Medical collection

Anonymous · ‎01-18-2016

4 years ago I went to er and didn't pay bill because didn't have job. 9 months ago had no credit. Now have 650 fico score. Started with secured card,have 2 capitol one cards,just got approved for chase freedom with 1200 limit. Goal is in year or so to get. Has sapphire and use the credit card card for downplay mentioned on a card and then pay it off with cash I'll have at the time for the bonus points. With 1 medical collection on my account can I hope to have over 720 score in year or so? I've paid on time on credit card and in full every month. And has been under 5% utilization last 8 months. Can I hope to have a great credit score with the 1 collections if everything else is sound.

takeshi74 · ‎01-19-2016

No idea what you can or cannot get but you'd be much better off with the derog. Take a look at whychat's HIPAA merthod to see if it would be of help to you.

As for the Sapphire, run the numbers (all the way from purchasing through redemption) for your spend and consider redemptions and how the methods you can use will impact rewards value. Make sure you have sufficient spend. Cards with rewards programs like that typically require a large amount of spend. If you don't have sufficient spend a cash back card may be better suited to you.

@Anonymous wrote:
With 1 medical collection on my account can I hope to have over 720 score in year or so? I've paid on time on credit card and in full every month. And has been under 5% utilization last 8 months. Can I hope to have a great credit score with the 1 collections if everything else is sound.

It's never just about score. Your entire credit profile matters. Work on getting that derog removed. It will hold you back.

Anonymous · ‎01-19-2016

It's over 5,000 which don't have right now. It's 4 years old.thought it loses it impact after years.

Anonymous · ‎01-19-2016

Most of the medical collection tricks only work if you actually pay the bill. Maybe someone on here would have some advice about them maybe taking it off while you make payments. Otherwise, you're going to be stuck with it and it's not a small amount. Not sure if that helps.

Anonymous · ‎01-19-2016

Most people that I ask day just let it fall off record and it being almost 4 years old it's a small inpact.

gdale6 · ‎01-21-2016

@Anonymous wrote:
Most people that I ask day just let it fall off record and it being almost 4 years old it's a small inpact.

Only if its not reporting monthly and is actually aging. If its updating monthly its costing you Fico points as it looks brand new to Fico. I will give you the info for progression on settling medical collections.

For unpaid medical debt that is reporting on your CR:

1. Call the OC and see if you qualify for Charity Care
2. If not then ask that they recall the collection in exchange for full payment
3. Send the reporting CA a PFD offer
4. Google the HIPAA Process and contact its creator for help

Anonymous · ‎01-21-2016

It's not reporting. Credit karma says it's off .my official fico shows it hasn't been reported for almost 4 years

Anonymous · ‎01-21-2016

As previously advised google the HIPAA Letter process follow it exactly as it is laid out. If you have any problems finding the website or have questions PM me.