04-29-2012 07:48 PM
What are my options?
The debt is $1013 from a service date August 2006.
Collection Agency says it does not accept pfd's and if when paid will mark as paid in full on my credit reports.
(collection agency is First Point)
Thats not good enough for me. I need and want this account deleted from my report.
Why would they not opt to accept something instead of nothing?
I would appreciate any and all advice. Thanks.
04-29-2012 08:11 PM
04-29-2012 09:02 PM
04-30-2012 03:19 AM - edited 04-30-2012 03:25 AM
Perhaps they are just abiding by their reporting agreement with the CRAs not to delete information on the basis of payment of a debt.
You can pay and at least get the unpaid bad debt eyesore taken care of, or just wait another year or so for its normal CR exclusion date.
If you plan to apply for new credit prior to its CR exclusion, you may have to answer some questions about why you have an unpaid delinquent debt.
CR exclusion might no ensure that its history will never become known to another.
The logic behind the so-called HIPAA process only kicks in once the permissible purpose for their retention of the medical information has gone away due to payment of the debt.
04-30-2012 03:25 AM - last edited on 04-30-2012 10:20 AM by MarineVietVet
Yes, google HIPPA method.
Also fire off a letter to your congress person (which can EASILY be done from their website) that you support the current bill in committee Medical Debt Act of 2012 to require ALL paid medical collections to be removed within 45 days.
*Love* that you cannot get a mortgage loan because you make too much money to qualify for help, but not enough to pay RIDICULOUSLY inflated medical costs associated with care.
04-30-2012 09:15 AM
I suggest that PFD works best on OCs, and that the CA hears that you're interested in paying and thinks that they can say "we'll mark it paid in full" and you'll be a bumpkin uninformed consumer and think that by doing so you've improved your credit.
I think "paid in full" on a report is such a scam-- since it is still derogatory info on your report. You really have no incentive to pay unless they delete, since they've already taken as much action as they are likely ever going to take.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.