Consumers often feel confused about how medical debt affects their credit score. Everyday I get calls from consumers asking if medical debt will count against their credit score. Frequently, they think it won’t. And very often their lender will have told them that. The Truth Medical debt counts against your credit score just like any [...]
Paramount Recovery System is a medical debt collector that often reports on consumers credit reports negatively. Because of the negative credit reporting consumers can be denied a home loan, auto loan, or employment. It is important to resolve and possibly remove this debt collection from a credit report and other databases. Paramount Recovery Systems [...]
NCO Financial Systems, Inc. is a debt collector that often reports on consumers credit reports negatively. Because of the negative credit reporting consumers can be denied a home loan, auto loan, or employment. It is important to resolve and possibly remove this debt collection from a credit report and other databases. NCO Financial Systems, Inc. information [...]
I see medical debt on most credit reports that I review. In fact, we show that medical debt is the cause of over half of our individual cases we are pursuing. Some pointers to resolve your medical debt: 1. Everything is negotiable on your bill. The hospital or doctor maybe able to extend discounts for [...]
I was appalled after reading this article about an Indiana family that was eventually denied housing due to mistake on the credit report from a medical bill that stemmed from a recent heart transplant for their son. Snodgrass said she was sitting in the family’s former home at Christmastime when she received word of an [...]
I came across a recent article written by Evan J. Albright in which he states that medical debt, especially after 2015 will be a good indicator of financial responsibility and should affect where a consumer is loaned money. His argument is based on the passage of the Patient Protection and Affordable Care Act which caps [...]
A New York Times article that ran last Friday highlighted a big shift in VantageScore's predictive model determining a consumer's credit score. From now on it will ignore a debt once it is paid. FICO® has not changed their formula. While I applaud VantageScore's announcement and scoring model change, I am reminded about the confusion [...]
