topic Re: WHAT DO I DO?????? in Credit Cards

WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 02:19:32 GMT

My credit score went down about 35 points att each credit bureau. I opened a new account and then i got amedical bill at my old address that went to collections that i didnt know about till 4 months later. So now my scores are

TU616

EQ615

EX638

What cards can i get with this collection on there and with these scores?

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 02:22:46 GMT

try a pay for deletion and get the collection off, recover your scores, then app. just my line of thinking though.

Re: WHAT DO I DO??????

haulingthescoreup — Sun, 25 Nov 2007 02:24:27 GMT

@dnm45227 wrote:
try a pay for deletion and get the collection off, recover your scores, then app. just my line of thinking though.

Agreed --clean up first, then app. Otherwise, you will waste apps and get denied for crappy cards.

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 02:31:53 GMT

So i should pay the collection or pfd and wait, or regardless pay it and then apply for more credit? I'm asking do i go ahead and pay it or wait to see if they delete? If dont delete, then do i still pay? its 418.

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 02:34:03 GMT

a pay for delete is just what it sounds like. you send them a pfd letter (do a search for examples), if they accept then they remove all the bad things from your reports. like it never happened.

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 02:37:03 GMT

This is horrible to say, as most of people want to pay- but do your very best to secure a PFD before you do anything. Once you pay them you are at their mercy and your scores WILL NOT go up just because you paid.

It's sad, I know. One of the flaws in the system. I truly believe coll agencies would collect so much money if the scores would reflect it/and or remove them from CR upon payment.

See general questions re: PFD's.

Re: WHAT DO I DO??????

SonorityGenius — Sun, 25 Nov 2007 02:38:32 GMT

Dealing with collection agencies is a nightmare!! Esp since you say its regarding medical bills.. the Original creditor (or medical agency) is best to deal with it first..

Before you do anything - including picking up THAT phone! - read this COMPREHENSIVE strategy on dealing WITH CAs and Making sure they are GONE off your reports!!

http://www.bankrate.com/brm/news/pf/20020311a.asp

BankRate

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 02:39:35 GMT

As a friendly reminder if you have not already done so- go directly to the post office on Monday and file a change of address form.

Growing up in the military I thought this would be a no brainer- but it is astonishing how many people forget to update their address.

Additionally- and this may be overstepping but it is the "trainer" in me- (yes I am a trainer at work when not going to night classes) make sure your current driver's license reflects your updated address.

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 03:13:56 GMT

well i haven't changed my drivers license yet because i just got married and we are planning to move soon so instead i wanted to do it all in one wop, new name and address. But should i try to pay the emergency room first ? can they stop the ca from reporting?

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 03:16:16 GMT

you can try, but they most likely will just direct you to the ca they sold it to.

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 03:20:59 GMT

chozyn1 wrote:
well i haven't changed my drivers license yet because i just got married and we are planning to move soon so instead i wanted to do it all in one wop, new name and address. But should i try to pay the emergency room first ? can they stop the ca from reporting?

Did you update your address where you are now w/ the USPS? Reason being, this could happen again...(not saying you owe anything else)

2nd- read the PFD section, study it- and yes, try to pay the OC first. If they won't accept pymt- which you MUST do- then proceed only w/ a PFD.

Again, and it is a darn shame- but if you pay it (which is the ethical thing to do) IT WILL NOT RAISE YOUR SCORES. So you need to take the time to try to negotiate the PFD BEFORE YOU PAY.

Re: WHAT DO I DO??????

haulingthescoreup — Sun, 25 Nov 2007 03:34:55 GMT

I've read here that many times, medical collections are assigned, but not sold. So approach the OC (the emergency room) and ask if you can pay them (do the whole PFD route) and make sure that part of the deal is that they instruct the CA to remove all their reporting.

But first read all the threads, and you might want to post back here what your plan is. This whole PFD stuff is an intricate ballet, and there are all sorts of land mines that you want to avoid.

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 03:40:17 GMT

i'm just a little confused at all of of this. in the past 4 years i havent had a late or anything derog onmy credit. i had really gotten to the point where i was tryin to straighten my credit. and now i got this on there and it has screwed it up. I didnt know anything about pfd before 2 months ago i was just paying the ca's and doing the right thing and yes they still show on my credit report.but this is ridiculous. im going to try to pay the hospital first. so should i pfd them or pay them straight out? and if that doesnt work i will pfd the ca. My scores are just horrible though. TU 616 EQ615 EX638

Re: WHAT DO I DO??????

haulingthescoreup — Sun, 25 Nov 2007 03:45:55 GMT

This is not paranoid ranting, this is established fact: the CRA's sell information on those whose scores are finally really improving to CA's, because the CA's figure that you're more ready to do what they want to try to hang on to your score. Usually this happens to people who are cracking the 700 barrier, but there's no telling what gold they think they will mine from those in other score ranges.

Again, the customers of the CRA's are not we consumers; their customers are the lenders and by extension, the CA's.

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 03:54:01 GMT

how long do you think it will take me to get to the 700 club? just by not opening a new account and paying off all balances 616.00 and getting rid of installment debt? trying to get there by 2009. oh yaeh and paying that collection account.

Re: WHAT DO I DO??????

Anonymous — Sun, 25 Nov 2007 14:25:59 GMT

chozyn1 wrote:

how long do you think it will take me to get to the 700 club? just by not opening a new account and paying off all balances 616.00 and getting rid of installment debt? trying to get there by 2009. oh yaeh and paying that collection account.

You can try PFD if you have money on the table with the excuse that you never received the bill. Some CAs will work with you this way especially if the address that you are living at is different than the address the bill was sent to. I would even dispute based on the fat tht I was never billed. You credit is important to you, so if you can afford to pay it, even if the delete doesn't work, pay it before it is sold to numerous other agenices. You May want to contact the OC and tell then that you never got the original bill and would be more than happy to pay it but want it removed from your credit file.

Re: WHAT DO I DO??????

Niki9 — Sun, 25 Nov 2007 16:49:39 GMT

Don't pay the hospital first without speaking with them. I did that and they sent the check to the collection agency.

I know that you can contact the collection agency and tell the situation and that you are working it out with the hospital directly.

Or you can do as others have said and get a letter of deletion from the CA before you pay. Once you pay, you have no power.

chozyn1 wrote:
i'm just a little confused at all of of this. in the past 4 years i havent had a late or anything derog onmy credit. i had really gotten to the point where i was tryin to straighten my credit. and now i got this on there and it has screwed it up. I didnt know anything about pfd before 2 months ago i was just paying the ca's and doing the right thing and yes they still show on my credit report.but this is ridiculous. im going to try to pay the hospital first. so should i pfd them or pay them straight out? and if that doesnt work i will pfd the ca. My scores are just horrible though. TU 616 EQ615 EX638