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I just got my CR (first time in years) I went through a medical crisis a year ago. Without knowing medical expenses from all kinds of companies have killed my credit! I was never conntacted, nor do I know what services the CO"s provided nor that I owned them money. Now all of a sudden my credit is ruined. Where do I start????
Pay for delete
RE:Why has the medical companies wrecked my credit?
Just a note I don't have the $ to pay all now! But if I knew the debt was real I would try and make arrangements and pay alittle every month.. So again where do I start
Can you tell us whether the medical bill has been sent to collections or it is still with the company? You can find this in your credit report.
If the bill is still with the hospital, you can come to a repayment agreement and pay it off, but if it is sold to a collection agency you should first get the debt validated from the CA to be sure that the CA has purchased the debt and then repay it through a settlement plan.
Your credit is ruined because the medical bills are reported as delinquent in your credit report. If before paying off the debt, you can make the creditor agree to pay for deletion agreement, the negative items will get removed from your report as soon as you pay off the debt and your credit score would improve. You should always get the pay for deletion agreement in writing from the creditor if they agree to PFD.
Carol and the rest
Thanks for submitting replies. I am sending out Valadation of debt letters and hope to hear from the CA's.
"Can you tell us whether the medical bill has been sent to collections or it is still with the company"
Yet another question- How or why can these people send items to collection without first trying to contact me!!! :twisted: They just put them on my credit report! Now I have to do all this work to fix it!!
What can I about that?? Don't they have to try and send you a bill BEFORE sending it to the CA?
If a debt is not paid for a continuous period of six months, it is considered a bad debt and the creditor sells it off to a collection agency or authorizes the collection agency to collect the debt. The creditors can sell off a debt to a CA as per the Federal law if they want to do so.
Whether the debt is still with the OC or has been sold off to a CA, can be found out from your credit report itself. If the name a CA is listed against the debt, or the CA has sent you a collection letter, then the debt is with the collection agency, else not.