Paying medical bills on credit report.?
Answer:
a paid collection is no better than an unpaid collection, when it comes to credit score
If it is on your report it needs to be paid, anything delinquent will bring your score down.
I'm dealing with this issue just as I type. I'm on the phone with a medical collection agency, and I'm constantly getting the run around about my payment on this bill. Please pay. This can negatively affect your credit score. Recently, a friend had her checking account "FROZEN" due to two missed payments. She could not make any withdrawals, deposits, etc. and all checks bounced. So, she created another checking account. In other words, make payments with a money order and pay the bill. Pay what's affordable to you. Eventually, they will try to settle the bill, but settle when you're able. I'm still paying my affordable payments from 7 years ago, but I will pay it off one day. Make an attempt to pay, even if it's $15.00, $20.00, $25.00 a month.
The fact is that as long as the report stays in the negative report area of your credit history, it will always have a bad effect on your score.
Paying the bill will not help your score. The creditor will place "paid" on your account, but it will still show collections and/or late payments. It's still a negative report.
The only way you can get this report changed or removed is for the creditor to do it. And once they have your money, you will find them extremely uncooperative in helping you fix your credit.
That is why I recommend to people to negotiate a plan with the creditor. In exchange for payment of the bill, they must agree, IN WRITING to remove the derogatory items from your credit history. Don't pay a dime until you get this letter.
Otherwise, all you are doing is paying off a bill, and it won't help your credit history one bit.
Yes it's a gamble. If the bills are large they may sue you. But for now this should be your course of action.
How to Clean Up Credit Report
http://www.debt-loan-refinance-mortgage-.
Step-by-Step Credit Repair Guide
http://www.debt-loan-refinance-mortgage-.
Paying the bills will never decrease your score. Not paying them definitely will. Once they are paid, they have a lesser effect on your score than if they are not paid at all. Even paying them partially reduces your total debt, so your score can be increased even slightly because you are reducing your debt.
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