Hello all...I am new to the forum and like most have been doing a lot of reading and thinking have an understanding of what needs to be done. One thing that is obvious is that it takes a long time to get things cleared up.
I am in short supply of time and was hoping the experts here can read my scenario and provide some guidance.
I have 3 medical collections on my credit report. 2 from 2006 and 1 from 2010. I live in the state of Virginia. These are currently unpaid and are being reported by the CA.
I recently did the opt out and sent in for verification of addresses. The collection balances are 1045, 100, and 352. I can pay the amounts listed.
My time sensitivity is that I am trying to get student loans for my daughter and they require either a paid in full on these collections or an outright removal. My questions are:
Should I pay the CAs? If I do for expediency sake will that prevent me from getting these removed via the Hippa process? Should I just try and reach out to the OC and try and pay them?
What would you do? I was getting ready to even send out PFD's with the threat of verification.....
Helppppppp!!!
If you have opted out, you can send each CRA this:
If you pay the CA you will, at BEST get a "paid" collection on your reports which will HURT your credit rating more than an unpaid one as it would still be derogatory but would be several years newer.
You will likely get the ones from 2006 deleted with the initial dispute letter, ( providing you have gotten old addresses deleted).
If the 1 from 2010 is verified you can pay the OC with the HIPAA letter insert "a" and provide the student loan office with a copy of the money order and proof it was deposited.
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If you have opted out, you can send each CRA this:
If you pay the CA you will, at BEST get a "paid" collection on your reports which will HURT your credit rating more than an unpaid one as it would still be derogatory but would be several years newer.
You will likely get the ones from 2006 deleted with the initial dispute letter, ( providing you have gotten old addresses deleted).
If the 1 from 2010 is verified you can pay the OC with the HIPAA letter insert "a" and provide the student loan office with a copy of the money order and proof it was deposited.
Thank you Why Chat. You are awesome. I appreciate your time. When you say "if the 1 from 2010 is verified" are you saying I should do a DV with the OC before the Hippa letter or do a DV with the CA? Sorry for the ignorance....