Prevent Medical Bills From Spoiling Credit | Bankrate.com

Prevent Medical Bills From Spoiling Credit | Bankrate.com:

http://www.bankrate.com/finance/credit/prevent-medical-bills-from-spoiling-credit.aspx?ec_id=cmct_01_comm_PF_mainlink

"Prevent medical bills from spoiling credit
By Liz Weston • Bankrate.com

Medical bills that wind up in collections hurt your credit scores more than they should.

That was the conclusion the Consumer Financial Protection Bureau reached after studying 5 million credit reports. The federal regulator tracked how well credit scores predicted people's future creditworthiness after medical bills showed up on their reports.

 The answer: Not that well. The CFPB says people with medical collections generally paid their other obligations on par with those whose credit scores were 10 points higher. And those who paid off their medical collections should have received scores 16 to 22 points higher on average."

http://www.bankrate.com/finance/credit/prevent-medical-bills-from-spoiling-credit.aspx?ec_id=cmct_01_comm_PF_mainlink

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