What the truth is about medical bills sent to collections
Do not assume that paying your bills on time will protect you from credit damage from a collection account. Your credit might be hurt by medical bills that you are unaware of-and the odds are against you. In fact, the Consumer Financial Protection Bureau reports that 31.6% of Americans have accounts that are in collections on their credit reports. About one-third of the population is affected. The majority of collected accounts are medical bills. There is a good chance that you, too, have a medical bill that is being collected. There are a lot of times when medical bills go to collections as a result of not realizing you had any debt on them. In this post, we'll break down four common misconceptions about medical bills that can cost you dearly and the real truth you need to know to manage your credit and medical expenses more effectively. Removing medical collections from credit report HIPAA Your insurance won’t cover everything Consumers must understand what they're responsibl...