Disputing errors on your credit report may become easier over the next several months. As a result of changes, the credit bureau reporting agencies will be making changes to how they handle the error dispute process and the way that they report medical debts on your credit report.
Here are the biggest changes:
- Changes will take place nationally over the next 6 – 39 months with all three credit bureaus
- Medical debt will now have a 180 day “grace period” before it can be placed on a credit report.
- Paid medical debts will “drop off” of the credit report “shortly after” paid rather than staying on for 7 years after final payment.
- Changes in processing disputes to improve, hoping for an improvement from 15% of disputes resolved and 85% referred back to the creditor or lender.