The middle class as well as the poor are being pushed farther down by the unfair practice of medical bills and student loans adversely impacting their credit scores. If possible, I am hoping that President Obama will use executive authority to make medical bills and Federal Student Loans exempt from being reported on credit reports.
Points to consider:
1. Negative accounts from a student loan can keep a college graduate from getting a job that requires a good credit report to be hired.
2. Negative accounts from medical bills results in families having to pay higher insurance premiums and higher interest rates to borrow money. One negative medical bill can be the difference between paying 1.9% and 18% interest on a vehicle. The credit bureaus keep the rich getting richer!