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lanapwll

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How likely is that I get Pay to delete/Settlement for med collections?
I plan to send the letter when I know I'll have at more than half of that which will hopefully be in December. The thing is since July it went up 52$. CreditKarma states the "High Balance" was $2,100 and most recent balance is $2800. Every time it rises it seems to lower my credit score or at least that's what CreditKarma is telling me. So with that in mind how likely are they to take a settlement? I'm not looking to buy a house or anything anytime soon. But I don't want to pay it off only for it to impact my credit score the next 5yrs anyways. I'm in my late 20s at most I just want to get to where I don't need my mom to cosign for anything lol.

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The faster you contact the firm to negotiate a settlement  (delete or not) the better for you.   If it is increasing by $52 a month, that's another $104 which is going to be charged.   This is over $300 pear year that it is increasing.   I presume this is the original creditor so you had terms you agreed to which includes late payment fees.  Aren't you glad your Mom did not cosign for this one or she'd be getting a bill any day and it would be on her credit report soon.    While pay for delete does occur, the odds are always against you in these negotiations.  if they feel they have a better than average chance of collecting the full amount through civil action they may not be willing to settle at all.  The less the liklihood of them collecting the better your odds are in the negotiation, delete or not.

Reply by
lanapwll

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Thanks! And it's a med bill from a trip to emergency room plus ambulance, meh. Thanks for tips about settlement and stuff. I don't quite have enough to pay in full if they don't accept the settlement yet.

But if they don't accept the settlement, would I still be able to send them a letter agreeing to pay full amount due as long as they delete it?

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Contact original creditor to see if they are willing to recall the collection, if you pay them directly. Many medical centers/hospitals have some type of payment plan and or charitable care to ease your financial burden a bit, wouldn't hurt to ask... You also want to see if the original creditor sold your debt or only contracted/hired collection agency to collect on their behalf. Because unless it was stated in the original contracts/bills? The debt been sold to collection agency can not tag on extra amount to what was originally owed.

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A lot may depend on how old this debt is.  As is explained in the articles on this site, there is a statute of limitations on collections that varies by state and, the closer you are getting to that date, the more likely they might be to making a settlement.  You might want to read the articles on that topic again for your benefit.

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lanapwll

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Thanks. I'm in California so it's 4yrs, This Nov will make 2 years since the debt went into collections.

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