Budgeting & Saving

How Can I get Rid of Hospital Debt?

Medical collection accounts can be on your credit report for up to seven years from the date you became delinquent, just like any other collection account. The best thing you can do is to pay that debt, if possible.

There are pending changes in the credit reporting system with regard to the way medical collections accounts will be handled. In the future, new medical collections reported to the national credit reporting companies will be held for 180 days before adding them to the credit report. Doing so will ensure it is a legitimate collection account and not the result of a billing error or delay in insurance payment.

The newest scoring systems do not include paid medical collections in the calculation anymore. The medical debt would still in included on the report, but would not be part of the score calculation.

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Join our live video chat every Tuesday and Thursday at 2:30 p.m. ET on Periscope. Rod Griffin, Director of Public Education at Experian, is available to answer your questions live.

Scoped on: 07/07/2016