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Established Contributor
Posts: 573
Registered: ‎02-12-2011
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Pay $49 collection to florida hospital with Assigned date of 2007?

Hello all, 

 

I recently pulled my EQ FICO via myfico's program and there are several bad things on my report I am trying to fix, but only 2 under the collection tab. One is to a local college that I will attempt to resolve in February. The other is a $49 collection from a hospital with an assigned date of 2007. Will paying this help me at all or what? I have received no contact from any CA about this $49. Thanks.



Starting Score: EQ: 383 2/2011
Current Score: TU: 644 EQ: 648 EX: 6?? 2/2015
Goal Score: 700


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Posts: 12,952
Registered: ‎04-15-2011
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Re: Pay $49 collection to florida hospital with Assigned date of 2007?

If you were to just pay it, it will still be posted to your account as a collection, only it will be marked paid.  This is still a major derogatory and will still affect your score in a negative matter.  What I would suggest is you attempt to do a PFD, Pay For Deletion.  This way they will get their money and you will get the negative removed from your CR.  Here's a link below that will give you some more information on it.  Good Luck.

 

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-Steps-Do-I-Take-Do-I-DV-PFD/td-p/337142

 

 


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Contributor
Posts: 2,660
Registered: ‎04-25-2011
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Re: Pay $49 collection to florida hospital with Assigned date of 2007?


sphinx313 wrote:

Hello all, 

 

I recently pulled my EQ FICO via myfico's program and there are several bad things on my report I am trying to fix, but only 2 under the collection tab. One is to a local college that I will attempt to resolve in February. The other is a $49 collection from a hospital with an assigned date of 2007. Will paying this help me at all or what? I have received no contact from any CA about this $49. Thanks.


Well;

 

I would personally suggest contacting the hopsital first and see if you can settle it with them. You always want to work the OC if you possibly can.

 

The intent would be: pay the 49 dollars in exchange for the hospital contacting the CA and having them remove the account from your credit report. The CA will recieve their contracted commission regardless of who you pay. If the hospital accepts payment, you might be able to leaverage them against the CA; since the CA will want to keep the OC happy since that is THEIR client.

 

Keep in mind, there is nothing in any statute that requires this deletion of the CA if you pay the OC; it is just a tactic you can use, I have used it positively on 2 medicals.

 

If you contact the OC, and they don't agree to this or cannot accept payment, I would follow Shoguns advice; but I would try to work with the OC before moving on to the CA personally, but YMMV

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Established Contributor
Posts: 573
Registered: ‎02-12-2011
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Re: Pay $49 collection to florida hospital with Assigned date of 2007?

Excellent, on my next day off I will contact the OC and see what I can get done. Thank you very much! If you guys have the time, please review my other post which showcases all of my credit shortcomings. I have witnessed your advice in other threads and would entertain all of your direction!



Starting Score: EQ: 383 2/2011
Current Score: TU: 644 EQ: 648 EX: 6?? 2/2015
Goal Score: 700


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Moderator
Posts: 12,952
Registered: ‎04-15-2011
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Re: Pay $49 collection to florida hospital with Assigned date of 2007?

Just got through with posting on one of your other threads. :smileyhappy:


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

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