Quick signature: Medical Debt Doesn’t Belong on Your Credit Report!

No one should delay or avoid needed medical treatment because of cost, but it is incredibly common in the United States. Parents are significantly more likely than non-parents to have health care debt from their own or someone else’s medical or dental bills. Further, new mothers are twice as likely to have medical debt as young women who did not recently give birth.

The Consumer Financial Protection Bureau is currently taking public comments on this proposed rule!

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Add your name! Sign our letter to the Consumer Financial Protection Bureau in support of their proposed rule to address medical debt.

Dear Director Chopra:

Medical debt negatively impacts the wellbeing and financial freedom of families across the country. Eight percent of adults and fifteen percent of households have medical debt. A recent Kaiser Family Foundation survey found that parents are significantly more likely than non-parents to report having health care debt from their own or someone else’s medical or dental bills, with 58 percent of parents reporting debt as compared to 35 percent of non-parents. Further, new mothers are twice as likely to have medical debt as young women who did not recently give birth. Among women ages 18-35, 14.3 percent of those who gave birth in the last year and a half have medical debt of over $250, according to a recent Kaiser Family Foundation survey. Only 7.6% of women in the same age group who did not have a child recently reported having medical debt.

Grappling with the reality of medical debt makes it harder for families to make ends meet and plan for the future, forcing moms to make choices between repaying debt to improve their credit or prioritizing other financial goals like buying a house or paying for education.

The proposed rule would eliminate the special medical debt exception, which moves us closer to protecting consumers by ensuring that medical debt doesn’t damage credit scores. MomsRising, like the majority of Americans who support medical debt relief, applauds CFPB’s effort to address the harms brought by medical debt.

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