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Medical debt is not reported to credit bureaus as long as it remains with your healthcare provider. Bar lenders from using medical devices like wheelchairs and prosthetic limbs as collateral for loans or from repossessing them if someone can’t repay the loan. How long does medical debt stay on your credit?
Whats more, lenders will be barred from using information about medical devices, such as prosthetic limbs, to make them serve as collateral for a loan and subject to repossession, according to the CFPBs announcement. Nonprofits in the healthcare space are pleased. How are advocates responding?
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