Millions of Americans have crushing medical debt.
But heres some good news: they wont have to worry about unpaid medical billsdamaging their FICO scoresanymore.
Heres more on how this new medical debt credit report rule works and what it means for you.
What Does the New Medical Debt Credit Report Rule Do?
And for that reason, medical debts shouldnt be allowed to tarnish credit reports.
Drowning in Expenses?
Maybe youre scrambling after your car broke down.
Or you got a medical bill you werent expecting.
Or inflation has finally pushed your budget over the edge.
You dont need to go it alone.
When money is tight,these resourcescan help you manage unexpected expenses without stress.
How Did Unpaid Medical Debt Affect Credit Before?
This damages your credit score and makes it much harder to get approved for affordable loans or credit cards.
Even worse, medical debt in credit reports is often inaccurate or inflated.
Does This Mean You Dont Have to Pay Medical Bills Anymore?
Though unpaid medical bills wont necessarily tank your credit score anymore, you shouldnt ignore them.
Heres why:
We Dare You to Take Control of Your Debt
Up for a debt challenge?
In 10 days,these 10 practical stepscould help you get back on the right financial track.
Whats Next?
The rule is a step in the right direction.
However, its not a cure-all for the medical debt crisis and expensive health care in America.
It disproportionately affects people with lower incomes and those without insurance, creating acycle of financial hardship.
The root cause, a broken health care system, is still there.
Need a Hand With Bills?
Listen, we know its tough out there.
But theres no shame in asking for help.
These companiesmake it easy to help yourself and your bank account.
