Colorado bill that would keep medical debt from impacting credit scores heads to Senate floor

COLORADO (KRDO) -- Senator Tony Exum from Colorado Springs is pushing for HB23-1126 to be signed into law.

The bill Exum is sponsoring would prohibit consumer reporting agencies from including medical debt in credit reports, meaning medical debt would not impact credit scores.

“Medical debt, which is often unexpected and accrues rapidly, can have impacts on credit scores and reports even if the debt has been settled with creditors,” Exum said in a press release. “This creates barriers for folks trying to access necessities like housing, utilities, and loans, and it needs to change. With this bill, we’re putting in place new consumer protections that will help ensure Coloradans’ financial futures are not unduly impacted by their medical debt.”

HB23-1126 is now going to the Senate floor to be considered.