U.S. Sen. Bob Menendez is cosponsoring legislation that would help protect individuals and families from financial devastation due to medical debt. According to the Consumer Financial Protection Bureau, 43 million Americans credit reports are negatively impacted by debt from medical expenses. Nearly 15 million consumers have medical debt with no other collection items on their credit reports. Having a low credit report makes it harder to buy a home or car and to obtain a credit card or affordable financing.
All the financial planning in the world cant prepare a family for a sudden medical emergency or an unforeseen illness, and the bills that come with them, Menendez said. Thats why I have joined several Senate colleagues in introducing…
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