Reply
New Member
Posts: 3
Registered: ‎08-07-2012
0

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.

Senior Contributor
Posts: 3,491
Registered: ‎07-25-2008
0

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.


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


Take the FICO Fitness Challenge
New Member
Posts: 3
Registered: ‎08-07-2012
0

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
Posts: 2,665
Registered: ‎06-05-2008
0

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: 814 - EQU:813 - TRAN: 809 - AVG: 812 +262 points from JUN 2008 - MY CREDIT JOURNAL

Moderator
Posts: 17,419
Registered: ‎07-14-2009
0

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
Posts: 3,491
Registered: ‎07-25-2008
0

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


Take the FICO Fitness Challenge
New Member
Posts: 3
Registered: ‎08-07-2012
0

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

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

Senior Contributor
Posts: 3,491
Registered: ‎07-25-2008
0

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
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.