Why 4 in 10 Americans Could Soon Get a Credit Boost
Medical debt has long been a major problem throughout the United States, and it continues to be a cause of financial stress for many American families. Around 40% of Americans owe debt collectors money because of unpaid medical bills, and these outstanding debts are damaging the credit scores of millions of Americans.
Medical debt is a big problem in the U.S., but there is a small measure of relief coming: Changes are being made to the way medical debt is reported on credit reports. When these changes go into effect on Sept. 15, millions of Americans who allegedly owe debt collectors for past healthcare services could see a boost to their credit scores.
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Source: Fool.com
