Very old medical collections

Anonymous · ‎06-30-2016

My goal is to purchase a home in the next 6-9 months, and I've got 4 outstanding medical debts from 4-6 years ago looming over my head.

I was told making small payments would essentially make my credit worse, is this true? One of them is over $10,000 and there's no way I can pay that off at once unless I dip into my retirement accounts.

I didn't have health insurance at the time and was unemployed, and the amount left was after they gave me a "good will discount".

Not sure what my options are or how to proceed.

Thanks!

- C

gdale6 · ‎06-30-2016

@Anonymous wrote:
My goal is to purchase a home in the next 6-9 months, and I've got 4 outstanding medical debts from 4-6 years ago looming over my head.

I was told making small payments would essentially make my credit worse, is this true? One of them is over $10,000 and there's no way I can pay that off at once unless I dip into my retirement accounts.

I didn't have health insurance at the time and was unemployed, and the amount left was after they gave me a "good will discount".

Not sure what my options are or how to proceed.

Thanks!

- C

Constant updating of derog TLs keeps Fico scores depressed. If these havent updated in awhile then you may just want to leave them alone until you can get a PFD at some point. Dont know what your smaller amount ones are but maybe you can pay those. Here is how to approach them. Some mortgage issuers will discount medical debt it just depends.

For unpaid medical debt that is reporting on your CR:

1. Call the OC and see if you qualify for Charity Care
2. If not then ask that they recall the collection in exchange for full payment
3. Send the reporting CA a PFD offer
4. Google the HIPAA Process and contact its creator for help

Anonymous · ‎06-30-2016

@gdale6 wrote:
@Anonymous wrote:
My goal is to purchase a home in the next 6-9 months, and I've got 4 outstanding medical debts from 4-6 years ago looming over my head.

I was told making small payments would essentially make my credit worse, is this true? One of them is over $10,000 and there's no way I can pay that off at once unless I dip into my retirement accounts.

I didn't have health insurance at the time and was unemployed, and the amount left was after they gave me a "good will discount".

Not sure what my options are or how to proceed.

Thanks!

- C
Constant updating of derog TLs keeps Fico scores depressed. If these havent updated in awhile then you may just want to leave them alone until you can get a PFD at some point. Dont know what your smaller amount ones are but maybe you can pay those. Here is how to approach them. Some mortgage issuers will discount medical debt it just depends.

For unpaid medical debt that is reporting on your CR:

1. Call the OC and see if you qualify for Charity Care
2. If not then ask that they recall the collection in exchange for full payment
3. Send the reporting CA a PFD offer
4. Google the HIPAA Process and contact its creator for help

Thank you so much! I will get started on these steps tomorrow.

- C

RonM21 · ‎07-01-2016

@gdale6 wrote:
@Anonymous wrote:
My goal is to purchase a home in the next 6-9 months, and I've got 4 outstanding medical debts from 4-6 years ago looming over my head.

I was told making small payments would essentially make my credit worse, is this true? One of them is over $10,000 and there's no way I can pay that off at once unless I dip into my retirement accounts.

I didn't have health insurance at the time and was unemployed, and the amount left was after they gave me a "good will discount".

Not sure what my options are or how to proceed.

Thanks!

- C
Constant updating of derog TLs keeps Fico scores depressed. If these havent updated in awhile then you may just want to leave them alone until you can get a PFD at some point. Dont know what your smaller amount ones are but maybe you can pay those. Here is how to approach them. Some mortgage issuers will discount medical debt it just depends.

For unpaid medical debt that is reporting on your CR:

1. Call the OC and see if you qualify for Charity Care
2. If not then ask that they recall the collection in exchange for full payment
3. Send the reporting CA a PFD offer
4. Google the HIPAA Process and contact its creator for help

+1

This is pretty much it

Total CL: $321.7k

UTL: 2%

AAoA: 7.0yrs

Baddies: 0

Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

Anonymous · ‎07-01-2016

@Anonymous wrote:
@gdale6 wrote:
@Anonymous wrote:
My goal is to purchase a home in the next 6-9 months, and I've got 4 outstanding medical debts from 4-6 years ago looming over my head.

I was told making small payments would essentially make my credit worse, is this true? One of them is over $10,000 and there's no way I can pay that off at once unless I dip into my retirement accounts.

I didn't have health insurance at the time and was unemployed, and the amount left was after they gave me a "good will discount".

Not sure what my options are or how to proceed.

Thanks!

- C
Constant updating of derog TLs keeps Fico scores depressed. If these havent updated in awhile then you may just want to leave them alone until you can get a PFD at some point. Dont know what your smaller amount ones are but maybe you can pay those. Here is how to approach them. Some mortgage issuers will discount medical debt it just depends.

For unpaid medical debt that is reporting on your CR:

1. Call the OC and see if you qualify for Charity Care
2. If not then ask that they recall the collection in exchange for full payment
3. Send the reporting CA a PFD offer
4. Google the HIPAA Process and contact its creator for help
Thank you so much! I will get started on these steps tomorrow.

- C

Google the HIPAA Letter Process follow it exactly as laid out. If you have problems finding the website or any questions PM me.

Anonymous · ‎07-01-2016

Thanks all!