Yes a medical bill is just like any other debt you owe. If you don't pay it they turn it over to a collection agency and not paying it gets reported as a genitive item on your report for 7 years. So your score will take a hit because of this.
I use to have this misconception myself. This is definatly not true. I actually have a medical bill on my account I have been trying to resolve for almost a year. They really do count against your credit. Most medical places have to accept a payment as low as $10. This is showing effort that you are trying to pay and making good effort. Also with a=making a payment of at least that amount they are not allowed to report the debt as a bad one to your credit report. Hope this helped you out. I know how all those medical bills can add up quickly,even with coverage.
Yes, medical bills can affect your credit, if the medical providers report it to the credit bureaus, in case you miss payments. Hence, the best way to build a good credit history is to keep paying your bills on time. This implies to all your bills.
Hi Ross,
Yes a medical bill is just like any other debt you owe. If you don't pay it they turn it over to a collection agency and not paying it gets reported as a genitive item on your report for 7 years. So your score will take a hit because of this.
I use to have this misconception myself. This is definatly not true. I actually have a medical bill on my account I have been trying to resolve for almost a year. They really do count against your credit. Most medical places have to accept a payment as low as $10. This is showing effort that you are trying to pay and making good effort. Also with a=making a payment of at least that amount they are not allowed to report the debt as a bad one to your credit report. Hope this helped you out. I know how all those medical bills can add up quickly,even with coverage.
Hi Ross,
Yes, medical bills can affect your credit, if the medical providers report it to the credit bureaus, in case you miss payments. Hence, the best way to build a good credit history is to keep paying your bills on time. This implies to all your bills.