I have 12 medical charge offs on my credit report, should I pay them or should I just leave them alone?
602304
juzme is completely wrong, so ignore that nonsense.\n\nLet me clear up a couple facts about credit reporting.\n\nCredit Reporting Agencies will report (or remove) any negative information that the creditor tells them.\n\nThere is no law preventing a creditor from removing his own credit information...even if it is correctly reporting a late or charged off loan.  All they have to do is tell the Credit Reporting Agency to delete it.  Many times they will try to tell you they can't, or that it's illegal.  Believe me, they can do it.  I've read the law...I've had it done for myself and many other's i've worked with.  They are simply either lying or completely ignorant.\n\nNow, that said, there is the trick.  Once the creditor has your money, you have lost all leverage in getting the creditor to delete the negative report.  So, before you pay them a time, get them IN WRITING to agree to remove the information.  \n\nYou need to sit down and work out a serious budget, and find out how much you disposable income you have to pay down these debts.  Then start contacting your creditors and work out a plan.  Ask to have your balance lowered, freeze the interest and late fee payments, and whatever they will do to help you out.  Most times you will get a cold shoulder, other times they will work with you.  Work on paying the bills that most recently went into default, or to those who are offering to help you with your debt.  Then do the best you can.\n\nIf it helps, defaults that are from a medical charge are reported that way on your credit report.  It still looks ugly, and doesn't help your credit score, but if the creditor is actully looking at your credit report and not your score, it may help your situation a little bit.
542555
Here is how the game is played....\n\nIf you pay off your debt, you still have to deal with that negative report on your credit.\n\nPlacing "paid" on it does NOT remove  negative information such as late fees or that it went to collections.  Those who tell you otherwise are lying or ignorant.  I've counsoled many, many people who made the mistake of paying off debts, hopeing to get their credit improved, only to see it barely helped at all.\n\nThe ONLY person who can edit/delete credit information is the creditor to placed that information there.  And it's very unlikely you will get their cooperation once you have paid the debt.\n\nTherefore, before you pay them a dime, get IN WRITING that they will remove all negative information from your credit report.  Don't pay them a dime unless they do!\n\nRemember, you are trying to fix your score.  Why pay them if it's not going to help you out?  \n\nUse the sample letters below and write a negotiation letter.
230485
The standard is 10 years but many creditors stop reporting after 5. But since so many companies are so different it's nearly impossible to give you an absolute answer so if you're not paying your bills then assume that they'll remain on your record for 10 years.\nIf you're served you a) go to court or b) settle with the company. The settlement will be much lower than the actual debt. And not having a job is gonna do you absolutely no good in your argument. The best way to avoid paying the debt (at least in a lump sum) is to pay in very small amounts. As long as you pay something then legally you aren't refusing to pay your debt. But if I were you, I'd get a job and settle with the company. You might be able to talk them into a monthly minimal payment.
296951
"Technically", just the act of using a company Debt Service Company does not hurt your debt rating.  However if they "negotiate" a special payoff amount of say a credit card debt then, yes the "Charged Off" part of the debt will show up as such on your credit report.  How long it stays on your credit report varies from State to State, with the average being about 7 years.
1047438
What you need to do is dispute these reports with the credit bureau.  What they are doing is illegal and if these reports are not removed, you can sue them in small claims court for $1000 for each entry!  <cha-ching$$$>\n\nBut you need to do it right!  So follow these instructions.\n\nSend a dispute letter to the credit bureau listing these entries and point out these are duplicate entries. \n\nThe Bureau will then contact each of the creditors and "verify" that the debts are valid.  If they get no response the report is deleted.  If they respond back and verify the debt, the report stays on your history.\n\nAt the same time, send a "demand to validate" letter to the creditors who are listing these entries.  Demand that they send you copies of contracts, bills, receipts, and anything that was used to calculate what they claim you owe them.  They have 30 days to respond.\n\nIf they do not send this, send another letter to the credit bureau and demand the listing be removed due to "lack of validation".  \n\nMake sure you send all of these letter by certified mail to prove you contacted them.  \n\nIf the listings are still there, file a lawsuit in small claims court.  It's easy and doesn't cost that much.  \n\nI had to do the same thing to get an inaccurate listing removed from my record, and won $1200 for my troubles.  Don't let them push you around!
597588
Paying in full would be best...\n\nBut which ever way you decide..remember this.\n\nYou are trying to clean your credit history.  The only way you can get this negative item removed is for the creditor to do it.  \n\nHaving him put "paid" on your account does NOT remove negative information about delinquency or late payments.  It must show "paid in full, as agreed" or better yet have it removed entirely.\n\nBut once the creditor has your money, it's going to be very difficult to get him to cooperate with you in cleaning your credit.  Once he has your money you have lost all leverage to negotiate.\n\nTherefore, when you call to negotiate a payment plan, demand IN WRITING that they remove the negative information from your report before you pay them a dime!\n\nOtherwise, you will end up with bad credit, plus you will be broke.
1123511
I would first of all go to the hospital and see if they will agree to a payment plan. It is my understanding that as long as you pay, consistenly, something on a bill you can't be taken to court (don't quote me on this)...but my first stop would be the accounting department of the hospital in question.  \n\nAsk them where you can go for help in paying.....Remember, you are not the first patient that can't pay.  Just make sure you don't let any family member co-sign anything to do with this bill.  \n\nLast but not least (and this is the last resort) if you can't get help eitther with the hospital or a govt agency,you couuld declare bankruptcy.....but this is a BIG step and will follow you for, I believe, 7 years.
622345
Joieanew, please tell the whole truth!\n\nIf you pay your bills, you have to hope that the creditor will do something about your negative credit report he placed.\n\nJust placing "Paid in Full" does NOT remove any additional bad marks, such as that it was in collections, or that there were late payments.\n\nTherefore, unless the item is completely deleted, or the entire status is changed to "Paid As Agree, Never Late", you will still have bad marks on your record, and it will still keep your credit score low.\n\nThat is why, if you plan to pay off your debt, make the creditor agree IN WRITING to remove any negative report from your record.  Yes, they can do it.  Yes, it's totally legal.
785892
It will not hurt your credit if you pay off their bill.  If you do not, then it will.  After all you did promise to pay if they do not.
1373
Pay your bills on time.  If bill is over due then pay it.  Even when you have paid all your bills, it takes 7 years for credit to be cleaned out completely.
848512
At this point Amex probably does not even own your account anymore, as for the charge off it will remain on your credit even if you settle the debt. Once it gets to charge off status you can't do anything about that. As far as paying off in installments the collection agency wants it in one lump sum. Their thinking is if you ca pay 1260 you can pay the whole amount.
144666
Absolutely, it does. If you want to get credit, those nasty medical bills need to be paid off. My suggestion would be for you to pick 1 or 2 bills per payday (depending on how much they are) and pay them. After a while, they'll be taken care of, and you will be able to get credit. Good luck!
93115
I wouldn't bother, it's still going to ruin your credit for X number of years- a settled debt is still a bad debt. I settled a credit card debt, and it was on my credit report as a bad debt for 5 years.
275664
Medical bills will not typically show on your credit reports unless you have been sent to collection.\n\nAs the previous poster said go to www.annualcreditreport.com and get all 3 of your credit reports for free.\n\nReview them for accuracy and dispute any item you believe is incorrect. Each investigation will take about 30 days.\n\nGood Luck
916286
in my opinion no because\na. im not enough credit card debt to worry what would happen if i became injured or other\nb. they all do that with free introductory offers that make it easy to forget you are already enrolled when they start charging you\nc. its another form of insurance and IMHo - at least for me but does not pertain to the general public - insurance is a scam. if i bet myself every time i'll be doing just fine
446449
Ok.  When a credit card or whatever charges off your account, it is usually sold to a collection agency.  You will now have 2 reports for the same thing on your credit.  This is ok.  If you have 3, you should contact the credit agency.\n\nYou have 7 years FROM THE LAST PAYMENT MADE before it falls off of your credit.  If it's been a year since your last payment, you have 6 years left, even if it was just charged off this month.  If you have no intention on paying, do not contact the collection agency, it could restart your 7 years.
1111286
Yes.  Charging off is just an accounting term, and most companies do this after a certain period of no payment.  This does not make the debt disappear.  You still owe the debt, so they can sue until the statute of limitations runs out in your state.