Medical debt is one of the reasons why a lot of American consumers are having trouble with their credit scores.
Miami, FL (PRWEB) July 10, 2015
National Debt Relief recently shared in an article published June 26, 2015, some facts to help consumers know more about their medical debt in terms of their credit score. The article titled “What You Need To Know About Medical Debt And Your Credit Score” points out some of the important things to know about the two.
The article starts off by pointing out that medical debt is one of the reasons why a lot of American consumers are having trouble with their credit scores. But what everyone needs to remember is that many unpaid medical bills may be due to reimbursement delays from health insurance companies and sometimes even medical billing errors and disputes that have yet to be resolved.
It is also possible that there will be confusion with the billing process because some consumers incur a lot of medical bills that can come from the hospital, treatment sessions, and even professional fees. These multiple providers can add up to a lot of confusion. On top of that, he cost of services can sometimes vary from one client to the next because of factors like insurance.
The article also shares that there seems to be no standard practice in overdue bill reporting. There are, many times, no clear indication of when unpaid medical bills will end up on a credit report. Other debt collection institutions will wait until after a pre-determined period has passed before they report the unpaid debt to a major credit bureau. For medical bills, it can vary from 30 to 180 days. It depends on the health care provider decides they will send the report.
To read the full article, click on this link: https://www.nationaldebtrelief.com/what-you-need-to-know-about-medical-debt-and-your-credit-score/