Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
DavidSt17

1 Contribution
0 People Helped
How will a medical debt affect my credit score
I am 23 years old, have no late payments, and I have a credit score of 747 (according to Equifax on Credit Karma). However, when I was 21, I incurred a $3000 medical bill. My parents and I tried to fight it, because I was uninsured at that time and the hospital had assured them that they would give us financial assistance. Unfortunately they ended up selling the debt to a collector. The collector made one attempt to contact me 18 months ago, and said they would be sending me some information in the mail, which they never did. I didn't hear from them after that until today when they called me again. As of right now it doesn't look like any of this has shown up on my credit scores. My question is, how will this affect my scores if I, 1.) didn't pay it, or 2.) settled with the collector for a lesser amount, keeping in mind that I have no other negative marks on my credit.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7816 Contributions
1501 People Helped

Helpful to 2 out of 2 people

If they placed a collection on your reports this would hurt your credit Big-Time. If you can avoid this happening, I suggest that you do. You can try to negotiate with them now, but be prepared to pay immediately upon an agreement made. It may be tough though to get them to settle for less as they have the leverage here as they have the power to place it on your credit reports. Whether you get them to settle for a lesser amount or have to pay the full amount, make sure that they agree to not place it on your reports in exchange for your payment. And just an FYI, not having insurance is not reason to be exempt from getting billed for medical care.

Reply by
DavidSt17

1 Contribution
0 People Helped

Why hasn't it been placed on my report already? Do they try to collect first before putting it on your report?

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.