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I finally decided to get my finances in order and I'm trying to pay off 2 medical debts that are in collections. Both have been in collections since 2013.
The debts as reported on my credit report are $800 and $150 (2 different collections agencies). I have the money to pay that off in full. The debt collection agencies never contacted me that I'm aware (there may have been mail, years ago, but I wasn't organized enough to be going through all of my mail at the time).
Main concerns:
>Should I use the "Dispute your credit report" feature from the Credit Reporting Agencies to get the debt verified first?
>Do I just call the number on my credit report and say "Hey I've got a debt with you that I want to payoff."?
>How do I send payment? I've heard no electronic access to my account and that it should be done by certified check or money order. What about a cashier's check? Best option out of these?
>What if I call them up and they give me some line like "Whoa whoa there buddy, $800 was the original amount, you owe $1200 due to late fees and interest now."
>Do I ask if they can remove it from my credit report (pay for delete)?
>Do I ask for an email to be sent that says the agreed upon amount will satisfy my debt in full? Or a letter?
Any other things I need to be aware of?
Note that I'm not actually planning to negotiate down to a settlement. I'm planning to pay the full $800 and $150.
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>>1456447
what's medical debt?
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>>1456482
I couldn't quite cover the bills I incurred from mandatory penis inspection day
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Anyone? I know you guys have made dumb financial mistakes in the past and probably have some decent advice to impart on me.
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>>1456447
don't trust debt collectors, they'll take your money and say they never got it.
they're not going to report the debt as paid to the credit agencies, so if that's your goal plan on doing it yourself. Which is a monstrous pain in the ass.
They've probably sold the debt or written it off by now, you likely won't be able to find who owns it if anyone. That won't stop the debt collectors from taking your money though.
Even if you get it settled that stuff will still be on your report for years to come.
If you're going to pay them, pay the company that originally provided services, if they still exist. Yes, get a receipt showing the debt is settled, and yes, ask them to remove the debt from your credit report.
they probably won't or can't. That shit doesn't go away unless you contest it with each reporting company. Even then it probably won't go away because you paying it off now doesn't change the fact that you were previously in default. You can't fix that, and you shouldn't be able to. Lenders should know you were in default not long ago. That's what credit reports are for.
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>>1456907
So you think I should start by calling the hospital and asking them if I can pay off the debt directly to them, rather than the collection agency?
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>>1456916
I would.
In my experience your debt will be sold something like 5 times to various debt collectors before it's finally written off. At this point you probably don't legally owe anyone anything.
you're voluntarily paying something you no longer owe in the hopes that they'll voluntarily try to help fix your credit.
which is probably a fool's errand, but your best bet at succeeding is by going to the people you originally owed.
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>>1456927
How would paying off the original creditor (hospital in this case) help get the collection agency to stop reporting the debt, or even update it to say paid?
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>>1457047
it won't.
nothing you do is likely to help.
I was assuming it was the hospital that reported the debt though.
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>>1457052
Ah ok. Each of the 2 debts is being reported by a different collection agency. I realize the pay for delete request is likely to be denied, but I'm going to attempt it anyways.
For payment, does it matter between a cashier's check or a money order?
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>>1457054
call them to find out what they prefer.
just get a freakin receipt.
I can't even remember how many times I've paid off a collection agency and had them deny it.
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>>1457063
Thanks, I will make sure to get one.
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