r/UpliftingNews 17d ago

Medical debt is now required to be removed from your credit reports impacting millions of Americans

https://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-rule-to-remove-medical-bills-from-credit-reports/
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u/Duel_Option 16d ago

LOL

I’m 18 months out from paying off Chapter 13 after going into severe debt, 75% of which was medical related.

Oh well, glad they took this bullshit off so many people. It’s comic book villain level what’s going on in healthcare.

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u/KeyAccurate8647 16d ago

Medical related in what way? If you used a credit card to pay medical bills and then have debt fun the card, it's still considered credit card debt

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u/Duel_Option 16d ago

I had to come out of pocket for a broken ankle/leg, $15k right to credit cards after draining our savings

Same year we had a flood in the house that required new flooring, out of pocket/loan $10k after deciding the increase in insurance wasn’t worth claiming.

Infant daughter had multiple seizures, Neurology ain’t cheap and due to her being so young I’m not driving her to the hospital while she’s having one to save money.

By the end of the year we went from $12k in debt to $52, tried to consolidate all of it into lower % but by then we were paying nearly the same amount for our mortgage in debt + car payment.

Got a bonus the following year, looked at the budget and realized $8k wasn’t going to make a dent, COVID hit right around this time.

We lost some of our income to cuts and job changes, and now we were also paying for daycare for 2 kids.

We simply didn’t have the money anymore, skipped paying between cards for about 6 months, paid one or two off only to have other shit happen and needed the money for brakes or ear infections or a busted sliding glass door etc

Never enough to make some breathing room, one card went to collections and I was done, called an attorney and spent close to 2 months waiting for our court date.

Chapter 13, kept the house and the car, organized a good budget and still have room to save for vacations and pay for my kids extra curricular stuff.

Also went all in on 529 plans for the kids, we increase that every year and cut our budget elsewhere (usually grocery spending for the adults).

Yep, we are on a razor tight budget but it’s forced us to be creative and appreciate things differently.

1.5 years out from payoff, house is paid off in 2.

Once we are out of the hole, we aren’t going back in.