Ignoring medical debt can lead to serious financial and personal consequences. While it may feel overwhelming to address, avoiding your bills will only make the problem worse. It is important to understand the potential risks of ignoring medical debt and how it can impact your life.
Damage to your credit score
Medical debt that goes unpaid can quickly affect your credit. If healthcare providers turn your account over to a collection agency, the agency can report the debt to credit bureaus. This can lower your credit score significantly, making it harder to secure loans, rent an apartment, or even get certain jobs. The hit to your credit score can stay on your report for up to seven years, even if the debt is eventually resolved.
Legal consequences
When medical debt is left unpaid, creditors may take legal action to recover the money. This can include filing lawsuits or garnishing your wages if a court rules in their favor. A judgment against you can add court fees and legal costs to your debt, making it even harder to pay off.
Additional financial stress
Interest and late fees often accumulate on unpaid medical bills, making the original debt grow over time. The longer you wait to address it, the larger the financial burden becomes. This can limit your ability to cover everyday expenses or save for the future, creating a cycle of financial strain.
Restricted access to future care
Some healthcare providers may refuse to offer non-emergency services if you have unpaid medical debt. While emergency care cannot be denied, you could face difficulties scheduling follow-up appointments or accessing elective treatments. This can negatively impact your overall health and well-being.
Addressing medical debt as soon as possible can help you avoid these risks. By taking steps to understand your options and communicate with your providers, you can regain control over your financial health.