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Here’s how medical debt hurts your credit report


by Corey Stone
For rhe Consumer Protection Bureau, Dec. 11, 2014

Since September 2013, debt collection has been the top complaint at the CFPB. Among all debt types, medical debt tops the list. When a debt is past due, a collector may report the account to a credit agency. This would appear as an account in collection, often resulting in a credit score drop.

A staggering 52 percent of all collection accounts on credit reports are medical. An estimated 43 million consumers with a credit report at a nationwide consumer reporting agency have one or more medical accounts in collection. Here’s how you can keep medical debt in check.

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