MEDICAL DEBT WILL CHANGE YOUR LIFE
by – Sheri de Grom
Medical debt has no distinction apart from other accounts once they are outsourced to a collection agency.
It’s a foreign language to many.
The face of medical debt has changed drastically within the past five years. Before the U.S. economy fell apart, most doctors, hospitals and other health institutions carried their own debt.
Combine our weakened economy, high unemployment with the reality of Obamacare and fewer individuals have health insurance than before the recession and Obamacare.
Health care providers can no longer afford to carry their patients’ debt. The providers need ready revenue streams to remain operational. To obtain that money they’re forced to sell their debt to a third-party.
Medical debt is different from any other debt the American consumer accumulates. Unlike credit cards, auto loans or home mortgages, Americans don’t fill out credit applications for medical services. (Most hospitals…
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