To Pay or Not to Pay Minor Set Back need advice

[monieleazenby]

Nice way to come into the new year just a few dispute results just my luck lol. To pay or not to pay?

Medical Collections

St. Joseph- $533.00-    EX  (Sceduled to report until 10-1-15) Will fall off 1 years

St. Joseph- $1,200.00- EX (Sceduled to report until 6-1-16)    Will fall off 2 years

St. Joseph- $820.00-    EX  (Sceduled to report until 6-1-16)   Will fall off 2 years

St. Joseph- $1,200.00- EX ( Sceduled to report until 8-1-16)   Will fall off 2 years

St. Joseph- $1,000.00- EX (Sceduled to report until 8-1-16)    Will fall off 2 years

Total            $4,753.00

Okay the right thing to do in this case is to pay in full however the credit agency has refused the pay to delete. Thus I'm looking at two years with these reflecting on my credit report. Please adivse if I should just pay them anyways. In my case what good does it do to pay if they remain on my credit report until they fall off? I know this is not a good way to view it, but I am. I would like to know if anyone has paid off a collection and even if it's paid in full does it increase my credit scores or remain the same- How will this affect my credit score if any if I pay them in full. Should the credit agency not pay to delete then it's pointless for me to pay them off.

Thanks for your feedback

Monie

[gdale6]

I am assuming they are medical.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/HIPAA-question/m-p/628803#M94759

[monieleazenby]

Yes they are.

[RobertEG]

It does a lot of good.

Once credit report exclusion of the reported collections occurs, which is no later than 7 years plus 180 days from the DOFD on the OC account, that will result in others not being able to become aware of the unpaid debt by seeing an open collection.

Upon exclusion of the collections, the unpaid debt still remains, and can be discovered by other means.

One is to simply ask in your credit app process for disclosure of any unpaid, delinquent debt.

Another is the possibility, if your credit app is for credit in the amount of $150K or more, for a full-file credit report which can include any and all prior derogs, including those that are normally past their credit report exclusion periods.

It is always best, other than $$ out of pocket, to satisfy all delinquent debt.  it may come back to bite you.

[monieleazenby]

There is so much I am not aware of in terms of how the credit report procedures work. Thank you for your feedback

Monie

[1point]

I am trying to clean up credit - long and short term goals.  I too am trying to figure out what to do about 3 medical collections. They are not much but I need to try and improve my credit as much as possible in the next few months.  My main question is regarding medical collections what date matters?  I have on my transunion report opened date and reported date and balance date.  Does anyone know which date effects the credit score the most?  the opened dates are 8-2010, 2-2011 and 9-2013.  The report dates are all updating each month.  Wondering if I pay them will that lower my score very much in the short term and how long to recover anything from them either way.