On Monday, March 9, 2015, the three largest credit-reporting firms - Equifax, Experian and TransUnion - reached an agreement with New York State to overhaul their reporting and error resolution practices. Many of these changes will be implemented on a national basis roughly over the next three years. Specifically, the firms will be required to use trained employees to review and resolve consumer disputes. Another major change will be the removal of medical debts from credit reports once the debts are paid instead of the typical seven years. Finally, the credit bureaus will be required to implement a 180-day waiting period before adding any medical debt information to consumers' credit reports. 

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