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Question By
lissajeanne

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should I use a credit card to pay off old medical debt?
I have three old medical debt accounts that I need to pay off (trying to qualify for a mortgage). The total balances are large enough that I don't have the upfront cash to just pay in full, but small enough that I can put on my credit card . Is this something I should do? On one hand, it will get three collections off my credit report but it will increase my credit usage above the 30%.

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Yes you can.... Try to do a "Pay for Delete" so that they will come off your credit report.  Also try to get it paid off as soon as possible because a balance so high will lower your credit score until you pay it down.

Reply by
lissajeanne

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Thanks.  My credit cards are set up on auto-payment so I don't have to worry about missing a payment.  Plus I plan to make additional payments to get it paid down faster.  I'll update as soon as I know the impact on my credit score so others can evaluate if this is a good decision for them.

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