How bad do new collections hurt your score? Is it a continuous drop month by month?

[SlyS13]

Ok guys I am in the process of rebuilding my credit. Does a new collection account take points off my score once or every month? Also are medical collections worse or not as bad? I got hit with a bill from my ex wife using my ppo insurance I am having a hard time having her pay for it. I guess Ill have to suck it up and just pay it all. 

Thanks for the info guys.

[Shogun]

No.. it doesn't increase drop your score more each month.  It does it's damage from the start.  If they don't update for awhile, it loses some of its sting, meaning over time it will affect you less and less.

Medical is on par with most other baddies.  There are some newer versions of FICO scores that count them as less, but for the most part, they are the same.  How much is the medical bill?

[SlyS13]

Her bill is 800.00 so I called asking for a payment plan to keep it from going to collections. Still awaiting a call back. I figure I am in the end responsible for anything in my name no matter who did it LOL.

[Shogun]

Sorry about that, but try to settle and try for a PFD. You could tell them it's your ex's bill but if they'd remove it you'd give the m $400.

[SlyS13]

can a PFD be negotiated on the telephone or do I need to do it all via certified mail?

[Shogun]

Either way. Its usually preferable to get it in writing, but if you can negotiate one by phone, go for it!