If you have medical collections on your credit report you need to know your rights, this way you can protect yourself. Millions of American's have medical debt ruining their credit that isn't even theirs! A credit repair company can help you or you can deal with this yourself It will take some time and some knowledge. First thing is to find out the laws that govern collection agencies (Fair Debt Collections Practices Act). When you know your rights & the law you will be prepared & have the knowledge to fight! The first thing you can do is dispute it with the credit bureaus. It may be easy peasy & get removed within 30 days and you're done! If you have legitimate medical collections keep reading! The collection agencies (we'll refer to as CA's) must send you validation. Proper validation is not a print out on their computer or letterhead. It is the original bill from the original creditor (hospital, doctor's office etc.)
If they provide you with the proper validation then you can send them a letter letting them know that you would like to resolve the matter but you would like to get a letter from them on their letterhead stating that they will completely remove the listing from your credit reports with in 10 day (or 30 days) of them receiving your payment. Let them know that once you receive this letter from them on their letterhead you will mail them a certified check or money order within 5 days. This is called PFD (pay for delete).Collections are derrogatory & are listed under the unsatisfactory, derrogatory or negative portion of your credit report. Once a collection is paid it still stays in that derrogatory catagory because it is still a COLLECTIONS, which is bad! Paying collections can actually hurt your credit and damage it more because it makes the activity date more recent. A pay for delete is a win-win for everyone! CA gets the money they are trying to collect, and you get the negative item removed from your credit report once it is paid! If you do not have the money to pay it right now & the CA hasn't been in contact with you you can try disputing it thru the credit reporting agencies and it could possibly be removed.
If you want a professionals help dealing with credit issues look for a credit repair company. Credit repair specialist should be able to look at your credit report and let you know what options you have. credit repair is a wonderful thing, but be careful when choosing a credit repair company. Ask any questions you have, look over any contract & research them! I own Sleb Credit Solutions. We are local to the Kentucky & Indiana area but we serve clients nationwide. Whether you are in Ohio, Florida, New York or California, Utah, North Carolina (well you get the point) give us a call! We are a reputable, trusted company that has proven results and offer a money back guarantee. Check us out at SLEBCREDITSOLUTIONS.COM.
