Here's Why Medical Debt Is Crippling Millions of Americans, and What You Can Do About It

October 9, 2014 5:53 PM

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Here's Why Medical Debt Is Crippling Millions of Americans, and What You Can Do About It

Credit card and financial debt may get all the hype, but medical debt collected by third-party collections agencies is roughly three times as large as both combined, according to a new study from nationwide personal finance site NerdWallet.

Medical debt is so out of control that debt collectors will contact one in five -- or 51 million -- American adults in 2014 alone. In addition, more than one-third of dollars paid to third-party collectors is for medical debt.

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