How much would it hurt my score to pay off old medical collections?

[Anonymous]

most of these range in date assigned from 2002-2003.  I have heard from so many not to pay them as they will look new.  How much will it hurt my score or lower it if I pay them.  I have tried PFD and it was a no go. 

[valley_man0505]

If they are medical collections, they HAVE to be removed once paid.  However, to ensure that this happens, search the forums regarding info on the HIPPA process.

For non-medical collections, you are right, you will often get a decrease by paying them since they will update as new (paid, but still a "new" derogatory).  That is not the case with medical collections, however, if the HIPPA process is followed.

Someone please correct me if I am wrong.

[jbh]

I thought fico won't change score if a collection is paid. Besides, one could not re-age the DOFD/fall off time, I thought.

[llecs]

As mentioned use the HIPAA process and circumvent the CA.

For all other PFDs to CAs, I would say never give up. My last baddie to go was Verizon Wireless. I stated this over and over, but I sent at least 50 PFDs before they accepted the last one. They told me over and over they don't accept PFDs. They even told me it was illegal. It was all lip service. If I quit on #49, then it would still be on my reports.

I said this before, paying a CA will not reage the account. However, FICO could read it as a newer account and therefore you could could see a drop. I say it is a 50/50 shot with losses of 10-20 pts.

[Anonymous]

that is totally not true, just found out!!! by law "its supose to NOT hurt your score", that changed in 2009, that if you paid off an old collection, it couldnt lower your score any longer. i just paid off two collections a month ago and my score dropped. i JUST got off the phone with a Fico rep whom told me other wise , that it CAN still lower your score because its new activity. so bottom line, even FICO doesnt know what the hell is going on!

[MarineVietVet]

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@Anonymous wrote:

that is totally not true, just found out!!! by law "its supose to NOT hurt your score", that changed in 2009, that if you paid off an old collection, it couldnt lower your score any longer. i just paid off two collections a month ago and my score dropped. i JUST got off the phone with a Fico rep whom told me other wise , that it CAN still lower your score because its new activity. so bottom line, even FICO doesnt know what the hell is going on!

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I know this is an old thread but I am wondering what law you are referring to?

Is it possible for you to post a link?

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

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[MarineVietVet]

Have you found that law yet?