rbg81
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Location: Greenville, SC
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Will a collection of 10 dollars effect my credit score ?
I owed my doctor 10 dollars and I just received a letter in the mail today informing I had been sent to collections.
I'm livid and freaked out at the same time. I'd gotten a notice saying it was late but was just going to pay the balance down on my next visit.
Should I be worried about anything ?
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Mon Jul 19, 2010 11:08 pm |
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C9Consulting
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While I'm not entirely sure...I believe that any debt that goes on your credit report, no matter how big, will go on your credit score.
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Mon Jul 19, 2010 11:38 pm |
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Credit Money & Life
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This will affect your credit score but you will bring it back in not time. People need to realize that credit scores are not that hard to bring up. Its all about responsibility and staying out of credit card debts will bring it up.
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Tue Jul 20, 2010 12:27 am |
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coaster
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Visit www.myfico.com
It's got info on how credit-scoring is done.
~Tim~
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Tue Jul 20, 2010 4:10 am |
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Creditnet_com
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Yes, a collection of any amount (regardless of amount) will affect your credit score. However, since this is a medical debt, you may have a work around.
First, call your doctor's office and talk to the billing department. Ask if your $10 debt has been charged off and sold to a collection agency or if it's simply been assigned to a collection agency. If the debt has been charged off and sold, then the doctor's office has written off the debt as uncollectible and sold the debt to the collection agency for a fraction of the original amount. If this is the case, you should just pay the collection agency in full and then work on getting your credit score back up by making all other payments on time, only using about 1/3 of your total credit, etc.
If the billing department says the account has simply been assigned to a collection agency (this is common in the medical industry), then your doctor's office has entered into an agreement with the collection agency to pay them a percentage of whatever they are able to collect from a list of defaulted patients. If this is the case, then you'll likely need to talk to a billing supervisor and tell them you'd like to work directly with them (not the collection agency) and pay your bill in full. If the supervisor agrees this can be done, then get something in writing from him/her (something to the effect of "We will pull your account from collections in exchange for payment in full") and then pay your debt in full. A regular billing person does not have the authority to pull from collections and may not even know it's possible; this is why you'll need to talk to someone with authority and knowledge of the process. If you neglect to get something in writing, you may pay your balance in full to the doctor's office, but then still show that you have an account in collections! The result is you will no longer be hounded by a collection agency and your credit report will remain untouched.
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Tue Jul 20, 2010 5:14 pm |
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Debt Relief
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If you pay the lousey colleciton agency the $10, before doing so get them to agree IN WRITING that they will remove the account record from your report. Then contact the dentist and have them change the status to Paid as Agreed (not likely) or at least "Settled". Then b*tch them out for turning it over to collections. LOL
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Tue Jul 20, 2010 5:14 pm |
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Stuartthomas
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Joined: 12 Jul 2010
Location: California
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there are a lot things you can do to improve your credit score ...a credit card debt surely would cut down your credit score ..though that matters but you can achive the same ..just keep yourself abstain from the credit card debts..
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Wed Jul 28, 2010 6:05 am |
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