Improve Your Credit Score: 3 Steps To Removing Medical Accounts From Your Credit Report
Medical providers will normally pass on unpaid medical expenses to collection companies with the purpose of receiving compensation from you.
Medical provider and collection agency alike will make a report of the outstanding dues to your credit report. Of course these histories will then negatively impact your credit score and possibly jeopardize your chances of obtaining future credit.
Things you will require:
Credit report
collection account number
contact details of medical provider
credit bureau contact information
settlement letter
payment for deletion letter
Internet access
Credit repair service
Step One
Ask for a payment for deletion from the medical provider to whom you owe the money, after making contact with them. They will usually request a one time payment from you, on receipt of which the account and so too any collection account linked with the unpaid debt, is deleted from your credit report.
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.
It is essential that the agreement is in writing and signed by you 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 might be able to pay a lump sum or set up regular payments. A signed settlement agreement will be required from the collection agency
When you’ve made payment, you are able to submit it to the credit bureau agencies to update your credit report if the collection agency does not do so.
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
Avail yourself of the services of a credit repair service. This is for people who are unable to make a payment of any size toward the debt. A credit repair service will attempt to better your credit score through getting rid of collections, public records and charge-offs.
There will usually be a company in your region. If you are not aware of one try searching the world wide web.
CLICK HERE to get a detailed guide to all aspects of improving your credit score. To get clean credit in 37 days CLICK HERE.
categories: credit score,credit rating,getting credit,medical bills,medical insurance,debt consolidation,money matters,advice,finance,self-help,health,education
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