📢 Veteran had prosthetic legs repossessed
🗽The power of the people is stronger than the people in power!
Medical debt is a pervasive issue that affects millions of Americans, often through no fault of their own. Including medical debt in credit scores can devastate individuals' financial stability. When medical emergencies arise, people should be able to focus on their health and recovery rather than worrying about the long-term impact on their creditworthiness. According to a report by CNBC1, medical debt can significantly lower credit scores, leading to higher interest rates on loans, difficulty securing housing, and even problems finding employment.
Credit reports are a snapshot of a person's ability to manage their finances responsibly, and medical debt dinging a person's ability to get credit is cruel and unusual punishment. Speaking of cruel and unusual punishment, did you know there was a veteran who had their prosthetic legs repossessed?2 And for clarification sake, this was not the fault of the Veteran’s Administration who work tirelessly on behalf of our Veterans. The good news his legs were replaced, but we need to reevaluate using medical debt as a factor for creditworthiness.
By removing medical debt from credit reports, we can ensure that credit scores more accurately represent financial behavior and prevent unnecessary financial distress. This change would allow individuals to recover more quickly from medical crises and contribute to a healthier, more equitable society. It's time to prioritize people's well-being over punitive financial practices and take a significant step toward economic justice by banning medical debt from credit scores.
Can you please take 1 (one) minute and Click here to send a comment to the Consumer Financial Protection Bureau to stop Experian, TransUnion, Equifax, or any other reporting agency from using medical debt in credit scores now:
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https://www.cnbc.com/select/medical-debt-credit-repor
https://nypost.com/2020/01/18/vet-whose-prosthetic-legs-were-repossessed-is-getting-new-pair/