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 mick
living in perverty
Registered: 07/06/04
Posts: 7,948
Loc: hb, cali
Last seen: 2 hours, 4 minutes
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 Checked out my credit report today 
#15986153 - 03/23/12 04:32 PM (1 year, 1 month ago) |
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I have an old $400-600 bill from an 'F' rated medical collections agency called CMRE, notorious for scamming people out of money. The bill is from 3/2006, and I am pretty certain that in 7.5 years it will be removed from my credit report (in California).
Should I just wait another 2 years to let it disappear, or go into the office to pay these guys off? I dont wanna call them to discuss it, as every review ever written says theyre lowlifes who will yell at you and hound you for money, then not report your payments.
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http://kittiesntitties.tumblr.com/
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "
ChrisWho said: "It's all about the journey, not the destination."
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 Enlil
LIL-9000
Registered: 08/16/03
Posts: 11,449
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Re: Checked out my credit report today [Re: mick]
#15986315 - 03/23/12 05:14 PM (1 year, 1 month ago) |
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Quote:
mick said:
I have an old $400-600 bill from an 'F' rated medical collections agency called CMRE, notorious for scamming people out of money. The bill is from 3/2006, and I am pretty certain that in 7.5 years it will be removed from my credit report (in California).
Should I just wait another 2 years to let it disappear, or go into the office to pay these guys off? I dont wanna call them to discuss it, as every review ever written says theyre lowlifes who will yell at you and hound you for money, then not report your payments.
Paying it will do nothing for you..It will still be on your credit report if you pay it.
California has a 4 year statute of limitations on the debt, so they couldn't get it from you if they tried...and it will be removed from the credit report 7 years from the date of first delinquency...meaning from the original due date of the original debt. This might not be the same as the date the collection accout was opened.
You should dispute this now with the credit bureaus...there is a very good chance that it'll go away now. If not, in 2 years it will.
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Ask a defense attorney
Fuck the Amish
Rail_Gun said, "And those kids in CT deserved to die and I'm glad they're dead. I am glad that the survivors will have to "live with it" too. hahaha"
Listerine said, "i want genocide for most of africa"
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mick
living in perverty
Registered: 07/06/04
Posts: 7,948
Loc: hb, cali
Last seen: 2 hours, 4 minutes
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Re: Checked out my credit report today [Re: Enlil]
#15986540 - 03/23/12 06:14 PM (1 year, 1 month ago) |
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Ok that is what I was wondering. It seems like paying these guys will do more harm than good.
What concerns me is the TransUnion 'condition' status being Jan of 2011. If they keep reporting it so that the condition is always active (2011,2012,etc...), and not derogatory, will it continue to stay on the report after 7.5 years has passed from the original date (3/2006)?
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http://kittiesntitties.tumblr.com/
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "
ChrisWho said: "It's all about the journey, not the destination."
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Enlil
LIL-9000
Registered: 08/16/03
Posts: 11,449
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Re: Checked out my credit report today [Re: mick]
#15986616 - 03/23/12 06:34 PM (1 year, 1 month ago) |
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No...all negative information has to go 7 years from the date of first delinquency...regardless. of the date reported...
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Ask a defense attorney
Fuck the Amish
Rail_Gun said, "And those kids in CT deserved to die and I'm glad they're dead. I am glad that the survivors will have to "live with it" too. hahaha"
Listerine said, "i want genocide for most of africa"
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NewfoundFreedom
Manure whore
Registered: 05/06/04
Posts: 1,764
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Re: Checked out my credit report today [Re: Enlil]
#15987790 - 03/23/12 11:43 PM (1 year, 1 month ago) |
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I thought medical debt didn't have an impact on your credit rating.
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Enjoywho
Substance Enthusiast
Registered: 07/06/09
Posts: 6,076
Last seen: 13 days, 6 hours
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I owe 1000 dollars on a credit card. Worst decision I ever made getting that thing. My credit is destroyed. All because I needed to build credit because I had none. Lost my job. After I almost had it payed off. Maxed it out and havent paid on it since.
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"I don't give nothin' to nobody, I just pay the cost to do business." - Riley "Young Reezy"
"The road to hell is paved with good intentions."
"In the days of kings and queens I was a jester."
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Enlil
LIL-9000
Registered: 08/16/03
Posts: 11,449
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Quote:
NewfoundFreedom said:
I thought medical debt didn't have an impact on your credit rating.
You thought incorrectly.
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Ask a defense attorney
Fuck the Amish
Rail_Gun said, "And those kids in CT deserved to die and I'm glad they're dead. I am glad that the survivors will have to "live with it" too. hahaha"
Listerine said, "i want genocide for most of africa"
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NewfoundFreedom
Manure whore
Registered: 05/06/04
Posts: 1,764
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Re: Checked out my credit report today [Re: Enlil]
#15989326 - 03/24/12 12:23 PM (1 year, 1 month ago) |
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Just googled it. It only affects your credit if it goes to 3rd party collections or the debt is reported to credit bureaus. Even then it doesn't affect your credit nearly as much as other forms of debt.
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Enlil
LIL-9000
Registered: 08/16/03
Posts: 11,449
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Quote:
NewfoundFreedom said:
Just googled it. It only affects your credit if it goes to 3rd party collections or the debt is reported to credit bureaus. Even then it doesn't affect your credit nearly as much as other forms of debt.
Google isn't the most reliable source of information...
And the OP already said it went to a collection agency...and yes..it affects as badly as any other collection account.
On top of that, this whole thread is about the OP's credit reports...so...obviously it's been reported to the credit bureaus.
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Ask a defense attorney
Fuck the Amish
Rail_Gun said, "And those kids in CT deserved to die and I'm glad they're dead. I am glad that the survivors will have to "live with it" too. hahaha"
Listerine said, "i want genocide for most of africa"
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NewfoundFreedom
Manure whore
Registered: 05/06/04
Posts: 1,764
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Re: Checked out my credit report today [Re: Enlil] 1
#15990391 - 03/24/12 05:18 PM (1 year, 1 month ago) |
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Google isn't a source, it's a search engine. You can use it to find both highly reliable and non-reliable sources.
Medical debt can affect your credit without it going to 3rd party collections, meaning in-house collections, making it not so obvious that it was reported to a bureau.
You are correct about it not having less of an impact than other types of debt. I did some more reading and found that the impact is based on the amount of delinquency, not the type.
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Stonehenge
enthusiast
Registered: 06/20/04
Posts: 3,784
Loc: S.E.
Last seen: 47 minutes, 5 seconds
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Enlil has the correct info. All negative stuff on your credit report drops off after 7 years except for legal actions such as bankruptcy, foreclosure, judgements and evictions. Those hang on for 10 years.
However, even though something is on your record, not all things are equal. The judicial type stuff i mentioned is the worst particularly a bk. Perhaps the next worst is a charge off in which a debt is written off by the lender. Late payments are not that big a deal unless you have a history of them. Being less than 30 days late should not show up at all even if you get charged a late fee.
What potential creditors look for is recent history. An old debt counts for less than a recent one and with years of good payments it looks like the person straightened out their act and they will seldom deny a loan or a job because of a 6 year old debt. But, if you are pretty good about paying but have a late here and there, an eviction within a few years, a charge off, then it looks very bad even if you have made most payments on time and no major problems for a few years. It looks like you are still doing the same things and may default. It goes back to recent history again.
I've heard of people getting a home financed or an unsecured credit card within 2 years of a bk which is the worst. I would say that now days its a little harder because lenders are more cautious about housing but it shows that you can always come back and end up with a sterling credit rating.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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