Popular credit score provider announces new credit scoring method that could affect your credit
If you owe medical bills, your credit score may go up.
The nation’s top credit score provider Fico plans to use a new credit scoring method where medical debit in collections will have less of an impact on consumer’s credit score.
The company says the median Fico score for those who have medical debt in collections will jump by about 25 points.
The change means many consumers with medical bills they can’t pay, will look less risky to lender and will likely be able to qualify for better rates and deals.