and transunion will wait 180 days before including medical debt on a consumer's credit report.

Chris Dishaw says it's good news for him. He says he constantly checks his credit scores after he hurt his back several years ago.

"That left me with thousands tens of thousands of medical debt that I've been unable to pay off," said Dishaw, who now runs a small shop in Ralston.

Financial experts say the six-month waiting period will give people with insurance enough time to work out any disputes before it knocks down your credit score.

Kris Udhus also struggles with medical bills.

"Before I didn't have established credit and now I do because of the collection agency in which means it's already hurting my credit score when I didn't have any credit to begin with," said Udhus. "If they were to have a six-month delay period to get things figured out, it would really help people."

"I'd be able to get with insurance and even get with the medical provider because sometimes they have opportunities and payment plans," said Dishaw. "The finances are not as important as your health and getting back on your feet so you can pay and support yourself."

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