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Medical Debt 6 yr mark

Frequent Contributor

Medical Debt 6 yr mark

I have medical debt from years ago when I was around 20 years old. An act of violence was committed against me and I was forced to ride EMS as well as a CT scan . Long story short they never caught the people and I am stuck with $10, 000 in debt. I now am married with two kids and have been rebuilding my credit in order to buy a home.

Here is the deal: it is only reporting on my Equifax report.

Firstpoint Coll Resources Inc; Collection Reported 12/2010; Assigned 01/2008; Creditor Class - Medical/Health Care; Client - Delaney Radiology; Amount - $175 ; Status as of 12/2010 - Unpaid; Date of 1st Delinquency 07/2007; Balance as of 12/2010 - $175 ; Individual Account; Account # -

Firstpoint Coll Resources Inc; Collection Reported 12/2010; Assigned 05/2007; Creditor Class - Medical/Health Care; Client - Radiology; Amount - $1,419 ; Status as of 12/2010 - Unpaid; Date of 1st Delinquency 11/2006; Balance as of 12/2010 - $1,419 ; Individual Account;

Paragon Revenue Group; Collection Reported 10/2011; Assigned 04/2007; Creditor Class - Medical/Health Care; Client - Regional Medical C; Amount - $11,384 ; Status as of 10/2011 - Unpaid; Date of 1st Delinquency 03/2007; Balance as of 10/2011 - $11,384 ; Individual


Unfortunately I am in no position to pay these off. I have 3 CC for a year now , I am planning to apply for a small car loan and pay that off before I apply for a FHA loan. Definitely trying to do something about these before I apply for anything else. Any advice on how to speed up this process without waking up these mummies.

Keep in mind they only report to Equifax? Have no clue why.

My scores are as follows
TU-613
Exp plus-717
Equifax- I don't know
Credit karma-603

Please help!

Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
3 REPLIES
Community Leader
Epic Contributor

Re: Medical Debt 6 yr mark

"Waking them up" depends upon what they can currently do.

Has your obligation for the debt passed the statute of limitations in your state, which would determine whether they could bring successful legal action?

 

The collections will each be excluded from your credit report after 7 years plus 180 days from their reported DOFD.  That exclusion date cannot be extended by any communications you have with the debt collector. 

 

 

 

Frequent Contributor

Re: Medical Debt 6 yr mark

Well past the SOL for my State. So I guess I need to wait it out... Thanks


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Highlighted
Frequent Contributor

Re: Medical Debt 6 yr mark

If its past the SOL, the power is in your hands.

 

You could do a myraid of things.

 

offer a PFD at a miniscual percentage of the amount owed making sure to note that they no longer can bring a suit against you since its beyond SOL and that in a year or so it will be dropping off anyways so you are doing THEM a favor by offering them money. they may counter and it then becomes a negotiation game at taht point.

 

if no matter what they refuse to delete for any payment then try to just outright settle - you won't get a bump in score; HOWEVER, you will not get a mortgage with any unpaid/settled collection on your reports - but you CAN get one if it is paid with a $0 balance - since its only on 1 the mortgage company might overlook it with its age since its been paid. Plus then you can GW them till they get annoyed or even try the HIPPA process (google it).

 

Don't just sit and wait for it to come off your report, even if you get 2 of the 3 off, that would be a good thing.



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three