The Likely Effects of Removing Medical Bills from Credit Reports

Recommendable! Why not remove mortgage debt from credit reports too! I think, credit reporting should be as complete as possible and relevant.

"This week the Consumer Financial Protection Bureau announced that it will begin a process that could result in removing medical debt from credit reports. This will affect consumer finances in important ways, and responses to this policy on the part of both lenders and health care providers could undercut the intended goals of this policy.

Roughly 16-18 percent of credit reports include medical collections, which are unpaid bills from health care providers that have been sent to a collections agency and reported to a national credit reporting agency. The total value of these medical collections is roughly $88 billion, though that figure has fallen in recent years. Medical collections are the majority of all collections reported on credit profiles, though they are a modest share of the $4.7 trillion of non-mortgage debt held by consumers ($17 trillion including mortgages). ..."

The Likely Effects of Removing Medical Bills from Credit Reports | American Enterprise Institute - AEI