Medical Bills and the High Cost of Not Knowing Your Credit Scores

July 02, 2011

With the cost of medical care in the United States on the rise, people everywhere know that medical bills can have a serious impact on their financial well-being. Although these expenses are usually well-documented, a recent post on the FreeScore.com blog reveals that what you don’t see can also wreak havoc on your finances.

In “Unpaid Medical Bills? Don’t Let It Ruin Your Credit,” the experts at FreeScore examine the increasingly popular practice of using debt collection agencies to recoup unpaid medical bills. However, sometimes the debt turned over to a collector goes unpaid due to misunderstandings between the patient and insurance company.

The Atlanta Journal-Constitution recently reported the story of one such occurrence that left a man in a credit predicament. The man had not paid off a $500 bill for an ambulance ride because he thought it was covered by insurance. Six years later, he applied for refinancing and discovered that one of his credit scores had dropped 92 points. As it turns out, the $500 bill from years past had been sold to a collection agency, which then reported the bad debt to the credit agencies.

Don’t let a scenario like this happen to you. By keeping track of your three credit scores, FreeScore.com offers you financial peace of mind. Not only does the company provide information from the three major credit bureaus, but it also monitors your credit to protect you against identity theft and discrepancies. Finally, FreeScore will send you email alerts to warn you about changes to your credit profile. FreeScore’s Power of 3 – three Credit Scores, Triple Bureau Credit Monitoring, and Automatic Credit Alerts – enables you to see if your credit is in good standing and prevents you from being caught off guard by unpleasant surprises, like unpaid medical bills, that could damage your credit.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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