Accounts in collection?

Question

I have 2 medical bills that are in collections since 2003 and my credit report states they will be removed in 2009. Should I pay them off or should I wait for them to fall off in 2009? I'm scared to pay them off and have a "charge off" on my account for an additional 5-7 years when I could have just not paid and it would disappear in 2 years.

Answer 1

Even if they fall off your reports does not mean that the medical provider or collection agency cannot continue to try to collect, or sue.

If you pay it will not re-age the accounts to report for longer than the original legal time limit.

The reporting period and the collecting SOL (if there is a collecting SOL) starts from the date of service.

IF the medical providers receive "any" funding from sources like the fed. government, state or local government, etc., then there may be no SOL defense if it is your only defense.

You have rights under HIPAA to pay the medical providers (in full) and demand that the accounts be pulled back from the collection agencies. The collection agencies then must delete anything they have in their files about the account and remove it from your credit reports.

You might click on my profile and click on the last link I have listed. Do some reading in the medical forum (it is a subforum in the credit forum). If you have any questions about using HIPAA, feel free to ask in the medical forum.

Answer 2

It depends. If it will fall off in 2 years maybe you should just let it fall off. I am surprised that the hospital hasn't already charged off the the medical bills.I doubt the hospital will take you to court. But perhaps they will. If you really feel there is a moral obligation to pay the debt...then perhaps you should.

Answer 3

no, just wait to 2009...

Answer 4

Why not just pay what you owe? It's a unique concept. Try it.