New at this and needing advice

[Anonymous]

I just found out that I have 2 emergency room (I think -- it could be ambulance) accounts that are in collections. I believe that these accounts were recently reported to the credit reporting agencies. I received the letter from First National Collection Bureau a few days ago. I have already talked to this company and told them that I would be sending the money orders for the amount I owe. (I didn't find out about this site until I had talked to them). I DO owe this amount and I DO want to pay it since it is my debt, but I have worked hard to get my credit rating back from the abysmal mess it once was and up until maybe 2 weeks ago it was about 690 and I have now signed up for scorewatch and it is now 598! What I would like advice on is about the best way to go about handling this. Let me repeat, I DO owe this and I DO want to pay it. I just want to know what is the best way to go about handling it with either the least damage or the fastest way to get my credit score back up.

Thanks very much in advance for the help.

I forgot to add that these bills are for visits in July and September 2004.

[Anonymous]

The only way paying this are going to help your score is by getting them deleted, if they are showing on your report. Or getting them NOT to report if you pay.

Do you have a certain date to pay by? I'd contact them and try to negotiate a PFD. What is SOL in your state? Do hospital bills in your state have SOL? If past SOL and they realize this, they may be more willing to do a PFD.

[Schoolbuskid]

Very well said sidewinder, yea the only way to get it off your report is to offer a PFD letter if its already on your credit report! Who is reporting also, OC or CA? Most of the time hospitals hire CA to retrieve debts!

[Anonymous]

First let me say thanks for the replies and advice.

Let me reply to your questions line by line:

I told them on the phone that I would pay in the next few days and that was on the 13 of April.

As far as the statute of limitations in Texas, this is what I have been able to find:

"The Texas Civil Practice & Remedies Code provides a 4-year limitations period for types of debt. The SoL begins after the day the cause of action accrues, (Section 16.004 (a) (3))."

I'm not at all sure what "cause of action accrues" means.

The original emergency room visits took place in 2004. (I believe in July and September).

I'm not sure who reported it to the credit reporting agencies but the entity contacting me is a CA.

Lastly, what is a PFD letter? As I said, I am totally new to this. That being said, I SO appreciate the help. Thanks again.

[haulingthescoreup]

Hi, Thresh, look up at the top of this board --there are several threads "stickied" there. Open up "Frequently Requested Threads", and you will find several threads about PFD (= Pay for Delete.)

The idea is that in exchange for paying your account, the CA will agree (in writing, on letterhead, etc etc) to cease reporting the collection to your reports. It seems like people always seem to advise offering a partial payment, but my own feeling is that if the debt is legit, and they haven't piled umpty-zillion bogus fees on it, I would offer the full amount. If they decline, I would counter-offer with less and let them chew on that a bit.

Another one to read up there is Credit Scoring 101, at least the first original post. hth

[Anonymous]

Ok will do that now that I actually have some time to sit down and read through it. Thanks again for the advice.

[Anonymous]

Ok I had posted basically this same original post on a different site and here and after reading both I am amazed at what different replies that I got. The advice I got here was to send a PFD letter and after inquiring on both this at the other forum what a PFD letter was I got a straightforward response here and roasted for even thinking of it on the other site. Let me quote the response I got there and once again ask for feedback on this matter.


"Opt out; You can make one phone call to 1-888-567-8688 [1-888-5-OPTOUT] to opt-out If you have moved in the past few years, try to get your old addresses deleted...Wait 35 days for a FULL response and post back here IN THIS THREAD with your results. DO NOT consider a PFD to any CA, it is $$ down a rathole."




Any feedback or advice would be MOST welcome. Thanks in advance.

Message Edited by Thresh on 04-17-2008 12:56 PM

[atlastontheroad]

Therein lies the (substantive) difference between the "dark side" and myFico. 

I've been both places, I don't feel the need to bathe after reading posts here.  The tenor of this place reverberates with ethics that are absent ...er...ahem....elsewhere.

If you acknowledge it as your debt, what is your bottom line?  

Know your SOL and your objective. 

For me, it's having no debt and having paid what I owe.  YMMV.

atlast...just a waitin' fer a couple accounts to post reduced or zero balances

[Anonymous]

---

@atlastontheroad wrote:

Therein lies the (substantive) difference between the "dark side" and myFico.

I've been both places, I don't feel the need to bathe after reading posts here. The tenor of this place reverberates with ethics that are absent ...er...ahem....elsewhere.

If you acknowledge it as your debt, what is your bottom line?

Know your SOL and your objective.

For me, it's having no debt and having paid what I owe. YMMV.

atlast...just a waitin' fer a couple accounts to post reduced or zero balances

---

You know, that's the best thing I've heard so far. I'm not looking to get out of paying my debt as I AM responsible for it. I'm only trying to get it off my credit report as I have been trying very very hard to improve my credit. I have already talked to the CA and told them that I would pay the debt immediately but that was before I started researching and found this site. I don't know if agreeing to pay is going to mess me up with sending a PFD letter but I'm wondering if I should just include with the PFD letter a letter stating that I was unaware of all the recourses available to me at the time I told them I would immediately pay. As always, any advice or feedback would be most welcome. Thanks for all the wonderful advice and thanks in advance for any further advice or feedback.

Oh yes -- is opting out a good idea? I seem to remember reading somewhere that it will keep CA's from being able to sell your account over and over.

Message Edited by Thresh on 04-17-2008 03:35 PM

Message Edited by Thresh on 04-17-2008 03:36 PM

[atlastontheroad]

---

Thresh wrote:
You know, that's the best thing I've heard so far. I'm not looking to get out of paying my debt as I AM responsible for it. I'm only trying to get it off my credit report as I have been trying very very hard to improve my credit. I have already talked to the CA and told them that I would pay the debt immediately but that was before I started researching and found this site. I don't know if agreeing to pay is going to mess me up with sending a PFD letter but I'm wondering if I should just include with the PFD letter a letter stating that I was unaware of all the recourses available to me at the time I told them I would immediately pay. As always, any advice or feedback would be most welcome. Thanks for all the wonderful advice and thanks in advance for any further advice or feedback.

Oh yes -- is opting out a good idea? I seem to remember reading somewhere that it will keep CA's from being able to sell your account over and over.

Message Edited by Thresh on 04-17-2008 03:35 PM

Message Edited by Thresh on 04-17-2008 03:36 PM

---

You will probably get the advice never to admit to a debt until the CA has validated it, until you know beyond question that it is your debt and that they are legally entitled to collect upon it.  Legally, it's sound advice.

Ethically, I have difficulty saying "not mine" if I suspect that it IS mine - but only to a CA with whome I have never had a business relationship.  And yes, I split that hair, I know. 

However, I would send out the DV letter to the CA.  It disputes, not denies the debt until proven.  If they do, in fact provide proof, whilile a PFD (in my case) would be the best outcome, having it paid and out of your life and conscience is a fine objective as well.

atlast (the preceeding applies to all but Midland, since they're trying to collect on something that was supposedly paid four years ago.  But that, as they say, is a different story.)