Could you expand on why this makes such a big difference? I’m not very knowledgeable in this area. Is medical debt treated differently than other debts by lenders?
My first thought was that medical debt, like any other debt, has financial obligations that lenders would have to know about to determine the amount of credit a person is eligible for. Wouldn’t medical debt payments impact the amount of additional debt you can afford?
Ah, that makes a lot of sense. Thanks for explaining. I’ve been fortunate enough to avoid major medical expenses or debt, so I hadn’t thought of the situation you’ve described.