Improve Your Credit Score: 3 Steps To Removing Medical Accounts From Your Credit Report

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All too often medical expenses are too high, regardless of whether you have medical insurance.

by P.Jenkins

All too often medical expenses are too high, regardless of whether you have medical insurance.

What usually happens is that medical providers pass on outstanding medical expenses to collection companies with the aim of receiving compensation from you.

Both medical providers, and so too collection agencies, will report the unpaid medical expenses to your credit report. These collection histories will impact negatively on your credit score and impede your ability to get credit.

You will require the following:

Copy of credit report

collection account number

contact details of medical provider

Credit bureau contact info

Settlement letter

payment for deletion letter

computer and Internet access

credit repair service

Step One

Contact and request a payment for deletion from the medical provider to whom you owe the money. Normally a one-time payment is necessary. The account along with any collection account linked with the unpaid debt, is deleted from your credit report on receipt of payment.

Although you have the option to pay third parties to make a payment-for-deletion arrangement for you, you are able to save yourself a few dollars by drawing up the letter yourself.

The agreement must be in writing and must be signed by both yourself and the medical provider.

Step Two

Negotiate payment arrangements with the collection agency. Make contact with either or both the collection agency and or the medical provider and make them aware that you wish to pay the outstanding debt.

It is usually possible to either pay off a lump sum or set up a scheduled payment. You will need to obtain a signed settlement agreement from the collection agency.

When you've made payment, you are able to submit it to the credit bureau agencies to update your credit report if the collection agency does not do so.

Once the debt registers on your credit report as having been paid, you will be able to visit the websites of Equifax TransUnion and Experian and there you can submit an electronic dispute with the credit bureaus to have the debt deleted.

Step Three

Avail yourself of the services of a credit repair service. This is for people who are unable to make a payment of any size toward the debt. A credit repair service will attempt to better your credit score through getting rid of collections, public records and charge-offs.

These services can be found on the Internet or by asking around family and friends.

About the Author: Frank Cole

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Improve Your Credit Score: 3 Steps To Removing Medical Accounts From Your Credit Report