Posted on: 05th Mar, 2009 07:35 pm
I've been avoiding my credit for too long.
I have about 15k med bills from when I was 18 on my credit report. I do not have a credit score. Because I've never used credit....I talked to a mortage guy, considering trying to get a va loan (I'm in the military) but I don't know what to do about those medical bills. Will they take me to court since they're so high? should I wait 3 more years? If I establish an allotment to pay them off (they're split to several bills) will that make a difference? I mean, I could just put 20$ a month to each of them for the rest of my life, but there's really no point if it won't do anything, and just prolong their existence on my credit report.
The other part is the no credit history. The mortage agent told me that since my wife has good credit that if she adds me to one of her credit accounts it will help my credit. Is this true? will it hurt her credit? Are there other ways of establishing credit?
Thanks in advance
Eric
I have about 15k med bills from when I was 18 on my credit report. I do not have a credit score. Because I've never used credit....I talked to a mortage guy, considering trying to get a va loan (I'm in the military) but I don't know what to do about those medical bills. Will they take me to court since they're so high? should I wait 3 more years? If I establish an allotment to pay them off (they're split to several bills) will that make a difference? I mean, I could just put 20$ a month to each of them for the rest of my life, but there's really no point if it won't do anything, and just prolong their existence on my credit report.
The other part is the no credit history. The mortage agent told me that since my wife has good credit that if she adds me to one of her credit accounts it will help my credit. Is this true? will it hurt her credit? Are there other ways of establishing credit?
Thanks in advance
Eric
Welcome Guest,
As there are pending medical bills on your credit score it will ruin your credit report, if you do not pay them off. Paying off the medical bills can have a positive impact on your credit report.
As you do not have any credit history, it will be difficult for you to get a loan. Yes, your wife can add you to her credit accounts. I don't think it will hurt her credit. However, you can also check out the following page to know more about improving credit:
http://www.mortgagefit.com/credit-rating/credit-repair.html
As there are pending medical bills on your credit score it will ruin your credit report, if you do not pay them off. Paying off the medical bills can have a positive impact on your credit report.
As you do not have any credit history, it will be difficult for you to get a loan. Yes, your wife can add you to her credit accounts. I don't think it will hurt her credit. However, you can also check out the following page to know more about improving credit:
http://www.mortgagefit.com/credit-rating/credit-repair.html
My parents have medical bills from 2001 that they have faithfully been sending in payments every month so they were never put on credit report. IF they were to stop paying would it be able to now go to collections and filed on credit report?
Hi concerned,
Yes, if your parents stop payments now, it would be reported in their credit report and the account will go into collections. It would be better if they can keep on paying the dues and clear off the medical bills.
Take care.
Yes, if your parents stop payments now, it would be reported in their credit report and the account will go into collections. It would be better if they can keep on paying the dues and clear off the medical bills.
Take care.
if they've been making payments faithfully all this time, why stop now? as sara noted, it's only going to hurt if they discontinue at this time.
