Saturday, July 13, 2024

Do you think medical debt should impact credit scores?

Respond now
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Democratic Values

Do you think that medical debt should impact credit scores?

YES »
NO »

Estimates show that over 100 million Americans currently have medical debt — amounting to over $88 billion. Medical debt doesn't just cause major stress and dissuade people from seeking the care they need, but it also destroys credit scores. Low credit scores make it even more difficult for those already struggling by creating more barriers to housing and transportation. Families shouldn't get trapped in a brutal cycle of debt and poverty just because they need medical care.

What's more, medical debt disproportionately impacts communities of color, parents with young children, people with disabilities, and women. No one should have to choose between their health and financial survival. Medical debt is rarely transparent, and the complexity of medical billing often make payment confusing for patients. Patients may not even know their medical bill has collections until they're denied a mortgage, car loan, or credit card based on their consumer report.

It's inexcusable. Thankfully, the Consumer Financial Protection Bureau (CFPB) has drafted a new regulation that would stop Experian, TransUnion, Equifax, or any other reporting agency from using medical debt in credit scores.

The CFPB needs to be able to show broad support during the official public comment period in order to be able to implement this new regulation.

Big Pharma, Wall Street and health insurance giants are doing everything they can to stop this from happening. That's why we have to step up now.

Join us and show your support for the CFPB's new regulation: Medical debt should not impact credit scores!

SIGN ON »

We believe that healthcare is a right, not a privilege. It's time that our government ensures that no one is burdened by unnecessary debt due to their medical needs.

Thanks for signing,

Democratic Values

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This message was sent to jasonsc.bolts14@blogger.com.

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