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
johnnyjohnjohn

0 Contributions
0 People Helped
I have medical bills already sent to collection agency; should I settle the debt or pay in full?
3 years ago I had some medical bills that I could not pay totaling about $2,150, they were soon sent to a collection agency CMRE financial. On my credit report the 2 accounts are still open and show " CMRE in collections" not the medical provider and is hurting my score very bad.They stopped sending me notices more than a year ago and now I want to fix my credit so I got in contact with them to see my options In paying off the balance owed. They told me my balance actually went up to 2,600 with the interest it accumulated over the 3 years, and like every debt collector was pressuring me to pay in full at the moment. I told him I wanted my account info in writing which he was against saying they've already sent that info out last year.I told him I wanted to evaluate my options before making a payment , one of which I asked him about settling. He said if I was trying to fix my credit, settling would still leave a high negative impact on my credit. So I wanted to see if you guys can help me with honest information on which route i should take. Thanks in advance.

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
5038 Contributions
1134 People Helped

Unpaid Collection-Paid Collection-Settled Collection are all collections!!! They will be scored the same way!! It doesn't matter which status of collection you have, scoring-wise they are all the same BAD. The only time that a paid or settled collection is better is when your credit reports are under manual review and that seldom happens any more, usually a computer system will make a decision.

___________________________________________________________________________________________________________________________

The only thing that would truly help you is to get the collection COMPLETELY REMOVED from your reports. When possible that is done by a "Pay For Delete Agreement". Do some reading on that.

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.