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I take exception to most of this statement. My story: At 25 years old, I took every penny I had in savings (about $300k) and started a company. I "created" 7 well-paying jobs. I put every single penny I had into my company. I had "major medical" insurance, which I paid about $600 a month for. Two years later, we were doing about 2 million a year. Still, I poured every penny I had into the company "creating" additional good-paying jobs. Then I had a stroke. Yes, at 27. Because the doctors could not find a "reason" for my stroke, the insurance company paid a grand total of $2700, mostly for the ambulance and the care I received in said ambulance. I was left with a bill of $67,000. Yes 3 zeros. Because of how long I was in the hospital and recovering, and because my business was based on relationships with my clients, the business faltered, and I eventually shut it down. I am now paying off every cent of what I owed on the business, as well as that $67k in medical bills. Moral of the story: don't think you're invincible because you're young, or because you don't have a pre-existing condition. Also, I can absolutely assure you that medical debt DOES affect your credit. Here's the crazy part. I'd do it all again in a heartbeat, and I will. |