topic Re: OC rejected payment; account sent to ca in General Credit Topics

OC rejected payment; account sent to ca

jacq — Sun, 30 Mar 2008 18:53:21 GMT

I have a medical bill that is right at 3K. I sent a payment and the check was returned with a letter stating that they didn't accept payments for less than a certain percent of the balance. I finally was able to get up the payment, sent it in and they deposited. The account is now showing up on my TC as a collec. Since I made the acceptable payment, the collec. account has been updated to reflect the new balance, giving me another recent derog.

I have a copy of the check accepted and deposited by the OC. I called the OC, apparently the account was already turned over to CA, just not reporting. The OC said I can continue to pay them and they will notify the CA of payments. Won't I get a new derog with every payment? I can't afford to PIF right now. Would it be acceptable to contact CA and offer a settlement?

Re: OC rejected payment; account sent to ca

tryingtogetitrightnow — Sun, 30 Mar 2008 20:19:55 GMT

I believe if it's a medical collection then the DOFD will remain the same so it won't make it more recent if you make a payment. Someone can correct me if I'm wrong, though. You certainly can try to do a PFD with the CA for less, but since you made a payment they might not accept less than full payment (can't hurt to try, though).

@jacq wrote:
I have a medical bill that is right at 3K. I sent a payment and the check was returned with a letter stating that they didn't accept payments for less than a certain percent of the balance. I finally was able to get up the payment, sent it in and they deposited. The account is now showing up on my TC as a collec. Since I made the acceptable payment, the collec. account has been updated to reflect the new balance, giving me another recent derog.
I have a copy of the check accepted and deposited by the OC. I called the OC, apparently the account was already turned over to CA, just not reporting. The OC said I can continue to pay them and they will notify the CA of payments. Won't I get a new derog with every payment? I can't afford to PIF right now. Would it be acceptable to contact CA and offer a settlement?

Re: OC rejected payment; account sent to ca

Anonymous — Sun, 30 Mar 2008 20:23:07 GMT

Making payments will not reset the DOFD, but it may reset SOL depending on your state.

To be clear, DOFD determines how long the derog account will report. SOL determines how long a creditor has to file suit.

Re: OC rejected payment; account sent to ca

tryingtogetitrightnow — Sun, 30 Mar 2008 20:25:06 GMT

Yep, and also DOFD determines how "old" the collection is for your score. Like if the DOFD is 3/2006 then it would be considered a collection that is over 2 years old.

@Anonymous wrote:
Making payments will not reset the DOFD, but it may reset SOL depending on your state.

To be clear, DOFD determines how long the derog account will report. SOL determines how long a creditor has to file suit.

Re: OC rejected payment; account sent to ca

Anonymous — Sun, 30 Mar 2008 20:27:41 GMT

@tryingtogetitrightnow wrote:
Yep, and also DOFD determines how "old" the collection is for your score. Like if the DOFD is 3/2006 then it would be considered a collection that is over 2 years old.

@Anonymous wrote:

Making payments will not reset the DOFD, but it may reset SOL depending on your state.

To be clear, DOFD determines how long the derog account will report. SOL determines how long a creditor has to file suit.

That is actually the "Date Assigned" that determines that.

Re: OC rejected payment; account sent to ca

tryingtogetitrightnow — Sun, 30 Mar 2008 20:50:30 GMT

Oh. I thought for medical bills, how recent it was (for scoring purposes) had nothing to do with when it was assigned to a CA. I guess I was wrong. So, just to clarify, the date it is assigned to a CA determines how recent of a CA it is for scoring purposes? So then if it's sold to another CA does that assigned date update to when they received it? Or is it just based off when the first CA was assigned the account? Sorry about that!

@Anonymous wrote:

@tryingtogetitrightnow wrote:
Yep, and also DOFD determines how "old" the collection is for your score. Like if the DOFD is 3/2006 then it would be considered a collection that is over 2 years old.

@Anonymous wrote:

Making payments will not reset the DOFD, but it may reset SOL depending on your state.

To be clear, DOFD determines how long the derog account will report. SOL determines how long a creditor has to file suit.

That is actually the "Date Assigned" that determines that.

Re: OC rejected payment; account sent to ca

jacq — Sun, 30 Mar 2008 20:51:03 GMT

Thanks for the quick reply!

I planned to pay the OC in full as I know this is my debt. This was an ER visit that resulted in surgery, no insurance. Paying has been slow b/c my hours were drastically reduced b/c of light duty. It's been enough just to keep up with my rent!

I had gotten an alert when the CA updated the balance that I had a new derog. Just hated the thought that after all this work I'm still going to be set back with every payment. Whew.

Re: OC rejected payment; account sent to ca

Anonymous — Sun, 30 Mar 2008 22:43:07 GMT

tryingtogetitrightnow wrote:
Oh. I thought for medical bills, how recent it was (for scoring purposes) had nothing to do with when it was assigned to a CA. I guess I was wrong. So, just to clarify, the date it is assigned to a CA determines how recent of a CA it is for scoring purposes? So then if it's sold to another CA does that assigned date update to when they received it? Or is it just based off when the first CA was assigned the account? Sorry about that!

No worries! You're not the only one! I was confused about this for a while, myself.

Yes, unfortunately, any time a collection is passed on from one CA to another and the second CA reports with a new "Date Assigned," FICO will think it's a brand new collection.

Don't shoot the messenger.