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medical bills

Posted on: 02nd Nov, 2006 02:38 pm
I have some outstanding medical bills, my question is that does the outstanding medical bills affect my credit score and does these apprear on the credit report?
If the outstanding bills are turned over to any collection agency then they will be reporting it to the credit reporting agencies as debt being delinquent. After which it will show up on your credit report.
Posted on: 02nd Nov, 2006 02:53 pm
Hi,

Medical bills normally do not show up on the credit report until the time they are sent to any collection agency. If they go to a collection agency, then it will have negative effect on your credit score.

Also after the out standings are reported, the outstanding bill debts will be listed as medical collection. In addition let me tell you that they will stay on the report for 7 years from the date they are reported.
Posted on: 02nd Nov, 2006 03:05 pm
You could very well set a payment plan. Paying them off will not erase them from your report but then these will be marked as paid, and will have a positive entry for other loan providers when they do a check on your report.
J. Larsen
Posted on: 02nd Nov, 2006 04:01 pm
Hi Guest,

Welcome to the forums.

Any unpaid medical bill will not be displayed on your credit report until and unless the hospital or the doctor to whom you owe the money subscribes to any of the credit reporting agencies – Equifax, Experian or TransUnion. The bill will be shown on your report if the debt is turned over to a collection agency which will surely report it to any of the reporting agencies.

However, if you can dispute the validity of the debt within 30 days after you are notified that you owe it, a creditor or debt collection agency will place the account on your credit report with a notation that you dispute owning the debt.

Once the medical bill is shown on your credit report, you can agree to pay the debt and negotiate with the creditor or the collection agency to have the account removed from your report. It is better that you make an agreement in writing which states that after you pay off the debt, the creditor or the agency will report it to the credit reporting agency so that your report will be updated accordingly.

Thanks,

Caron.
Posted on: 02nd Nov, 2006 07:54 pm
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