11-14-2012 03:01 PM
There are SEVERAL posts about medical bills...but all of the acronyms are so confusing for someone who is new. We bought a brand new van 2 weeks ago. Our score was much lower than we thought. 604 and 624. We want to refi our house, but need to be at 640. Overall, our credit has improved. 7.5 yrs ago we filed bankruptcy chapter 7. We have credit cards to rebuild. Had those for over 2 years and no late payments or anything.
Husband's credit report has 11 medical bills. Most of them are at the same place. I talked to Wells Fargo about refi-ing. Said we need a 640. Talked to him about medical bills...said it is a catch 22 in that if we pay the medical bills they will report paid, but not come off and that will hurt our score. The total is around $3000 for all of them. One of them is $6.00 and we were not aware of that...seriously!!! $6.00 we can do
What do we do? HELP...please.
11-14-2012 03:39 PM
Are the medical bills showing on your credit report from the actual medical provider or from a collection agengcy?
11-14-2012 05:26 PM
You could send a PFD, "Pay For Delete" to them. This means that they agree to delete the collections from you CR if you pay them the debt. You can even try to get a bargain, see what they will settle for. Just paying them will not remove them, you will need to negotiate this.
11-15-2012 08:10 AM
Do you negotiate this by mail, by phone? Do I get it in writing that they will delete before we send money? If they delete it all together, that will help our score right?
11-15-2012 08:39 AM
AFNI did the same thing to me with a medical bill. They broke the bill out 5 different ways and put 5 separate entries on my credit report. Some of the entries were less than $10.00. I remember one entry for $7.00. I contacted AFNI and they agreed to the PFD (Pay-for-Deletion). A month after I paid AFNI they were removed. I also PIF (Paid-In-Full) for the entire balance.
Funny, I sent 1 money order to pay for several entries on my credit report! Do not pay them unless you get a PFD. I can't stress that enough. If they say "no" to your request, keep pushing. It doesn't do the CA (Collection Agency) any good not to get paid.
I'm rooting for you!