You hear about credit card debt all the time. What do you do when the debt is medical bills?

Question

Most of my debt consists of medical bill leftovers (the amount after insurance) that has gone to collection. I have not seen anything that deals with those types of bad credit. They say medical is not supposed to affect your credit but it does.

Answer 1

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Answer 2

With due respect, I'm so glad I live in Canada where we have this social medicine (as they do in the UK and in France for that matter).

Answer 3

Medical debt can and will affect your credit.

You can pay as much as you can, even $10 per month on it though and it will stay off your record.

Answer 4

You need to talk with the people at the hospital about setting up some type of payment arrangements.  Somtimes if you agree to pay a certain amount they will take a % off your bill.  As long as you pay on time you shouldn't have to worry about it being sent to a collection agency.

Another suggestion....get a credit card that has 0% interest, roll all of your medical debt onto that card and pay as much as you can every month...when the time comes that 0% is no longer avaliable....roll the balance to another 0%card.  Interest adds up.

Answer 5

Medical debt will absolutely affect your credit. Try to make arrangements with the medical facility to pay it down and then later dispute the medical collections with the credit bureaus, but only after you have paid the facility. Do not pay the collection agency. If the facility says you have to go through the collection agency make sure you negotiate with them to delete off your credit report when payment is made in full.

Answer 6

It is a myth that "medical debt does not affect your credit."  Medical debt is debt like any other.  Try to negotiate a settlement with the collection agencies.  They purchased the debts at a discount from the original providers.

Answer 7

Yes medical debts do affect your credit. There are special medical debt consolidation program available whereby the debt counselor negotiate with your creditors and reduce your payments and then prepare an affordable debt management plan for your wherein you have to pay only one single monthly payment. Thus you can pay off your debts.

Here is the source of a debt consolidation company named http://ezconsolidation.com for your reference who offers medical debt consolidation plan.

Answer 8

Medical does effect your credit but some lenders view them differently. Some understand the difference. That being said though, any negatives effects your score. The good thing about medical bills is, they don't acquire interest, so you can set up a payment plan and not worry about paying extra. You can also call and see if they will settle for less than the amount owed but be aware this is seen as more negative than just paying the whole amount. Really paying off your bad debt is the best thing to do. Credit repair agencies are dishonest and a scam.

Answer 9

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Answer 10

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