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Will this help my credit score?

jjett77
Valued Member

Will this help my credit score?

I have a 2 part questions first is I have my student loans with two different company and they are in deferment until Sept.  I was unemployed and money was  very tight ,some of my bills and to be inback burner... choose car or student loans.I 'am now employed ,making less money then last few years. I'll start paying on my loans next month.However ,as I pay on these loans will it help boost my score ?Second question, I had paid a hospital bill from collection agency about year ago.Ihave all copy's of paid in full!However this collection company called me and said with the same account #that I owe them !I said no I don't HAVE PAID THAT IN FULL I WILL SENT A  Copy and I;ll fax it over pif.Then I check my credit report and the company changer their name three times Call all three  SAME ADDRESS.. SAME PO BOX SAME STATE?????????send them copy's and nothing.I sent all three Equifax, Trans,Experian.They sent me a letter and said it will be removed.Well, that"s a lie!  All  THREE put back on CREDIT REPORTand now the company says u have to pay it!!So, what do I do with this BS???????????HELP!!!!!

Message 1 of 7
6 REPLIES 6
daboss28
Frequent Contributor

Re: Will this help my credit score?

As far as the student loans go pay the minimum... you don't have to pay it down.  Makes very little difference if at all if any fico wise.   You shouldn't necessarily pay it DOWN. Pay what you can AFFORD.   Check to see if you have principle and interest payments and the ratio. Mine were 50/50 i paid mine down no way was i gonna pay the whole amount of the loan twice over. But you're making less money than you were before and may only have the option of staying afloat right now. 

 

As far as fico goes it helps your mix of credit and the tradeline reports paid as agreed whether your paying it down or simply just paying the monthy amount do doesn't matter.  It's only 10% of your score anyway but keep current... do what you can to stay current.

 

As far as the CA goes you should send them a DV letter CMRRR so they can send you a copy of the original creditor.  This is only to match them up with the hospital you think passed the debt to them.  If they do not respond to this you can use the evidence of the reciept to show they did not respond to your request to the credit bureaus.  Also Contact the hospital who you think passed on the debt to them. Another way to confirm they are trying to collect a debt that is already paid.  Tell them you paid in full you are looking for records that they passed the debt to said CA and can they pull back the debt.  They should be willing to work with you since you are paid in full.  At the very least you can get documentation that you are paid in full regarding the debt and the CA does not have the legal right to collect on it.  No reason for you to be paying the same debt twice.

 

The company is clearly trying to shaft u with the name change to duck your counter action.  Any name they use will have to have the original creditor (the hospital) in question and they will not be able to dodge this bullet.

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Message 2 of 7
guiness56
Epic Contributor

Re: Will this help my credit score?


@jjett77 wrote:

I have a 2 part questions first is I have my student loans with two different company and they are in deferment until Sept.  I was unemployed and money was  very tight ,some of my bills and to be inback burner... choose car or student loans.I 'am now employed ,making less money then last few years. I'll start paying on my loans next month.However ,as I pay on these loans will it help boost my score ?Second question, I had paid a hospital bill from collection agency about year ago.Ihave all copy's of paid in full!However this collection company called me and said with the same account #that I owe them !I said no I don't HAVE PAID THAT IN FULL I WILL SENT A  Copy and I;ll fax it over pif.Then I check my credit report and the company changer their name three times Call all three  SAME ADDRESS.. SAME PO BOX SAME STATE?????????send them copy's and nothing.I sent all three Equifax, Trans,Experian.They sent me a letter and said it will be removed.Well, that"s a lie!  All  THREE put back on CREDIT REPORTand now the company says u have to pay it!!So, what do I do with this BS???????????HELP!!!!!


 

Paying on the student loan will help with your payment history and AAoA.  An installment loan itself counts only 10% of a FICO score.  If there is a minimum amount due each month, I would pay that to avoid getting hit with late payments.

 

As for the collection account I would file complaints with the FTC and your states AG office.

 

Message 3 of 7
jjett77
Valued Member

Re: Will this help my credit score?

Thanks for the info and where would i get those 2 address for companys?

Message 4 of 7
guiness56
Epic Contributor

Re: Will this help my credit score?

If you mean the FTC and your states AG office you can probably find that online by googling.

 

I know you can file an online complaint with the FTC.

Message 5 of 7
jjett77
Valued Member

Re: Will this help my credit score?

Thank you for you advice it will help.

Message 6 of 7
guiness56
Epic Contributor

Re: Will this help my credit score?

Message 7 of 7
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