Medical bills mar credit rating, even after payment - Leader-Telegram: Front Page

Medical bills mar credit rating, even after payment

Financial ill-health

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Posted: Sunday, March 4, 2012 11:00 pm

CHICAGO - Mike and Laura Park thought their credit record was spotless. The Texas couple wanted to take advantage of low interest rates, so they put their house on the market and talked to a lender about a mortgage on a bigger home in the Dallas-Fort Worth suburbs.

Their credit report contained a shocker: A $200 medical bill had been sent to a collection agency. Although since paid, it still lowered their credit scores by about 100 points, and it means they'll have to pay a discount point to get the best interest rate. Cost to them: $2,500.

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