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Medical Collections won't affect score (according to Time Magazine)?

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Teo
Valued Member
‎10-09-2016 09:08 AM
‎10-09-2016 09:08 AM

Medical Collections won't affect score (according to Time Magazine)?

I came across this August '14 article.  Since my only collections are old medicals, it got my attention.  Anyone know anything about this - is it referring to Fico 9 (which nobody uses)?  I'd appreciate any info/thoughts.  Thank you.

 

Here's Why Your Credit Score is About to Improve (Time Magazine August 2014)

Current FICO 743, no baddies
April '16 550 4 collections

Current credit and limits (in order of approval)
Discover It (Unsecured at 6 mos) 4.6k -- Cap 1 Quicksilver One (900) -- Overstock (3800) -- NFCU Cash Rewards (25k) -- Share Secured Installment (500 - paid down to 40ish) -- Amex PRG (NPSL) -- Amex BCP (25k) -- Amex EDP (15k) -- Citi Advantage (10k)
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Anonymous
Not applicable
‎10-09-2016 09:42 AM
‎10-09-2016 09:42 AM

Re: Medical Collections won't affect score (according to Time Magazine)?

Paid medical are exluced from FICO 9 which is not commonly used. The commonly used FICO versions do count paid medical debts against you. There are ways to remove paid medical debts from your reports (HIPAA method) but discussion about that is probably banned here.

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