Removing Medical Accounts From Your Credit Report: 3 Steps To Get You Started
by: P. Jenkins
Date: Mon, 15 Mar 2010 Time: 2:09 PM
Medical providers will normally pass on outstanding medical expenses to collection companies with the purpose of receiving payment from you.
Both medical providers, and so too collection agencies, will report the unpaid medical expenses to your credit report. These collection histories will impact negatively on your credit score and impede your ability to get credit.
You will require the following:
Credit report
collection account number
Medical provider contact details
credit bureau contact information
letter of settlement
payment for deletion letter
access to Internet
credit repair service
Step One
Contact and request a payment for deletion from the medical provider to whom you owe the money. Normally a one-time payment is necessary. The account along with any collection account linked with the unpaid debt, is deleted from your credit report on receipt of payment.
You do of course have the option of hiring the services of a third party to make a payment-for-deletion arrangement for you. But writing the letter yourself will save you money.
The agreement must be in writing and must be signed by both yourself and the medical provider.
Step Two
Make payment arrangements with the collection agency. Contact either the medical provider or collection agency and let them know that you would like to pay up the debt.
You can possibly pay off a lump sum settlement or set up scheduled payments. You will require a signed settlement agreement from the collection agency.
The collection agency will normally once payment has been made, pass this information on to the credit bureau agencies in order to update your credit report. You can do this yourself in case the collection agency does not do this for you.
Once the debt registers as paid on your credit report, visit the websites of Equifax TransUnion and Experian and submit an electronic dispute with the credit bureaus to have the debt deleted.
Step Three
Hire a credit repair service, a company that will work toward improving your credit score through getting rid of collections, public records and charge-offs. This is for those who find it impossible to make any kind of payment toward the debt.
You might even be aware of a credit repair company in your region. If not, you might enquire with friends or acquaintances for referrals or search the World Wide Web to find a service.
About the Author
For easy step by step help choose the "37 Days to Clean Credit" program. To get started today, CLICK HERE. Get a totally unique version of this article from our article submission service
Rating: Not yet rated
