Medical Debt Affects A Large Portion of Americans

medical debt

In a new report of compiled data provided by the Consumer Financial Protection Bureau, close to 20 percent of U.S. shoppers are in debt. This is due to unpaid medical bills. The bills that insurance companies and hospitals are providing seem to confuse many Americans. That is, those for the cost of their treatments. This confusion is causing lower credit scores. And, it is making it much harder for Americans to get loans for homes. Or, for automobiles. $1,766 is the average amount owed for people who only have pending medical bills. Those who have unpaid medical bills followed by additional debt such as credit cards and such, average more in the $5,638. The majority of all debt in credit reports comes from unpaid medical bills.

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