The Consumer Financial Protection Bureau reported last year that there's around $88 billion of medical debt in collections, and about 43 million Americans have medical debt on their credit report.
Equifax, Experian, and TransUnion – three major credit reporting companies in the U.S. – have eased how much medical debt impacts someone's credit score. The companies no longer include medical debt that is paid off or less than a year old on a report.
But a medical bill can be plenty stressful before it goes to a debt collector. People often turn to crowdfunding sources like GoFundMe to help pay those costs when they get them.
We continue our series with Bloomberg News with a discussion about medical debt in the U.S. and how we deal with it.
Want to support 1A? Give to your local public radio station and subscribe to this podcast. Have questions? Find out how to connect with us by visiting our website.
Equifax, Experian, and TransUnion – three major credit reporting companies in the U.S. – have eased how much medical debt impacts someone's credit score. The companies no longer include medical debt that is paid off or less than a year old on a report.
But a medical bill can be plenty stressful before it goes to a debt collector. People often turn to crowdfunding sources like GoFundMe to help pay those costs when they get them.
We continue our series with Bloomberg News with a discussion about medical debt in the U.S. and how we deal with it.
Want to support 1A? Give to your local public radio station and subscribe to this podcast. Have questions? Find out how to connect with us by visiting our website.
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