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CAN UNPAID COLLECTION OF $50 INFLUENCE CREDIT SCORE?

New Member

CAN UNPAID COLLECTION OF $50 INFLUENCE CREDIT SCORE?

I wonder whether unpaid medical collection of $50 will affect my credit score? If yes, how badly? I don't want to pay because of moral principles (don't want to get into details about it) rather than anything else.

7 REPLIES
Senior Contributor

Re: CAN UNPAID COLLECTION OF $50 INFLUENCE CREDIT SCORE?

A lot! Especially if you have a perfectly clean record.

 

Make sure whatever moral stand taken is worth it being on your credit report for 7 years.

 

Generally, there are ways to dispute or challenge physician fees, insurance non-payment, or a lot of other issues without ruining ones credit.


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Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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New Member

Re: CAN UNPAID COLLECTION OF $50 INFLUENCE CREDIT SCORE?

Thank you very much for a quick response. Could you please explain what's FICO 8's standing on small unpaid charges?

Valued Contributor

Re: CAN UNPAID COLLECTION OF $50 INFLUENCE CREDIT SCORE?


FIND wrote:

Thank you very much for a quick response. Could you please explain what's FICO 8's standing on small unpaid charges?


Simple - It counts as an unpaid collection account.  It could seriously damage your score.  You should see about negotiating a PFD.

3-26-15: FICO EXP: 828 - EQU:820 - TRAN: 828 - AVG: 825 +275 points from JUN 2008 - MY CREDIT JOURNAL

Moderator Emeritus

Re: CAN UNPAID COLLECTION OF $50 INFLUENCE CREDIT SCORE?


FIND wrote:

Thank you very much for a quick response. Could you please explain what's FICO 8's standing on small unpaid charges?


Welcome to the forums.

 

FICO08 will exclude collections less than $100. However, since it was only rolled out a couple years ago, you'll be very hard-pressed to find a lender who is using that FICO version.

Senior Contributor

Re: CAN UNPAID COLLECTION OF $50 INFLUENCE CREDIT SCORE?

An unpaid CO probably comes with late payments. No thanks!

 

You'll end up paying more than $50 in insurance, mortgage, interest, or other situations where credit score is used.

 

I've been in a few situations where stubbornness blurred the line between being and feeling right, LOL!

 


Curiosity has gotten the best of me, sadly. What is the moral reason you can't pay this bill?


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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New Member

Re: CAN UNPAID COLLECTION OF $50 INFLUENCE CREDIT SCORE?

Thank you all for the feedback. I got the message Smiley Happy

Senior Contributor

Re: CAN UNPAID COLLECTION OF $50 INFLUENCE CREDIT SCORE?

I gotta know!


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge