Despite major credit bureaus' efforts to clear medical debt from credit reports, $49 billion remains, affecting 15 million Americans. The CFPB's latest study highlights these figures even after policy changes made since 2022 aimed at reducing the impact of medical debt on creditworthiness. These reforms included removing paid medical debts and debts under $500, yet a significant amount still burdens consumers, particularly in lower-income and minority communities. This persistent issue suggests a need for further reforms to alleviate the financial strain on affected individuals and improve fairness in credit reporting.
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