Credit Ding Question

M

MikeyDude

Done
Location
Texas
I've mentioned that my wife had a heart attack back in October. A week after she was released from the hospital she had a major panic attack and went back to the ER - at a different hospital. The ER doctor sent us a bill. They do that. Since we don't have insurance we have been talking with them (and the other 900 doctors) about making payments. They have a record of those conversations. They were working with us. That is confirmed.

Well they sent it to collection! I got a notice from a collection agency about it today asking for the money. I have called the drs billing office and just paid the damn thing (with money I can't really afford).

Does anyone have any idea if this will hit our credit ratings?
 

MikeyDude said:
I've mentioned that my wife had a heart attack back in October. A week after she was released from the hospital she had a major panic attack and went back to the ER - at a different hospital. The ER doctor sent us a bill. They do that. Since we don't have insurance we have been talking with them (and the other 900 doctors) about making payments. They have a record of those conversations. They were working with us. That is confirmed.

Well they sent it to collection! I got a notice from a collection agency about it today asking for the money. I have called the drs billing office and just paid the damn thing (with money I can't really afford).

Does anyone have any idea if this will hit our credit ratings?
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It will not. It won't. Creditors are not allowed to include medical costs when they rate you. Medical costs are 100% exempt.
 
Also, a medical provider will send the amount due to a collection company only as a matter of course. It's built into their system; when their computer sees the amount is unpaid for 30 days or whatever, it transfers to their collection agency automatically.
 
Murrmurr said:
Also, a medical provider will send the amount due to a collection company only as a matter of course. It's built into their system; when their computer sees the amount is unpaid for 30 days or whatever, it transfers to their collection agency automatically.
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Thats what the phone hag said (I'm not angry). I really hope you guys are right. My wive and I both have ratings over 800. We've never had a ding against us.
 
MikeyDude said:
I've mentioned that my wife had a heart attack back in October. A week after she was released from the hospital she had a major panic attack and went back to the ER - at a different hospital. The ER doctor sent us a bill. They do that. Since we don't have insurance we have been talking with them (and the other 900 doctors) about making payments. They have a record of those conversations. They were working with us. That is confirmed.

Well they sent it to collection! I got a notice from a collection agency about it today asking for the money. I have called the drs billing office and just paid the damn thing (with money I can't really afford).

Does anyone have any idea if this will hit our credit ratings?
Click to expand...
On a similar note....did you tell them you are a self-pay??? They sometimes discount if you are uninsured. I have a friend who has health insurance that is advertised by an 800 number. They are considered self pay since I think they are actually reimbursed by the Co. He recently had $80,000 worth of surgery. He told the hospital he was self pay and paid only $60,000!
 
MikeyDude said:
Thats what the phone hag said (I'm not angry). I really hope you guys are right. My wive and I both have ratings over 800. We've never had a ding against us.
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If it does effect your rating, you have a valid complaint. So, if it does, find the law that protects you and then call them and read it to them. They know it word-for-word, but then they'll know you know it, too.
 
Wigglestein said:
On a similar note....did you tell them you are a self-pay??? They sometimes discount if you are uninsured. I have a friend who has health insurance that is advertised by an 800 number. They are considered self pay since I think they are actually reimbursed by the Co. He recently had $80,000 worth of surgery. He told the hospital he was self pay and paid only $60,000!
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Yes I did... as I mentioned, we were talking with them. Negotiating if you will. They have a full record of all calls we made and what we tried to get set up. They offered no discount, just a payment plan. I don't know if my wife had sent them any money. I guess it was their computer that did it... I dunno.
 
Murrmurr said:
It will not. It won't. Creditors are not allowed to include medical costs when they rate you. Medical costs are 100% exempt.
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Not true …it’s paid medical debt that may not count , not just medical debt.

while vantage scores may not include it most Fico scores do include unpaid medical debt .

here is the new laws

  • As of July 1, 2022, paid medical collection debt won’t appear on consumer credit reports. In the past, this debt could have stayed on credit reports for up to seven years.
  • Starting in January 2023, VantageScore® 3.0 and 4.0 models will no longer consider medical collections for credit score calculations.…
  • Starting in 2023, medical collection debt under $500 won’t be included on credit reports.
  • While certain medical debts may no longer appear on credit reports, individuals remain responsible for paying these debts.
 
When I realized the credit bureaus were private profit making businesses selling information they don't guarantee as accurate to other businesses, I quit any business with them, including trying to improve my credit score. I got a low interest fixed rate mortgage from my local bank and the banker said the credit reporting agency had my file wrong showing an address for me I had never heard of and I might want to fix that. I said I don't go down to McDonald's and volunteer to help them cook hamburgers and I'm not going to the credit bureau to help them fix their file on me. If a business rejects me based on erroneous information from the credit bureau, I just move on to the next business. I have such a good credit rating at my local bank, I can buy whatever I want.
 
Accuracy is on you ….you have to review your reports as they only have what those who report send them to compile.

it isn’t up to the bureau to fact check the data they get on you ..that is your job to make sure it is correct as reported to them.

lots of address mix up’s and junior vs senior can happen.

but One thing is certain , not getting misinformation fixed may adversely effect you , including what you pay for home and auto insurance and sometimes whether you get a job , an apartment or even utility services without deposits.

it isn’t just about credit cards and loans that can be effected
 
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I tune in to an email today that says they have refunded the money I paid yesterday. I check the account status and it shows $0.00 balance and it says, "Financial Assistance Write Off" for the full amount.

I wonder how this affects the collection ass-wads and my score.
 
mathjak107 said:
Not true …it’s paid medical debt that may not count , not just medical debt.

while vantage scores may not include it most Fico scores do include unpaid medical debt .

here is the new laws

  • As of July 1, 2022, paid medical collection debt won’t appear on consumer credit reports. In the past, this debt could have stayed on credit reports for up to seven years.
  • Starting in January 2023, VantageScore® 3.0 and 4.0 models will no longer consider medical collections for credit score calculations.…
  • Starting in 2023, medical collection debt under $500 won’t be included on credit reports.
  • While certain medical debts may no longer appear on credit reports, individuals remain responsible for paying these debts.
Click to expand...
Guess I'm behind.
 
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