How much do I offer to settle med Coll?

[lessismore2014]

I have an unpaid medical coll that the HIPAA process didn't work for I tried it 2x's with EX and they refuse to budge so I was going to offer the CA an amount to PIF. It's $304 how much should I offer to settle acct? I have a written agreement letter to send first to get it in writing.

[Anonymous]

I had a similar probelm. What I first was dispute it with Transunion, Experian, and Equifax 2 of my 3 medical collections were removed, but the 3rd wasn't and I owed $400 on. When making an over first consider how old the account was in collections? Remember after 7 years it will be removed so the longer the item has been in collection status the better negotiating grounds you have. In my case it was only 2 years, but since most people don't pay there medical bills and company is aware of it they will usually settle for practically anything. My $400 debt was settled for $170. So in your case i would start with 50% and stick to it. No matter what they are going to agree, stays stern in your offer. They will tell you they need to talk to there manager or credit card company and deny your offer. What i said was ok we tried I'll just wait until 7 years are up. And they will see that you are serious and not budging your offer and accept. Remember stay stern but kind. The fact of the matter is the medical company actual don't get any money off the settlement because the SOLD this account to a debt collector so when they tell you the credit card company will only accept a certain amount this is false. The credit card company has nothing to do with this bill anymore. I have alot of experience in negotiating debt as i was success full in increasing my credit substantially in a very short period of time. I hope this helps any more questions please write back. And good luck!

Josh

[lessismore2014]

thank that's what I was thinking offering 1/2

[MarineVietVet]

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@Anonymous wrote:

I had a similar probelm. What I first was dispute it with Transunion, Experian, and Equifax 2 of my 3 medical collections were removed, but the 3rd wasn't and I owed $400 on. When making an over first consider how old the account was in collections? Remember after 7 years it will be removed so the longer the item has been in collection status the better negotiating grounds you have. In my case it was only 2 years, but since most people don't pay there medical bills and company is aware of it they will usually settle for practically anything. My $400 debt was settled for $170. So in your case i would start with 50% and stick to it. No matter what they are going to agree, stays stern in your offer. They will tell you they need to talk to there manager or credit card company and deny your offer. What i said was ok we tried I'll just wait until 7 years are up. And they will see that you are serious and not budging your offer and accept. Remember stay stern but kind. The fact of the matter is the medical company actual don't get any money off the settlement because the SOLD this account to a debt collector so when they tell you the credit card company will only accept a certain amount this is false. The credit card company has nothing to do with this bill anymore. I have alot of experience in negotiating debt as i was success full in increasing my credit substantially in a very short period of time. I hope this helps any more questions please write back. And good luck!

Josh

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You are almost correct about when collections no longer affect your credit.

Here is how and when derogs drop from you CR, and are thus no longer included in FICO scoring.

Monthly delinquencies under an OC account drop at 7 years from their individual date of delinquency. FCRA 605(a)(5). The date of first delinquency (DOFD) has nothing to do with these drop-off dates. They drop from their own individual dates. So look at each prior OC reported monthly derog date, and simply add 7 years.

If the OC subsequently reports their account as a charge off, that is a totally different and additional post to your CR. Their post as a charge-off will remain in your CR for 7 1/2 years from the DOFD on the OC account, which is the first 30-day delinquency you had on the account, and disregards any later 60/90+ delinquencies that followed. That is one single date-certain, and cannot be reset. FCRA 605(c).

If the OC then refers the account for collection, and a CA posts to your CR, the drop-off date of their collection reporting is the same as that of a CO. It is 7 1/2 years from the same DOFD on the OC account, and the CA cannot reset this date. Again, FCRA 605(c).

[LIGHTNIN]

Do you know who owns the account, the CA or the OC? If you don't know contact the OC, and ask if Sold or just assigned.

 If the OC only gives you the CA ph#, then ask to talk with a manager......Be prepared 1st incase the OC still owns the account.

What's the name of the CA ? unless it's a small local CA

Want is the date of medical service? 

Are you Passed SOL? 

Now This is just my experience with medical collections.Both DH and I have chronic illnesses, so we have had a ton of medical bills.

All of our medical collections were still owned by the OC, IMHO is because they are taking the chance you will be back again.Why i says this,

I had a bill with the Ortho dr,haven't seen for 5yrs,and had to pay Before i could be seen the the doctor.

I believe they hold on to the account, because it's better to get 100% of the debt, rather then selling it for pennies on the dollar.

Be careful if you talk with CA's....It's always best to do it in writing!! because if you are within SOL they can take it to court aand win......

That's why it's best Not to talk with the CA's......or at least most of them. 

Good Luck 

[lessismore2014]

This is the account listed, only on my EX report, I have no idea who the original creditor is. Other than going thru the CA to find out I haven't a clue. That is why I want to PFD or should I try pre-HIPAA again? I have another listed with same CA but paid. I was thinking of doing a PFD with the full amount of $304 but only if they delete both accounts. I don't like this CA I dealt with them before and they told me they aren't allowed to delete account just update as PAID. So I don't know what to do with it.

LANCASTER COLLECTIONS 

Address:
 218 W ORANGE ST
  LANCASTER, PA 17603
 No phone number available

Account Number:
166XXXX 

Original Creditor:
MEDICAL          
Status:
Collection account. $304 past due as of Dec 2009. Status Details:
This account is scheduled to continue on record until Nov 2012.
This item was verified and updated on Dec 2009.    (when an inestigation is done this date is suppose to reflect the month and yr of the dispute, this remains unchanged because I disputed in January and they refused to re-investigate so no investigation was done)

Date Opened:
09/2008

 Date of Status:
10/2008

 Reported Since:
10/2008

 Last Reported Date:
12/2009
Type:
Collection Terms:
1 Months 

 Monthly Payment:
$0

 Responsibility:
Individual 
Credit Limit:
$304

 High Balance:
N/A 

 Recent Balance:
$304

 Recent Payment:
$0    
Account History:
Collection as of Dec 2009, Apr 2009, Mar 2009, Feb 2009, Dec 2008, Nov 2008, Oct 2008

[Anonymous]

This account has already been sold to collections, remember you are in the driver seat. Offer 1/2 of the listed balance and request upon payment remove off your report. This works because i have done it, the collection company runs the risk of not being paid so they are not going to hang up the phone without cashing out. Good luck!

Josh

[lessismore2014]

But this CA is hard to deal with, they have already told me they can't delete when I know they can they just don't want to. The same lady I spoke to then is still there now. So it's not like I'll talk to someone different. The other one I have with the same CA was paid directloy to the OC and they refused to remove. I wrote them 2 GW letters over the holidays and no response still on my report. I even sent the HIPAA letter stating they needed to pull the account they said they aren't doing anything wrong they are allowed to report it.

[Anonymous]

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mnegron1969 wrote:

This is the account listed, only on my EX report, I have no idea who the original creditor is. Other than going thru the CA to find out I haven't a clue. That is why I want to PFD or should I try pre-HIPAA again? I have another listed with same CA but paid. I was thinking of doing a PFD with the full amount of $304 but only if they delete both accounts. I don't like this CA I dealt with them before and they told me they aren't allowed to delete account just update as PAID. So I don't know what to do with it.

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Hold on right there! You don't recognize this debt? How do you know it's yours? .

[Conswalla]

I'm having the same problem with Lancaster Collections.  The lady I dealt with is very mean and will not bend on a PFD or a settlement.  I owe $360.00 and offered $180.00 for a deletion.  She said Lancaster doesn't delete any records period.  I don't know what to do now except PIF and hope they update the account accordingly as paid $0 balance.