I thought that all medical collections under $500 were to fall off your credit report as of 2023 but I am showing a collection for $435 from American Radiology Consultants assigned 4/17/2020 and I have zero idea what it's from or why it's still there. Apparently it's now with Receivable Management Group. Do I need to dispute to have it fall off or should that have been automatic?
Starting Score: 587
I have not had any experience with medical debt (thankfully) but yes, beginning in 2023 medical debts under $500 should not be included on the reports. TU, EX, and EQ have all stated this would take place within the first half of 2023. I would say go ahead and dispute.
From the CFPB - CFPB Publishes Analysis of Potential Impacts of Medical Debt Credit Reporting Changes ... "Starting in 2023, medical collections tradelines less than $500 will no longer be reported on consumer credit reports."
While I'm sure there are people who have started having some of these come off already, I believe (from what I've read) they're supposed to start falling off in larger numbers somewhere around mid year, June or so.
I just got off the phone with TU and that's exactly what they told me. They have until mid-year so if the collection is still there in June to reach back out.
I'm not sure if my call sped up the process or my timing is impeccable but hey! It fell off and raise my score by 13!