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Medical Collections Confusion

Valued Member

Medical Collections Confusion

We have begun working on DW's credit and after looking at her reports, TU and EX are reporting close to $33,000 in medical debt. It's about 25 different collections accounts ranging from $48 - $5,000. EQ does not report anywhere near that amount and comes in at $1,625 with only a handful actually reporting.

 

My question is: I've heard from many people that medical debt cannot affect your score but after reading everything on here, I'm now confused about this idea. Can medical debt affect your score or can it not? My next question is: If medical debt can affect your score, what is the best way to start tackling that debt? Should we start by paying the lower accounts showing on all 3 reports? Should we request PFDs?

 

Any advice would be greatly appreciated!

Starting Scores (May 2016): EQ 587/TU 610/EX 596
Current Scores (May 2017): EQ 559/TU 612/EX 581
CreditOne->$550/Capital One QS->$1300/Capital One QS1->$750
VS->$2250/Overstock->$750/David's Bridal->$1700/Express->$1280/Buckle->$500
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2 REPLIES
Community Leader
Super Contributor

Re: Medical Collections Confusion


mrsh2you wrote:

We have begun working on DW's credit and after looking at her reports, TU and EX are reporting close to $33,000 in medical debt. It's about 25 different collections accounts ranging from $48 - $5,000. EQ does not report anywhere near that amount and comes in at $1,625 with only a handful actually reporting.

 

My question is: I've heard from many people that medical debt cannot affect your score but after reading everything on here, I'm now confused about this idea. Can medical debt affect your score or can it not? My next question is: If medical debt can affect your score, what is the best way to start tackling that debt? Should we start by paying the lower accounts showing on all 3 reports? Should we request PFDs?

 

Any advice would be greatly appreciated!


Yes it does affect your scores. But the amount owed is not really relevant, its the number of collections (to a point). PFD's or try the "HIPAA" process - you'll have to google it (whychat hipaa) for information, its a taboo subject here.

Most Recent FICO 8 Scores EX616/TU587/EQ607 01/09/2018 Starting scores 553/485/543 08/25//2017
~~~Credit lines~~~~
SDFCU VISA Secured $250
Discover Secured $200
Message 2 of 3
Highlighted
Valued Member

Re: Medical Collections Confusion

Thank you so much. You answered my question exactly! That's what I was curious about, whether it was the amount or number of collections. If it's the number and not necessarily the amount than I think the first step is to PFD on the small ones that spread across all of the reports.

 

I will look up the "HIPAA" process. I think I've heard/read about it a little bit.

Starting Scores (May 2016): EQ 587/TU 610/EX 596
Current Scores (May 2017): EQ 559/TU 612/EX 581
CreditOne->$550/Capital One QS->$1300/Capital One QS1->$750
VS->$2250/Overstock->$750/David's Bridal->$1700/Express->$1280/Buckle->$500
Message 3 of 3