I can't provide any guidance on your BK, but can tell you any Collection Account will have a (relatively) significant impact on your overall profile. That said, medical collections are oftentimes easier to deal with than other collection accounts (do a Google search). It is also a widely held belief that 30 day lates over 3 years old do not have that much of an impact.
Are the medical collections paid or unpaid? If they are paid, you might want to see if they will do pay for delete (PFD) on them. If they are paid, you definitely want to start a GW letter campaign. I had the best luck getting paid medical collections removed by contacting the original creditor (OC) and pleading my case. I was able to get 8 paid medical collections with 3 different collection agencies (CA) removed this way.
On the 30 day lates, I would definitely work on goodwill removals of those as well. If you still have those accounts, try calling them and asking them for a one time removal, otherwise start sending GW letters.
@Anonymous wrote:Hi everyone,
Total newbie here, but I am trying to dig out of a credit score of 615. I have a 5 year old Chapter 7, some medical collections, and 2 really old 30 days that are killing me.
Any suggestions? I know I need to pay down the balance of one of my CC but I'm also struggling with successful goodwill letters.
Any and all help will be greatly appreciated!
Jen
For medical debt:
1. Call the OC and ask that they recall the collection in exchange for full payment
2. Send the reporting CA a PFD offer
3. Google the HIPAA Process and contact its creator for help
30 day lates tend to stop hurting you score after 2 years but its dependent on your whole credit picture. You would send GW letters asking for forgiveness of the lates to the reporting creditor. There isnt much you can do about that actual BK entry at this point it will remain in file for 10 years. As Norman has suggested get your cards paid down ASAP they have the biggest effect on your Fico next to payment history.
