This post originally appeared atMyBankTracker.
That means you could’t be sued or be subject to wage garnishment or bank account seizure.
That doesn’t mean, however, that the obligation just disappears.
Old Debts and Your Credit Score
The biggest chunk of yourcredit scoreis based on your payment history.
The more late and missed payments you have, the more your score suffers.
If that happens, your credit score will take an even bigger hit.
Many employers take your credit into account when making their final hiring decisions.
Paying it off can minimize the impact it has on your desirability as a candidate.
Finally, you may want to consider paying off old debt if it all stems directly from medical bills.
