Even though medical debt is no longer reported on credit records, advisors recommend that individuals should still make efforts to settle their dues according to their financial capability. Here are some helpful suggestions.

CHICAGO (WLS) — Despite creditors being banned from considering medical debt for those looking to get a loan, experts say those who owe money should still be paying what they can.

It’s great news for those struggling: Medical debt cannot be held against you if you are trying to open a credit card, obtain a home loan or get a car loan.

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The Consumer Financial Protection Bureau rule finalized recently will erase an estimated $49 billion in unpaid medical bills from the credit reports of about 15 million Americans.

“This was a really important thing to pass, really, because credit scores are pulled for anything, from a mortgage, to a car loan, renting an apartment, and a lot of times even for employment, and so proponents of the change say that medical debt shouldn’t prevent someone from buying a house or securing an auto loan because many medical events are unexpected,” said Ashlee Walton, a certified financial planner with Goldstone Financial Group.

Walton is with the group based in west suburban Oakbrook Terrace. She says, while the law means the medical debt won’t affect your credit score, you should still attempt to pay it.

“You still want to pay it; you still owe it. You still want your same doctors; you want your hospitals. It’s still a good idea to pay it. This is more so impacting the people who aren’t able to pay it,” Walton said.

A recent study by LendingTree says 55 percent of Americans have been burdened by medical debt, and half of them have been sent to collections.

Experts say you should negotiate with the billing agency, create a payment plan and seek financial assistance through the hospital or medical facility. Look for mistakes on bills, and go back to your insurance company and ask if they should have covered more.

Walton also says there is pushback on the new medical debt rule from the medical industry and others.

“Maybe people are just going to say, ‘I’m not going to pay that medical bill because it’s not going to go on my credit score anyway.’ And then they’re also just worried that these collection agencies might be hit. It might be a hindrance to their day-to-day jobs. If now, all of a sudden, a huge part of the piece of their business is now no longer there anymore,” Walton said.

Two industry groups filed lawsuits last week seeking to block the new medical debt rule. Also, a leading House Republican lawmaker says he will take action.

There is a chance this could be reversed, but the good news for consumers is that three credit bureaus already decided to take medical debt off their reporting years ago. This new law just takes it a step further to ban it all together.