My credit score went from 765 to 632. I have 2 hospital bills reported in collections. $953, and $480?

Question

What happened?

Answer 1

its obvious you answer your own question. You owe money and it hurts your credit because your showing you don't handle money responsibly.

Answer 2

After a certain amount of time, hospital bills come off your credit. but it is best to set up some type of payment plan.

Answer 3

Usually, when a collection agency gets a bill they put it on your credit report. The best thing to do is to try and pay it off (when you can, better sooner than later though) either in full or by a payment plan.

It'll take a little bit to go back up to 765 (which is a fab credit score by the way), but as soon as you pay off the bills, your score will begin to go back up. Medical debt sucks but it isn't looked upon as badly by lenders as say, racking up thousands in debt because you splurged on a new car or a vacation. You didn't choose to get sick!

Good luck!!!

Answer 4

Go to  Creditboards.com , they have tons of useful info on credit

Answer 5

set up payments with them or see if they will even settle for less, life will be a lot harder if you dont.

Answer 6

Do you know what your credit score is right now? If you don't you should try this site where you can get a free credit report + score for free!

Answer 7

Ok what you need to do is call up the collection agency and ask them if they can do a pay for deletion.If they say they can tell them that you want it in writing. Ask if you can arrange a payment plan if not you need to even charge it on a credit card but only do that if they accept the payment in full for deletion. It would take you years to have that removed otherwise.

Remember ask for it in writing g they are a collection agency they are lying thieves.

Email me if you want a PFD letter you can send...

Answer 8

You have two bills reported to collections.  That is a serious mark against your credit.  

You will have to resolve those bills quickly and then get the hospital that reported them to remove them from the record if it is possible.  It will take some years to recover the good credit rating you had.  

Answer 9

It went down when you didn't pay and the hospital turned it into collections. Once you pay it, it will still take a while to build your score back up

Answer 10

Before collections you should contact with the hospital for a payment plan .If you do not have insurance the case may be different. Always be cautious about the insurance providers wont pay the hospital the right amount instead they will charge to your bill.Atena insurance is like that.I am paying my 700 $ bill as part payment even though I have dollars  in my hand to pay the bill.

Always be aware that even if you pay the bill then also it will stay on your records for seven years.