Reported about 1 year ago
The Biden administration has unveiled a new initiative to protect consumers by removing medical debt from credit reports, aiming to alleviate financial burdens caused by healthcare costs. Despite increased insurance coverage, many Americans still face substantial medical debts, impacting their credit scores. States like New Jersey have taken steps to address this issue by using funds to cancel medical debts for qualifying individuals, with the goal of helping people maintain financial stability by keeping such debts off credit reports.
Source: YAHOO