FICO announces new credit scoring method for medical bills

Updated: 08/08/2014 2:21 PM
Created: 08/08/2014 2:08 PM WHEC.com

If you owe medical bills, your credit score may actually go up thanks to a new credit scoring method by FICO.

The new method from the nation's top credit score provider will ensure that medical debt will have less of an impact on a consumer's credit score.

After the change, the company expects the median FICO score for those with medical debt to jump by approximately 25 points. This means many consumers with medical bills they can't pay won't look as risky to lenders and will likely be able to qualify for better rates and deals.

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