Question about collections

Anonymous · ‎10-24-2015

Hi all, I have three items on my report that are under collections.
2 of them are paid off, but they are still there. 1 of them is from 2010 for $5000. A medical bill when I had no insurance and had to go to the emergency room.
I saw on one report that the last judgment may be scheduled to drop off in December of this year.
Should I believe this? It was from my yearly credit report.
If not, should I contact and try to start paying it off?
I was thinking I'd be able to contact to make a deal for it to be reported differently than collections if I start making payments.

Advice?

Also what about the other 2 that have no balance? Is it too late to try to get those removed?

Thanks!
Ed

Anonymous · ‎10-25-2015

@Anonymous wrote:
Hi all, I have three items on my report that are under collections.
2 of them are paid off, but they are still there. 1 of them is from 2010 for $5000. A medical bill when I had no insurance and had to go to the emergency room.
I saw on one report that the last judgment may be scheduled to drop off in December of this year.
Should I believe this? It was from my yearly credit report.
If not, should I contact and try to start paying it off?
I was thinking I'd be able to contact to make a deal for it to be reported differently than collections if I start making payments.

Advice?

Also what about the other 2 that have no balance? Is it too late to try to get those removed?

Thanks!
Ed

Medical debt carries slightly less weight than credit card debt but it's still a Neg. Check your state laws re: medical bills\debt. When you paid the medical bill did you ask for a written promise( before you paid) from the CA that it would be removed from your report? Re: the debt that's coming off in Dec, call whatever bureau is reporting it and talk to them. They may give you an EE ( early exclusion ) and remove it 2-4 months early. Calling a CA won't restart the clock but setting up a payment plan or sending in just one small payment on an old debt will. You can't be sued for time barred debt but they can call & hound you and try to make you think you have to pay. Many CA's sell off debt that is time barred to low life collectors. The 2 accts that show no balance can stay on your report for 7 + years from date of last activity. You can write them-look up good will letters. Be pro active, aggressive and know your rights.

Anonymous · ‎10-29-2015

Thanks! Last week I sent out some gw letters, and will be in touch with the credit beaureaus about early withdrawal of the old debts that are dropping off in December!

RobertEG · ‎10-29-2015

Can you clarify the situation regarding the unpaid debt.... the debt collector has obtained a judgment, and you are asking when the judgment will become excluded from your credit report, or when their reported collection will become excluded?

Anonymous · ‎10-30-2015

Sorry, I was not clear. I actually didn't mean a judgement. It went to collections years ago and my credit report from experian says it is due for removal this December.
Sorry about the confusion!

RobertEG · ‎10-30-2015

Exclusion of a collection from your credit report must occur, per FCRA 605(a)(4) and 605(c), no later than 7 years plus 180 days from the date you first became delinquent on the account with the original creditor. That fixes a date-certain that will not be affected by any other actions, such as any reporting by a debt collector, or any payments made against the debt. Payments can reset the statute of limitations under which a creditor may sue you for the debt, but payments do not alter the credit report exclusion date.

Credit report exclusion will hide the fact of the unpaid debt by preventing others from becoming aware of it by way of a simple pull of your credit report, and seeing derogs reported on the debt. However, it does not excuse/discharge the debt, and if it becomes known to a prospective creditor, could possible still be a factor in their lending decision. Once SOL and credit report exclusion have occured, the owner of the debt is usually more likely to settle for a much lower percentage of the debt.