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In a separate analysis, which included credit card bills resulting from medical procedures, KFF estimates that around 40% of American adults have some form of medical debt, or 100 million people.
Nearly 6 in 10 (58%) of those who’ve had medical debt and make $100,000 or more a year say they’ve had debt go into collections, higher than any other income bracket. Conversely, 46% of those ...
You're juggling multiple medical debts: If you're managing several medical bills with different due dates, interest rates, and terms, consolidation can simplify your repayment process. This ...
As these medical fees continue to rise and out-of-pocket expenses continue to grow, Americans are at much higher risk of falling into medical debt whether insured or not. [22] In May 2023, President Biden publicly discouraged all Americans from using medical credit cards to pay for their medical bills due to the credit cards' high interest ...
Recent studies have shown that medical debt is the leading cause of bankruptcy in the United States. Studies also note that people struggling with medical debt are three times more likely to ...
The U.S. Census Bureau found that households earning less than $25,000 per year have the highest rates of medical debt. Wiping medical debt off credit reports does not mean lenders will ignore ...
People talk about the sacrifices they made when healthcare forced them into debt.
According to a 2022 survey from the Kaiser Family Foundation, 47% of US adults with medical debt have been contacted by a collection agency within the past five years due to unpaid medical or ...