Medical debt is bringing down the credit scores of 1 in 5 Americans - and most of them probably don't even realize it. According to a report published by the Consumer Financial Protection Bureau (CFPB), 43 million US citizens are burdened by past-due medical debt because of a system that is difficult and tedious to navigate.
Many of the past-due medical bills arise from complications or delays from the hospital or doctors and insurance companies. Although most of the bills should and eventually will be paid for by insurance, many people are opting to foot the bills out of their own pockets in order to save their credit scores.
According to the report, the practice of "parking" by many debt collectors is causing many Americans to suffer and be pursued for medical debt that they do not even owe.
