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Medical Bills

a1cellphones
New Visitor

Medical Bills

Do medical bills affect my credit score?  I had a medical bill go to collections and they told us our account is already on our credit report. We paid it that month. Now how badly does this effect my credit? I am trying to improve my credit score, This is the only negitive item reported with in a year, Im also paying my bills on time EX., Mortgage, car payment , student loan.
Message 1 of 7
6 REPLIES 6
Noah_Bodie
Senior Contributor

Re: Medical Bills

Yes, medical bills can get reported on your credit report and it will affect your credit score if it went to collections. How old is this account?
Message 2 of 7
a1cellphones
New Visitor

Re: Medical Bills

It has only been in collections about a month. we mailed out the check yesterday. Will it be a bad hit that it will take a year to recover from
 
Message 3 of 7
okrogius
Regular Contributor

Re: Medical Bills

The second a collection tradeline hits your reports you can count on taking a bad hit. Furthermore, in most cases recovery takes longer than a year if all you're doing is waiting for it to age off.
Message 4 of 7
Noah_Bodie
Senior Contributor

Re: Medical Bills

Message 5 of 7
a1cellphones
New Visitor

Re: Medical Bills

The check was mailed this week. I also have been paying or settling other accounts on my credit report.
Message 6 of 7
Noah_Bodie
Senior Contributor

Re: Medical Bills

Well, if it was paid in full, with no balance remaining, I don't think you have any leverage to do much. It will be on your reports as a paid collection for 7 years. Depending upon the laws in your state, either 7 years from DOLA (Date Of Last Activity) which is when they cash the check, or DOFD (Date Of First Delinquency).
 
However, given that it's a medical bill, getting goodwill from them might prove a bit easier than getting it from a bank.
 
My two cents, for what it's worth, if you aren't planning a major purchase like a car or a house in the next few months, let it lie.  Keep an eye on your credit reports.  It's conceivable it could drop off once they cash the check, or within a month or two thereafter.  Not very likely, but it does on rare occassions happen.
 
If not, you might try goodwilling it in a few months to try and make it go away.
 
At this point, you aren't really as concerned about your scores as you are seeing the collection drop off your reports. One of the Big Three's 3-in-1 credit monitoring services is much cheaper for day-to-day, week-to-week, or even month-to-month, pulling of your reports. I use TransUnion's TrueCredit. It's $11.21, if you sign up via the Walmart Financial Services link.
 
 
Message 7 of 7
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