It’s not always easy to financially plan for a major emergency, which is why so many people incur medical debt. And taking too long to pay that debt can have a big impact on your credit.
Medical debt is a little trickier than regular debt, and for that reason, it has become an issue for consumers. Doctors, hospitals, and other medical facilities don’t report debt directly to the credit bureaus. Instead, they send unpaid debt to collection agencies, and these collection agencies report the debt themselves. Obviously, this can be an unpleasant surprise. But the good news is that this problematic process might be changing. Read More