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If your medical bill/account was turned into a collection agency, don't be so hasty to pay it--
in full, that is.
FIRST, if the bill is old, say 4 or 5 years old. DO NOT work a deal on payment! Your delinquent account will
purge from the system in 7 years, anyway--WITHOUT you paying a dime. By AGREEING to make payments, you are starting the clock OVER!
Say you have an account that's old and the agency calls you and offers a payment deal. Once you say, "Yes" you RESET the clock and instead of the account being wiped off in three or so years, you've opened up a festering 'wound' and NOW the account shows in BAD status for yet ANOTHER 7 YEARS!
Let it be--unless you plan to buy a house or something.
If you want to pay the agency, DO NOT pay it in FULL!
Offer to pay it at 50%. If the bill is $500, offer $250--and get the agreement IN WRITING
BEFORE you AGREE!
These pains (collection agencies) pay hospitals for YOUR debt. They pay the hospital, doctors, etc. pennies on the dollar for an outstanding debt. THEN, they bug the HELL OUTTA you for the FULL amount.
EX.: They pay the hospital $100 for a $1000.00 outstanding bill. Then, they claim to be collecting FOR
the hospital for the full amount due, of course. In reality, they want to make a profit by getting as much as they can from YOU.
Bargain with them and DON'T agree on ANYTHING over the phone; do it all in writing. When you make the payment, write, "FINAL PAYMENT" in the "for" line at the left corner of your check. ONLY pay by check where you can write it in. INSIST that the record be PURGED ENTIRELY by your last payment, or NO DEAL. VERY important!
Don't just settle the debt; get it in writing BEFOREHAND that you will only make settlement IF the debt AND the delinquency record is WIPED OFF COMPLETELY. You don't want that on your credit record showing satisfied but delinquent for YET ANOTHER 7 YEARS!
If you can, record the conversation but STILL get everything in writing.
I went through a place called texas auto brokers to buy my car in march 2015 and they just recently went out of business and were bought out by another company. The financial company who financed me Spartan financial or americas credit acceptance only takes payments over the phone. Now i still have not gotten my tags. my temp is expired and texas auto brokers wont give me a new temp tag cause they say i am no longer thier account. I called spartan and they said they mailed them out on may 22 2015 but that it should take 7 to 10 business days to get them. So does anyone think this is a little wierd. Oh yeah they told me everytime i made a payment that they would email me my confirmation number for my payments but i just realized today that i wasnt getting them and when i mentioned it to spartan they said its cause they never had my email address. So now looking back i remember when this transition first happened they were always calling to confirm my account and when i would call them back which i did like five times they said they didnt show me in thier system. I dont know its kinds wierd. Anyone know anything about this ??? Thanks
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Don't PAY in FULL- Here's Why
