Reporting Medical Debt Payments as Positive Consumer Credit Information Act of 2024

Section 623 of the Fair Credit Reporting Act (15 U.S.C. 1681s–2) is amended by adding at the end the following:

A furnisher of medical debt information may furnish to a consumer reporting agency information relating to medical debt paid or settled by a consumer which antedates the consumer report of the consumer by one year.

A furnisher of medical debt information may furnish to a consumer reporting agency information relating to the satisfactory performance of a consumer meeting the obligations of a payment plan for a medical debt owned by such furnisher if—

(A) such furnisher and the consumer have entered into a payment plan with respect to the medical debt; and

(B) the consumer is meeting the obligations of the payment plan, as determined by such furnisher.

Consumer reporting agencies and credit score providers shall adopt reasonable procedures for positive information relating to a consumer’s medical debt described in this subsection so that such information is—

(A) included in a consumer report;

(B) utilized in the generation of any credit score; and

(C) provided to users of consumer reports and credit scores in a manner which is fair and equitable to the consumer in accordance with the requirements of this title.

In this subsection:

The term credit score has the meaning given in section 609(f)(2).

The term credit score provider means an entity that generates and makes available a credit score to a person.

The term furnisher of medical debt information means an entity that—

(i) owns a medical debt; and

(ii) provides to a consumer reporting agency information relating to transactions, accounts, balances, repayment terms, repayment history, and similar information relating to such medical debt.

The term medical debt means a debt arising from the receipt of medical services, products, or devices.