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Do Medical Bills Affect Credit Scores?

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Staying healthy is essential to living well, yet medical bills can wreak havoc on your finances. Research from the Peterson Center on Healthcare and Kaiser Family Foundation reports that 3 million people hold over $10,000 in overdue medical debt. If you're on the hunt forcredit repair in Austin, understanding how medical bills affect your credit score is essential. Although unpaid medical debt that is in collections may have an adverse effect on your credit score, it is noteworthy that as of April 2023, medical collections that are under $500 will no longer be included on your credit report by credit reporting agencies. This alteration in credit reporting eliminates nearly 70% of collection accounts from consumer reports.   Starting July 1, 2022, American consumers will be relieved of the financial burden caused by medical collection debt on their credit reports. Furthermore, the waiting period before unpaid medical collection accounts are reported to creditors has been lengthe