; or (B) apply for financial assistance. . (b) Furnishing of medical debt information Section 623 of the Fair Credit Reporting Act ( 15 U.S.C. 1681s–2 ), as amended by subsection (a), is further amended by adding at the end the following: (g) Furnishing of medical debt information (1) Prohibition on reporting debt related to medically necessary procedures No person shall furnish any information to a consumer reporting agency regarding a debt arising from a medically necessary procedure. (2) Treatment of other medical debt information With respect to a medical debt not described under paragraph (1), no person shall furnish any information to a consumer reporting agency regarding such debt before the end of the 365-day period beginning on the later of— (A) the date on which the person sends the statement described under subsection (f) to the consumer; (B) with respect to the medical debt of a borrower demonstrating hardship, a date determined by the Director of the Bureau; or (C) the date described in section 605(a)(10). (3) Treatment of settled or paid medical debt With respect to a medical debt not described under paragraph (1), no person shall furnish any information to a consumer reporting agency regarding such debt if the debt is settled or paid by the consumer or an insurance company before the end of the 365-day period described under paragraph (2). (4) Borrower demonstrating hardship defined In this subsection, and with respect to a medical debt, the term borrower demonstrating hardship means a borrower or a class of borrowers who, as determined by the Director of the Bureau, is facing or has experienced unusual extenuating life circumstances or events that result in severe financial or personal barriers such that the borrower or class of borrowers does not have the capacity to repay the medical debt. . 5. Effective date This Act and the amendments made by this Act shall take effect on the date that is 180 days after the date of enactment of this Act.