How much influence do you think medical debt has on credit score?

[saver17]

I had a $1000 debt that was passed on to collections 8 last summer and it has not affected my credit at all. I am still in the 710 to 724 range and was recently approved for a new American Express card. That's why I was thinking medical debt was not a huge factor in determining what your credit score.

What do you think?

[rennigade]

I have no idea how it affects your credit score but debt is debt. You should figure out a way to pay it off as soon as possible.

[bjl584]

I don't think that medical debt is calculated when determining credit scores. If it is, then it isn't weighted heavily.

But as Rennigade said, debt is debt, and you should repay it.

You posted in other threads about an additional $3000 in debt from a stint of unemployment. You also posted about a trip to New York. You should seriously consider putting off the trip and working to increase income to settle this $4000 in debt.

[disneysteve]

I'm not sure how much medical debt counts but it might be enough to be keeping you from having a top-tier credit score.

In your other threads, you've talked about $3,000 in credit card debt and your plan to have that paid off by 7/1. Now you're saying that you just signed up for another credit card. That's the last thing you need. Plus you have this $1,000 debt that you hadn't mentioned, so you're actually $4,000 in debt.

I still don't think you realize what's going on and how the decisions you are making are affecting you.

[saver17]

I'm not sure how much medical debt counts but it might be enough to be keeping you from having a top-tier credit score.

In your other threads, you've talked about $3,000 in credit card debt and your plan to have that paid off by 7/1. Now you're saying that you just signed up for another credit card. That's the last thing you need. Plus you have this $1,000 debt that you hadn't mentioned, so you're actually $4,000 in debt.

I still don't think you realize what's going on and how the decisions you are making are affecting you.

I signed for a new American Express which is going to replace the one I already have

I'm in the process of paying off a medical from last year which started at a $979 and now dowm to $206

I will address that $1000 in the summer after I get the discover card down and the remaining debt from therapy

[bjl584]

I signed for a new American Express which is going to replace the one I already have

I'm in the process of paying off a medical from last year which started at a $979 and now dowm to $206

I will address that $1000 in the summer after I get the discover card down and the remaining debt from therapy

How much debt do you have TOTAL?
Your previous posts painted an incomplete picture.

[disneysteve]

How much debt do you have TOTAL?
Your previous posts painted an incomplete picture.

So we know you ran up $3,000 on your credit card because you didn't work for 3 months.
Now we learn that you have a $1,000 debt in collections.
And we also learn that you had a $979 debt that you're paying on.

It would be nice to see the big picture here. It's really impossible to give any meaningful advice otherwise.

Why do you need an American Express card to replace your Discover card? What's the advantage of doing that? And what will you do with the Discover card? If you close it, you shorten your credit history which will drop your score a bit. You shouldn't be using a credit card at all anyway based on what you've shared so far.

[saver17]

How much debt do you have TOTAL?
Your previous posts painted an incomplete picture.

$2500. I'm not thinking about that $1000 in collection because that involved a lot of confusion. I had a leg issue last year and I thought everything was covered since I have insurance through my employer. So I get this $1000 bill in the mail for the lab work that was done and I was like...huh?

I definitely didn't have no $1000 to give to no hospital that already has billions. And why wouldn't lab work be covered? If that's the case what is the point of having insurance if I have a $1000 bill?

[saver17]

So we know you ran up $3,000 on your credit card because you didn't work for 3 months.
Now we learn that you have a $1,000 debt in collections.
And we also learn that you had a $979 debt that you're paying on.

It would be nice to see the big picture here. It's really impossible to give any meaningful advice otherwise.

Why do you need an American Express card to replace your Discover card? What's the advantage of doing that? And what will you do with the Discover card? If you close it, you shorten your credit history which will drop your score a bit. You shouldn't be using a credit card at all anyway based on what you've shared so far.

The $979 was reduced to $206

[saver17]

So we know you ran up $3,000 on your credit card because you didn't work for 3 months.
Now we learn that you have a $1,000 debt in collections.
And we also learn that you had a $979 debt that you're paying on.

It would be nice to see the big picture here. It's really impossible to give any meaningful advice otherwise.

Why do you need an American Express card to replace your Discover card? What's the advantage of doing that? And what will you do with the Discover card? If you close it, you shorten your credit history which will drop your score a bit. You shouldn't be using a credit card at all anyway based on what you've shared so far.

The American Express is replacing the Amex card I already have because it has more benefits. Not the discover card

[disneysteve]

I'm not thinking about that $1000 in collection

You may not be thinking about it but it is your debt and needs to be dealt with.

So I get this $1000 bill in the mail for the lab work that was done and I was like...huh?
And why wouldn't lab work be covered? If that's the case what is the point of having insurance if I have a $1000 bill?

Those are all questions that you needed to ask when you first got the bill, not months later when the debt has gone to collections. Unfortunately, ignoring it doesn't make it go away. Maybe it was an error. Maybe you had a deductible you hadn't met. Who knows. The only way to find out is to call the lab and find out.

[saver17]

You may not be thinking about it but it is your debt and needs to be dealt with.



Those are all questions that you needed to ask when you first got the bill, not months later when the debt has gone to collections. Unfortunately, ignoring it doesn't make it go away. Maybe it was an error. Maybe you had a deductible you hadn't met. Who knows. The only way to find out is to call the lab and find out.

Yeah you right but I'm just used to everything being covered when I'm employed with health insurance and remember just throwing the bill to the side instead of calling about it.

I usually pay a copay and that's it. Not sure if the slimy hospital that already has billions was trying to get over

[disneysteve]

Not sure if the slimy hospital that already has billions was trying to get over

So it's okay to ignore the bill because you think the hospital already has enough money? I think the bank has enough money too. Does that mean I don't need to pay my mortgage anymore? Now that I think about it, the utility company is pretty successful too. I'm sure they wouldn't mind if I stopped paying my gas and electric bills.

[saver17]

So it's okay to ignore the bill because you think the hospital already has enough money? I think the bank has enough money too. Does that mean I don't need to pay my mortgage anymore? Now that I think about it, the utility company is pretty successful too. I'm sure they wouldn't mind if I stopped paying my gas and electric bills.

I think that bill was overshadow by me getting a letter in the mail letting me know my apt building was sold and my lease won't be renewed.

So finding a new place to live became priority not a medical bill

[disneysteve]

I think that bill was overshadow by me getting a letter in the mail letting me know my apt building was sold and my lease won't be renewed.

So finding a new place to live became priority not a medical bill

Bills don't go to collections after one missed payment. I'm sure you got multiple notices and warnings that you chose to ignore.

Bottom line is you owe this money. Or you need to get it corrected if it turns out it was a mistake.

Or you can just keep making excuses and rationalizations.