Medical bills paid in full will fall off?

[Anonymous]

I have 2 medical bills in collections on my CR. One is $25, the other is $36. I have called both collection agencies and told them I will pay in full for a PFD. They both are telling me that if I pay in full they will fall off within 30-90 days. Is this the case or should i press for  PFD or go another route? Thanks!

[Anonymous]

If they request that the TL get deleted it can take up to 90 days for that to actually go full circle.   If you stated you would PFD and then they said it will be removed in 30-90 days, then there is validity to that. 

They do not just fall off on their own.  You must be careful with your wording as well as fully understanding what they are saying.

[Anonymous]

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@Anonymous wrote:

If they request that the TL get deleted it can take up to 90 days for that to actually go full circle.   If you stated you would PFD and then they said it will be removed in 30-90 days, then there is validity to that. 

They do not just fall off on their own.  You must be careful with your wording as well as fully understanding what they are saying.

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I'm not sure I understand correctly. Are you inferring that the CA can not offer me a PFD legally and by them telling me it will fall off in 30-90 days that is them telling me that it will come off?

[Anonymous]

There seems to be quite a few CA's that apparently DO grasp the fact that medical bills should NOT necessarily reflect on ones credit history, and will routinely delete reporting after they are paid. There are also a lot that don't, unfortunately. It would be nice if credit report exclusion of PAID medical bills was part of FCRA's next 'update'.

[Anonymous]

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@Anonymous wrote:

There seems to be quite a few CA's that apparently DO grasp the fact that medical bills should NOT necessarily reflect on ones credit history, and will routinely delete reporting after they are paid. There are also a lot that don't, unfortunately. It would be nice if credit report exclusion of PAID medical bills was part of FCRA's next 'update'.

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Mine all seem to be in the 'don't' category, BTW.

[gdale6]

CAs have agreements with the CRAs that state they wont delete valid collection information once its been paid so to give you a piece of paper stating they will do it is pretty much out of the question. 99% of the time when a CA says they will remove within a period of time it gets done, there are ways to get a verbal contract enforced should they decide to play games and not delete when they said they would.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

If they request that the TL get deleted it can take up to 90 days for that to actually go full circle.   If you stated you would PFD and then they said it will be removed in 30-90 days, then there is validity to that. 

They do not just fall off on their own.  You must be careful with your wording as well as fully understanding what they are saying.

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I'm not sure I understand correctly. Are you inferring that the CA can not offer me a PFD legally and by them telling me it will fall off in 30-90 days that is them telling me that it will come off?

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I am saying they must take steps to have the deletion occur.  If they say they will request that the collection be removed, deleted or similar term then you SHOULD be fine (or in other cases they may say it will be updated to paid only). 

If they are telling you that it will "fall off" on its own, to me, that seems like they are saying it happens similarly to aging.

My suggestion is to just clarify with them what they mean by "fall off".

[Anonymous]

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@Anonymous wrote:

There seems to be quite a few CA's that apparently DO grasp the fact that medical bills should NOT necessarily reflect on ones credit history, and will routinely delete reporting after they are paid. There are also a lot that don't, unfortunately. It would be nice if credit report exclusion of PAID medical bills was part of FCRA's next 'update'.

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Ask and you shall receive Norman.  I had already read that medical collections would be changed in scoring modules.  The Vantage 3 model excludes paid collections and closed accounts.  Unfortunately, by the time this is implemented, mine will have fallen off lol  

The new FICO® Score 9 introduces a more nuanced way to assess consumer collection information, bypassing paid collection agency accounts and offering a sophisticated treatment differentiating medical from non-medical collection agency accounts. This will help ensure that medical collections have a lower impact on the score, commensurate with the credit risk they represent. These enhancements help lenders because it leads to a more predictive score. The median FICO Score for consumers whose only major negative references are medical collections will increase by 25 points.

[Anonymous]

Bback - please be sure you get the pay to delete IN WRITING from them.  CA's are infamous for telling you anything but the way they word it, isn't what it sounded like.  Without having it in writing, they won't do anything.  If it is in writing 2 things can happen.  One, they will actually honor it and within 30-90 days (whenever they report), it will be delted.  #2, you have the agreement, if they don't remove it after 90 days.  You can dispute it by sending a copy of that agreement to the credit bureau's and ask they remove it.  Just paying it doesn't magically make it go away.  The CA has to take the correct actions first.