In a plot twist that even Hollywood couldn’t script, the Consumer Financial Protection Bureau (CFPB) has decided that unpaid medical bills are no longer invited to the credit report party. And honestly, it’s about time—because who actually thinks a trip to the ER should ruin your chances of getting that Instagram-worthy mortgage?

Starting soon, lenders will have to forget about those pesky medical debts when assessing whether you can afford to buy groceries on credit, let alone a house. The rule, finalized just recently, is expected to boost the credit scores of millions—think of it as giving everyone a 20-point confidence boost just in time for the mortgage selfie.

According to the CFPB, outstanding medical bills are a terrible predictor of loan repayment. So, if you’ve been rejected for a mortgage thanks to those unfortunate emergency room visits, know that change is coming. The national credit reporting agencies—Experian, Equifax, and TransUnion—are already working on removing medical collections under $500. But the CFPB is going a step further and banning all outstanding medical bills from credit reports. Because let’s face it, stressing over medical debt while trying to navigate adulthood is the real scam here.

So, who’s going to bathe in this newfound financial freedom? A whopping 15 million Americans will enjoy the removal of $49 million in medical debt from their credit reports. Spoiler alert: marginalized communities often get hit hardest when it comes to medical debt, with approximately 28% of Black folks and 22% of Latinos facing this burden. The CFPB is hoping that this rule will not only increase privacy protections but also keep those debt collectors from rattling your nerves and pocketbook.

What does this all mean for you? It means more access to loans and potentially 22,000 shiny new mortgages every year. Sounds like a reason to break out the confetti, right? And if lenders were thinking about repossessing your fancy prosthetic limb as collateral, those plans just got tossed into the dumpster—they can’t use medical devices against you anymore.

This ruling has advocates doing a happy dance. Nonprofit leaders are thrilled, calling it good news for everyday Americans. As Carrie Joy Grimes from WorkMoney put it, medical debt doesn’t reflect bad money management; it’s just life throwing curveballs at your financial plans. Now, we can focus on recovery, not debt stress.

So, if you find yourself drowning in unexpected medical bills, it’s time to take control. From exploring charity care to appealing those outrageous charges, it’s not all doom and gloom. Stay savvy, know your rights, and turn the tables on those hefty bills. After all, you deserve to focus on thriving, not merely surviving.