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If I pay off negative reported debt in full, will it help m

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Subject: If I pay off negative reported debt in full, will it help m
Posted on Wed Feb 13, 2013 1:46 pm  

A year ago I went to the hospital emergency room, and was unable to pay the amount billed at the time. The bill was unfortunately put on the back burner and forgotten over time, so the hospital reported it to a debt collection agency who began reporting it to a credit reporting agency.

I called the debt collection agency and asked them if it would be better to make a payment or pay it off in full. They told me that they are not trained in Credit reporting and how accounts are effected, but they did tell me that they report any debt owed to a credit agency until it is completely paid off. They said I could make payments but they would continue to report the remainder of what I owe.

My question is, will it help my credit rating more if I make a consistent monthly payment, or will it help my rating more if I pay it off in full? My credit rating aside from this is OK. If you have any questions about anything I failed to cover here, let me know.

Joined: 10 Jun 2011
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Posts: 1023

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Subject: Help my credit rating more
Posted on Fri Feb 15, 2013 4:46 am  

Welcome to the forums!!!
If you can afford, then it would be better for you to pay off your debts in full. You credit score will improve if you pay back your all dues asap. You can request the CA to update your account status as “Paid-in-full”.

Subject: Help credit
Posted on Fri Feb 15, 2013 10:35 am  

Thanks for your reply sallynachelle, it's much appreciated.

I have done my research online, as well as take what you have said into consideration, and I have found that paying it off in full is going to be the best course of action. Thanks so much for your help.

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