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Replies (6)
- Kat Whitman, "Whitman Met"
- Contributions:663
Personally,
I think that collection accounts, once paid, should not show up on reports at all. By all means show the original accounts with lates, but a paid collection should be automatically deleted.
- Chad Melin, "Chad Melin"
- Contributions:113
This is one of many reasons people need to be actively checking their credit scores do make sure their credit reports are correct. Most people only check their credit reports when they are getting ready to make a purchase. I do credit reviews with all our clients every 120 days if they would like one. In todays world credit scores are more important than every with tightening lending guidelines. The credit system needs to have some type of change. Creditors should not be able to just put collections on peoples credit with out a better system of checks and balances. Credit reports have errors and it is a hard process to get things removed. It should be just as hard for a creditor to put something on someones credit.
- Allan Newman, "Sir Allan"
- Contributions:1231
I might be wrong but I was under the impression that the credit bureaus are privately owned. They seem to be able to do whatever they want and I don't think its fair but what do I know.
- Kevin Hancock, "khancockloans"
- Contributions:24
Collection agencies don't always put the "Fair" in Fair Credit Reporting Act. I think the best advice is to be dilligent and do your best not to wind up on their radar in the first place. Medical is difficult though... especially once insurance billing gets involved.
- FERMI
- Contributions:272
I had a client who was an administrator for a hospital who had a medical collection. She was treated at her hospital, and the hospitals insurance felt the hospitals charges were excessive and only paid part. The billing clerk for the hospital (who worked for her) sent it to collection, and she never knew about it! She was furious. I was happy to point out to her that the hospital does that to hundreds of clients each year. A dispute betwen insurance company and medical provider SHOULD NOT become a consumer credit issue.
- Chad Melin, "Chad Melin"
- Contributions:113
Another problem wit hthe hospitals is the hospital may take a clients insurance but some of the doctors are not covered under your insurance. So some comes in the middle of the night takes some blood or does some lab work on you in the hospital that excepts your insurance then you find out that doctor does not except your insurance or your insurance company does not work with that doctor. If you go into the hospital before checking out get a list of everyone who is going to be billing you for work. Then you have to follow up with all of them. Should people have to do this. No way. But that is what our country has turned into. CYA.
Medical Collections
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- 5.0/5.0
- (1 review)
Contributions:754Does anyone else get frustrated with these? Time and Time again I find my clients have no idea they have medical collections and it seems the hospital/doctors office/ambulatory service, etc etc etc send their bill to your insurance company and if they arent paid with in 30 days they send to collection agency. This has to be adding up to millions of dollars per year charged to clients that get higher rates and fees due to lower credit scores due to what I think are malicious collection practices for medical fees. I just had one that was $28 and only two bureaus were reporting but it dropped the clients score 57 and 83 pts. In todays mortgage market this is killing deals. Can't we include legislation on the bailout bill along with everything else to get this stopped????
Sorry if I posted this in the Mortgage discussion board but its affecting my mortgages!!!
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