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Collections on Credit Report ?

Member

Collections on Credit Report ?

I have 2 small medical collections from a hospital on my credit report. They do belong to me.  They are from a collection agency.

 

  1.     I understand that if I pay the collection agency the full amount due that it will NOT help my credit score.  Is that true ?

 

   2.    Is there anything I can do to have these removed from my credit file ?

 

   3.    Does anybody know if I could still pay the hospital directly and ask them to remove the 2 collections ?

 

   4.    Does a collection agency have the ability to remove from my credit report if I pay them in full ?

 

 

Thanks

 

 

 

 

Message 1 of 7
6 REPLIES
Frequent Contributor

Re: Collections on Credit Report ?

1) it will not help your score, though it looks better on manual review.

2) you can try a pay for delete with collection agency, or just pay and and after send good will letters asking them to remove.

3) it is possible, but no guarantee CA would remove unless hospital agrees and collection agency has good working relationship with hospital.

4) yes, CA's can report anything they wish, including the ability to delete.

Collection agencies want to get paid first and foremost. A pleasant agreement asking them if you pay in full will they delete is your best option. And get that in writing from them.

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Message 2 of 7
New Contributor

Re: Collections on Credit Report ?

Hi Vettecor - Welcome to the boards.

 

I'm new to the boards so I'm no authority on any of this. However, I've done a ton of reading and figured I'd point you in a direction that helped me. IMO you may benefit from attempting a PFD (Pay For Deletion). Here's a thread that you can check out that will help you understand how this works. You'll also find a ton of threads listed with success stories of people being able to accomplish this:

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/...

 

I hope this information helps you out!!!!


Starting Score Early 2013: TU - 556 & EF - 552 & EXP - 591
Current Score 10/09/14 (MyFico): TU - 666 & EF - 665 & EXP- 711
Goal Score: 730 Across all 3 bureaus
Message 3 of 7
Senior Contributor

Re: Collections on Credit Report ?

I paid one, asked to delete and they did.
Message 4 of 7
Senior Contributor

Re: Collections on Credit Report ?

Make that two deletions
Message 5 of 7
Epic Contributor

Re: Collections on Credit Report ?


Vettecor wrote:

I have 2 small medical collections from a hospital on my credit report. They do belong to me.  They are from a collection agency.

 

  1.     I understand that if I pay the collection agency the full amount due that it will NOT help my credit score.  Is that true ?  Yes, it is true.  Won't help your FICO.

 

   2.    Is there anything I can do to have these removed from my credit file ? Ask for a PFD - pay for delete.  You pay, they delete.

 

   3.    Does anybody know if I could still pay the hospital directly and ask them to remove the 2 collections ? You can ask the OC if you can pay and recall the debt from the CA.  They can also ask them to remove their TL but the CA doesn't have to do that.  The OC has to still own the debt to take your money.

 

   4.    Does a collection agency have the ability to remove from my credit report if I pay them in full ? Yes they do.  A PFD.

 

Welcome to the forums.

 

 

Thanks

 

 

 

 


 

Message 6 of 7
Highlighted
Member

Re: Collections on Credit Report ?

Thank you so much for ALL of this wonderful information.

Message 7 of 7