Photo: Getty Images
If you’re one of the millions of Americans that’s received a notice from a collection company for a medical debt, you’ll be happy to know that once these are paid they will no longer haunt your credit report. After some extensive research the three major credit bureaus have finally concluded that allowing these paid off debts to remain on people’s credit reports is doing way more harm than good, especially since they could be there as an eye sore for up to seven years. They have also reportedly agreed that as of July 1st they will no longer allow debts less than $500 to show up on your credit report.