Can Medical Debt Hurt Your Credit Record? What You Need To Know [Forbes]
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Source: Forbes
Although medical debt is still an issue hurting millions of Americans, there's much you can do to protect yourself. Some 20% of Americans have some form of medical debt, so this is a widespread issue. Sometimes the medical bills are relatively small, although many providers engage aggressive debt collection firms to call, text and harass people. I know because I was harangued by a hospital for a bill that hadn't even been processed by my insurance company. The bill collecting firm even repeatedly called my daughter, who wasn't even responsible for the bill. Bill collectors were threatening consumers by saying overdue debts will hurt their credit ratings. The Consumer Financial Protection Bureau (CFPB) has and launched a new set of rules to stem the abuses it found in a report. PROMOTED “The credit reporting system should not be used to coerce people into paying medical bills that they do not owe,” said . “Our report analyzes recent changes announced by the Big Three credit rep
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