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Are consumers’ credit scores unfairly dinged by medical debt? The Consumer Financial Protection Bureau thinks so. The agency released a new report that says unpaid medical debt sent to collections – and appearing on credit reports – can overly penalize consumers. Credit scores, generated by information in credit reports, are three-digit numbers that try to predict a consumer’s likelihood of paying bills. The higher the number, the better. Businesses use scores to decide whether to extend credit and at what interest …
There are several ways to attack a looming medical debt for reduced cost.