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Handling Collections and Unpaid Medical Debt

Medical debt can be financially crippling for families. An estimated 42 million Americans have unpaid medical bills reflected on their credit reports. And those bills matter: a single medical bill in collections can drastically decrease FICO scores. One estimate shows an unpaid bill of $100 or more can knock a credit score of 780 down by over 100 points!

Our team of Personal Advisors sees the same practice over and over again: healthcare consumers are put into collections quickly and without knowing. The result? The stress of dealing with a collection agency, lower credit scores, and less financial freedom for everything else consumers buy – higher mortgage, car payments, etc.

But there’s help and hope with HooPayz! We’ve put together a step-by-step guide to help you (1) stay out of collections and/or (2) handle your medical debt if you’re already seeing the negative impact on your credit report.

 

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