Written by Jasir Jawaid
Americans owed $195 billion in medical debt as of 2019, according to an analysis of government data released by Kaiser in March 2022. Put another way, nearly one in 10 adults owe medical debt, and almost 23 million Americans owe a medical debt of at least $250. Research by the Consumer Financial Protection Bureau shows $88 billion in medical debt on consumer credit reports as of June 2021. Medical debt is also the most common collection tradeline on consumer credit records.
We all get sick and have to visit the doctor's office occasionally. This can mean high medical costs and sometimes overwhelming debt. If your debt has gotten out of control or you are struggling with your medical bill payments, you may want to consider using the advice in this guide. This article will explain some of the best methods for paying off medical debt.
This article was published on JoyWallet and can be read here in full.