The medical collection is gone early next year as Medicals under 500 will not be reported. I will give you the steps to handle it now if you wish
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.
@Learning_Tee0225 wrote:Heading towards then end of my 2nd rebuild journey and boy am I a bundle or anxious nerves right now. As of today my rebuild journey looks like the following:
1. Discover IT - 0/$500 CL
2.Open sky (secured) 0/$300 CL
3. Misson bank 0/ $800
4. Merrick bank 24$ /$1000k CL
5. Forever 21 0/$250 CL
Starting scores Current scores
Feb-2022 scores EQ: 568 TU 596 EX 585 Fico 8 scores as of 5/27- EQ: 598 TU 615 Ex 608
I was attempting to look at what a mortgage loan would like for me and thats when i finally got the answer to why my scores would not increase. My friend who is pulled my report in Feb told me that credco advised that i should pay down 3 cards that were showing maxed but closed out - low an behold these were 3 CC accounts that closed but were still reporting maxed out balances of 1k, 1k, 3k - A Capital one card and two NFCU cards that i had defaulted on in 2017 when times were tougher. He told me those cards were making my utlization high regardless of if my other cards were paid to zero! Mind blown lol - In march I decided I needed to ake care of those items because there was no use in rebuiding if these cards were going to continue to be dead weight, too far to fall off and really i wanted to be back in w/ NFCU as well. So long story short - settled w/ Cap one and paid every $$ back to NFCU as of May 19. 2022, reopened my checking account with them and hoping to apply for an auto loan once scores update-
Now I sit here on pins and needles as I wait for eveything to report - As of now, there are only two collection accounts - one medical for $425 and one CC from Commenity that will fall off in 2023 that I dont plan on paying becuse they wont offer a settlement that works with me.
When the payment is updated on my report from my final NFCU payment of 3k - I should have only one card reporting a balance which is the Merrick Bank card. Im just really nervous I need the scores to start moving - i need to get a new car but need to get the best rate. My prior apr was 7.29 when i bought my Acura in 2012 and my scores were worse then now however times are differet. I would also like to visit a possible mortage by next year if not sooner as well - any idea of anything else I can do to help this score jump up?
thanks!
I take it these were charged off? Along with Comenity? Comenity will have to be paid before any mortgage moves. If that was also CO'ed. It isnt helping you having it list with a balance. You can pay off all the other CO's and Comentity will still kill you until its done. Your not going to win against a bank. Get all of them paid/settled. Then scores will change.
I agree with FireMedic. That Comenity CO that you refuse to pay will hold you back until it falls off/gets paid. It'll keep you from getting the best rate on a car and will definitely keep you from getting a mortgage. What is the full amount due/what settlement amount are you looking for?
