need advice about some things in collections

Anonymous · ‎02-13-2012

I have been working on rebuilding my credit over the past two years or so. About 3 weeks ago I sent about 5 pay for delete letters for some medical bills that I had in collections. I was offering to pay in full if they would delete it off my record completely. Well, I have not recieved any responses yet, however I now see on my credit report that 2 of these agencies that I wrote to went from being in collections on my credit report to now being in the closed account section displaying "Paid, was a collection account, insurance claim or government claim or was terminated for default." What type of impact does this status have on my credit report? Should I continue to try and contact these collection agencies and offer payment in full in exchange for deleting it off my record? Can someone please let me know if this change in status is good or bad, or what I should do now? I appreciate any advice.

GoodCredBen · ‎02-13-2012

A paid collection and a non paid collection have no difference on your score, so there would be virtually no change.

My credit journey has completed. I am currently sitting at 800+ across the board.

I started my journey here years ago, and thanks to MyFico, it really is possible.

GoodCredBen · ‎02-13-2012

PS.

Since medicals are so easy to get taken care of, i would kick off with a DV, and then PFD again, or bombard them with PFD, or simply pay the original creditor?

My credit journey has completed. I am currently sitting at 800+ across the board.

I started my journey here years ago, and thanks to MyFico, it really is possible.

cracksmeup · ‎02-13-2012

Can you please explain to me how medicals are so easy to take care of? My girlfriend has about 10 of them on her CR we are trying to take care of.

Thanks,

Mo

GoodCredBen · ‎02-13-2012

once they are PAID,

google the HIPPA way to get things removed from your CR

My credit journey has completed. I am currently sitting at 800+ across the board.

I started my journey here years ago, and thanks to MyFico, it really is possible.

afbar1114 · ‎02-13-2012

I think any thing that is MEDICAL and coded as such is not allowed to be counted in to scores. I have seen that on a site just can't remember where...

AMEX PRG; AMEX EveryDay $14,800; Freedom $6k; Sapphire $7k; IHG Select $5k; Discover $2,400; BofA Better Balance $9,100; Bank Americard $5,900; Citi DC $2,700; Citi Diamond $2,500; BestBuy $20,000; Amazon Prime $5k, United Club $15,000; Home Depot $20,000; Barclays $7,500

Total Credit Limits: $122,650

MarineVietVet · ‎02-13-2012

@afbar1114 wrote:
I think any thing that is MEDICAL and coded as such is not allowed to be counted in to scores. I have seen that on a site just can't remember where...

This is not correct. A collection is a collection and they are all scored the same. If I were you I would ignore any more "information" you read at that site.

afbar1114 · ‎02-13-2012

i thought something that was coded as medical wasnt allowed to be

AMEX PRG; AMEX EveryDay $14,800; Freedom $6k; Sapphire $7k; IHG Select $5k; Discover $2,400; BofA Better Balance $9,100; Bank Americard $5,900; Citi DC $2,700; Citi Diamond $2,500; BestBuy $20,000; Amazon Prime $5k, United Club $15,000; Home Depot $20,000; Barclays $7,500

Total Credit Limits: $122,650

MarineVietVet · ‎02-13-2012

@afbar1114 wrote:
i thought something that was coded as medical wasnt allowed to be

If that was so there would be far less posts talking about damage done to scores by collections (including medical) being placed on reports.

MarineVietVet · ‎02-13-2012

@afbar1114 wrote:
I think any thing that is MEDICAL and coded as such is not allowed to be counted in to scores. I have seen that on a site just can't remember where...

If you don't mind if you remember where you read that could you send me a PM with a link? I'd like to read what it says.