Medical Collections On Your Credit Report
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About Medical CollectionsMedical Collections on your credit report can be devestating to your credit score and should be verified. |
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Can be listed under:
MEDICAL DATA SYSTEMS
MEDICAL DATA SYSTEMS, INC.
MEDICAL DATA SYSTEMS, IN
MEDICAL DATA SYSTEMS, I
MEDICAL FINANCIAL SERVICES
MEDICAL FINANCIAL SVCS
MEDICAL BUSINESS BUREAU
MED BUSI BUR
MED DATA SYS
MED HEALTH FINANCIAL SR
MED HEALTH FINANCIAL SRV
MED PAC
MED REV RECOVERY
MED SHIELD
MED SHIELD COLLECTION
MED1
MED-1 SOLUTIONS COLLEC
MED1 STATE OF MD
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MEDCAH INC
MEDCLEAR
MEDCLEAR INC
MEDCLR INC
MEDCOLMT2
MED-HEALTH FINANCIAL S
MEDI COMM SERVICES
MEDICAL BUSINESS BUREA
MEDICAL BUSINESS CONSU
MEDICAL CENTER OF ARLINGTON
MEDICAL COLLECTIONS
MEDICAL DENTAL BUSINES
MEDICAL EDGE HEALTH
MEDICAL FINANCIAL SERVI
MEDICAL FINC
MEDICAL PAYMENT DA
MEDICAL PAYMENT DATA
MEDICAL RECOVERY SYSTE
MEDICREDIT
MEDICREDIT CORP
MEDICREDIT CORPORATION
MEDICREDIT INC
MEDICREDIT INC - NC
MED-REV REC
MED-REV RECOVERIES INC
MEDSHLD CLCT
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Medical bills come fast and pile up quickly, and if you don't have the immediate cash to pay off what your insurance doesn't (or you don't have insurance) you might find yourself stuck with a Medical Collections on your credit report, throwing your score down the tube.
Why is the medical collection on my credit report?
A collections appears on your credit report as a last resort, put there by the creditor, or by a collections agency that has purchased the debt for pennies on the dollar. The collector will try and recollect what they can on the debt, with the threat of a score-dropping collections always ready to go.
What can I do about it?
Is a medical collections fair? Not always. Remember, the bureaus to not ask for proof of what a creditor or collection agency reports unless you dispute the listing. The burden of accuracy of your personal information is squarely in your hands.
You Can Remove Medical Collections From Your CreditFederal laws give you the right to challenge any item on your credit report that you find is questionable. |
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You can remove any unfair collection by disputing it with the credit bureau where it is listed.
In 1970, Congress passed the Fair Credit Reporting Act that allowed consumers to challenge items on their credit reports they felt were innacurate, misleading, biased, or just unverifiable.
When a dispute letter is sent to the bureaus, it is put through their review process. If the bureaus open an investigation with the creditors, the creditors have 30 days to send proof that the item is accurate and worthy of being on the credit report of the consumer. If they cannot (or will not) provide incontestable proof, then the bureaus are obligated to remove the item.
A "deletion letter" is what you want to get in the mail:
Most consumers who dispute on their own play a guessing game that the bureaus eventually win.
Unfortunately, a great number of dispute letter requests are deemed "frivolous" - which means the bureau will not open up an investigation with the creditor, and a stall letter is sent back to the consumer.
What are my chances of removing Medical Collection from my credit report if I dispute it myself?
There are no real good studies to give accurate numbers of what the results are for people disputing their own credit. It's a guessing game. One statistic to keep in mind is provide by Lexington Law: Over 40% of the people who sign up with Lexington's services have tried to to repair their credit on their own and have turned to the trusted leaders in credit report repair for help.
11,894 Medical Collection Removals Last Year!A record year for the #1 rated credit restoration service |
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Screenshot from Lexington's 2009 Q4 results
Imagine your Medical Collection here. |
Lexington Law clients have removed more Medical Collection credit report listings than anyone.
Since 1991, Lexington has been perfecting the practice of challenging unfair listings with the bureaus and creditors. They've removed millions of negative items and can now put all that expertise into helping you restore your credit.
Do you know how many total collections Lexington Law removed last year? Click here to see >
What are your chances of removal success?
Lexington's average Concord-level participating client removed over 84% of their presenting negative items from all three credit reports.
If you're serious about removing your Medical Collection, do yourself a favor and check out Lexington Law. Over 11,000 people are glad they did.
