@Anonymous wrote:When I was first starting out, for the first year or two I had excellent credit, then I trusted some people and basically let them use my good credit score and they promised to pay and never did. Since then I've had debts just sitting in collections.
I have 12 accounts in collections, though all are rather small. Total is just over 3,000
The largest one is around 1300 and is 6yrs 2 months old. Should I just let that one fall off? I might wait for it to drop then you can settle it for even less depends on the timing of your home loan as you will need to settle it to close most of the time.
The other ones are anywhere from 1-5 years old, the most recent are medical bills. I want these off my credit report ASAP, because I am planning to start looking into buying a house sometime next year.
Medical collections are some of the easiest to get removed from your CRs, here are the steps that you should follow to address them:
1. Call the OC and see if insurance can be billed, (or-rebilled), collections ultimately paid by insurance get removed per new rules that came from CRAs settlement with 22 state AGs. If not then
2. see if you qualify for Charity Care, if not then
3. ask that they recall the collection in exchange for full payment
4. Send the reporting CA a PFD offer
5. Google the HIPAA Process and contact its creator for help, this process cannot be discussed in any forum of myFico.
I have paid 2 of the smaller collections due to the fact they mentioned they request deletion after it is paid in full on their website.
The other ones have very little information, and I just want these gone, I can pay them all off now!
Hauge Associates, Credit Bureau Services, and IC System.
IC System, who has owned my small debt for several years, just updated the open date to 10 months ago? I haven't had contact with any debt collectors for a long time, so I'm not sure why or how they can just change the open date? Sometimes the OCs recall their collectors and assign it to others or if they are a JDB they sell it to another JDB. Open date doesnt really mean anything other than the date the collectors received it they still have to operate from the OCs DOFD as far as the time alloted for it to report. Anything that is updating on a monthly basis is keeping your Fico score depressed so those are the ones to go after first. Welcome to myFico
Any and all advice is appreicated!
@Anonymous wrote:Thank you so much! Just one last question, since I can't do anything on the weekend, if the OC recalls the debt, does this mean that the CA removes the report?
I would assume so, but the system is fairly confusing.
Thank you again!
Yes, what recalling does is remove the collectors collection authority and per CRA rules a collector must have collection authority in order to report a collection account.