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Will my collections account show as "paid" if I enter installment agreement?


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#1 CappyJack

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Posted 20 March 2017 - 04:28 PM

I have a medical collections on my credit report. If I make an installment agreement with the collection agency will it show up as "paid" on my credit report? Or something else? 


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#2 Why Chat

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Posted 20 March 2017 - 07:59 PM

It depends on the age of the account and if the reporting CA obtained it directly from the OC health care provider or not.

AT BEST you will get it reported eventually as a paid collection, which is worse for your score than an unpaid one because while it is still a derogatory entry it will be NEWER since it will be dated the date you eventually pay it off.

 

At worst, it will report the balance due after you enter into a new agreement and  will update on your reports as a new collection

 

If you want to get it off your reports follow the guides:

https://whychat.me/GUIDEBOOK.html

 

https://whychat.me/G...AA PROGRAM.html

 

Send each CRA where this (or ANY medical account is reporting) this:

https://whychat.me/hipaadisp.html

 

Did you have any insurance when you incurred this medical debt?? If so, do you have your EOMBs ( explanation of medical benefits) from your insurance Co.??

 

If the account is over 2 years old the reporting CA is most likely a JDB ( junk debt buyer) who has no authority to collect or report.


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#3 CappyJack

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Posted 22 March 2017 - 11:03 AM

Thanks for the advice. This is a collections account that just showed up so resetting the time isn't a big deal. Is there any advantage to paying it?

This account is for my wife, am I still going to be able to follow those guides?

We had insurance and should have EOMBs.


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#4 Why Chat

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Posted 22 March 2017 - 12:17 PM

Get your EOMBs- make sure the amount claimed is accurate-- look for what was BILLED, what was ALLOWED, what was PAID and what ( if anything) is the balance due from the patient.

 

If you find that the amount claimed is accurate, you can pay the health care provider directly with the HIPAA letter insert "a"  AFTER you have opted out and sent the initial dispute letter to the CRAs and received a response from the reporting CA AS A RESULT OF THE INITIAL DISPUTE LETTER. This would be confirmation that the reporting CA has a VALID assignment of the account directly from the OC. ( Sometimes CAs get "left over" data dumps from data miners that include the difference between what was billed and what was allowed-- that would be illegal balance billing)


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#5 CappyJack

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Posted 22 March 2017 - 01:16 PM

Great. Thanks.

For the opting out and everything, do I have to do that? Or does my wife since it was her account?


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#6 Why Chat

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Posted 22 March 2017 - 01:48 PM

Great. Thanks.

For the opting out and everything, do I have to do that? Or does my wife since it was her account?

It would be a VERY good idea for you BOTH to opt out to help prevent future problems.


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