Tag: medical debt

Does Medical Debt Go Away After Seven Years?

October 19th, 2023

  • By

    • Older man in hospital with granddaughter on his back

    If you’ve ever been in a situation where you didn’t have health insurance or were under-insured, you may be faced with some medical debt. Two-thirds of Americans state that they are “very worried” (38 percent) or “somewhat worried” (29 percent) about being able to afford unexpected medical bills for themselves or their family. A surprise medical bill can be an extremely stressful occurrence, especially if you’re already facing debt.

    You may have heard that medical debt disappears after seven years. Like all myths, the “seven-year-rule” does have a grain of truth to it—but medical bill debt forgiveness is not as easy as it sounds. In most situations it’s better to pay off the debt before it hits the seven-year mark in order to avoid harassment and the potential for a lawsuit.

    New Era Debt Relief explains what can happen when medical debt is ignored: