Credit Score Of 647 I Didn't Pay A Bill
I have had a credit card for ten years
A couple years ago I had to go to an emergency room, I had no insurance.
They sent the bill to the wrong address so I did not recieve it . The hospital forgave the debt about a year after it was incurred. But a collection agency is trying to collect on the debt anyway .
This is a delinquent account . It has affected my score which is 647.
Since the hospital forgave the debt why should I have to pay the bill collectors?
I need to get my credit score up
Should I pay the debt ? Is my credit score
low becuase of the debt (It is very small)or because I have only one c/c ?
Thanks
Do not pay the debt to the collection agency. Send them a debt validation letter or hire a professional credit repair agency to do the work for you. After they cannot validate the debt, they will have to remove it from your reports.
Your score is a complex algorithm of many factors. Ideally, you should have 2 credit cards with 7% to 25% of utilization. The higher the limit the better on your cards. Just keep your balances below that 25% mark. If that is the only derogatory item on your report, your score should shoot up significantly after you get it removed. The last derogatory account to be removed always gives you the greatest boost.
Also keep in mind, (I know I already said this, but it is important), if you pay the collection agency, IT WILL NOT HELP YOUR SCORE. It will go from a collection account to a paid collection account and that is a derogatory account either way. Let me know if you need any further help with your situation.[ Edited by Mario11779 on Date 10/05/2004 ]
Thanks I have some questions
Do not pay the debt to the collection agency. Send them a debt validation letter or hire a professional credit repair agency to do the work for you.
Just keep your balances below that 25% mark. If that is the only derogatory item on your report, your score should shoot up
What is a debt validation letter?
How much would a credit repair agency charge on a 263.00 debt ?
What do you mean "keep my balances below the 25% mark "I like to pay in full every month
How do I get another credit card if I have a bad score?
Niceguy [ Edited by Niceguy1 on Date 09/26/2004 ]
Yes you have clarified
What is your number or e -mail ?I 've seen people give out numbers on the forum
But you did not answer the question
How I can get an additonal cc?
Niceguy
Thanks
I'll call
Your welcome. I look forward to hearing from you.
Hello,
I'd invite you to pay the debt.
Thanks,
OnTheWater :-D
Pay the debt I hope it's that easy
I would need to find out if
that would raise my score
Even if it didn't raise it it's still the right thing to do. but according to Mario that aint going to fix things.
Mario is right. Paying that debt won't move your score up dramatically. Also, when you are applying for something, even a house, most lenders will overlook derogatory medical bills!
~Kesha
You might look up "WhyChat's" HIPAA approach on Google.
If you handle medical collections correctly, they come off. Even if HIPAA doesn't work, you might be able to negotiate a delete-for-pay arrangement (called "pay for delete" elsewhere) .. PFD.
Mario's right, but I'll say it even louder...NEVER deal with collection agencies! If you have a debt with a company, repay the company and do not pay the collection agency.
Quote:
On 2004-09-28 22:55, honii wrote:
... Also, when you are applying for something, even a house, most lenders will overlook derogatory medical bills!
~Kesha
But they won't spot you the FICO points, so you still may not qualify for a decent rate or a prime card.
Good news
I contacted the hospital billing company not the collection agency and am paying the bill.
They are going to delete the non payment mark from my credit report because I did not recieve any of their correspondence . So it's like starting clean . Thanks Mario and Autoharp for the advice about dealing with the people I actually owe not the collection agency
Your welcome!
Sincerely,
Mario Costanz
Quote:
On 2004-10-07 00:39, Niceguy1 wrote:
Good news
I contacted the hospital billing company not the collection agency and am paying the bill.
They are going to delete the non payment mark from my credit report because I did not recieve any of their correspondence . So it's like starting clean . Thanks Mario and Autoharp for the advice about dealing with the people I actually owe not the collection agency
Since you are going to pay for delete I would get that in writing before I paid the bill. You wouldn't want them to "forget".