From the Washington Post:
The CFPB questioned whether this debt should even be reported to the credit bureaus and thus factored into credit scores, which are used to determine people’s creditworthiness for loans, apartments or insurance.
As of the second quarter of 2021, 58 percent of bills that were in collections and on people’s credit records were medical bills, according to the CFPB.
Sure enough, the dizzying flood of billing statements caused my now-26-year-old daughter a lot of stress. She had received services from out-of-network medical professionals at the in-network hospital. Eventually, some of the charges were removed, yet she’s still in financial limbo, waiting to see whether her insurance will cover thousands of
The CFPB questioned whether this debt should even be reported to the credit bureaus and thus factored into credit scores, which are used to determine people’s creditworthiness for loans, apartments or insurance.
Mod cut - @Adkins post was edited to ensure it meets myFICO Forums TOS guidelines including this policy.
