How to Remove Medical Bills From Your Credit Report

March 17th, 2010 | Posted in Loan Consolidation

Regardless whether you have medical insurance, all too often medical expenses are exorbitant.

Usually, medical providers turn over outstanding medical expenses to collection companies with the purpose of receiving payment from you.

Medical provider and collection agency alike will make a report of the outstanding dues to your credit report. Of course these histories will then negatively impact your credit score and possibly jeopardize your chances of obtaining future credit.

You will require the following:

Credit report

collection account number

details of medical provider

credit bureau contact information

letter of settlement

deletion letter payment

computer and Internet access

Credit repair service

Step One

Get in touch with the medical provider that you owe and petition a payment for deletion. They might ask for a one time payment from you, and on receipt of payment,the account, in addition to any collection account linked with the unpaid debt, will be deleted from your credit report.

Although you have the option to pay third parties to make a payment-for-deletion arrangement for you, you are able to save yourself a few dollars by drawing up the letter yourself.

It is essential that the agreement is in writing and signed by you and the medical provider.

Step Two

Organize payment arrangements with the collection agency. Let either the medical provider or the collection agency or both know that you a eager to settle the debt.

You can possibly pay off a lump sum settlement or set up scheduled payments. You will require a signed settlement agreement from the collection agency.

The collection agency will normally once payment has been made, pass this information on to the credit bureau agencies in order to update your credit report. You can do this yourself in case the collection agency does not do this for you.

Once the debt registers as paid on your credit report, visit the websites of Equifax TransUnion and Experian and submit an electronic dispute with the credit bureaus to have the debt deleted.

Step Three

Hire a credit repair service, a company that will work toward improving your credit score through getting rid of collections, public records and charge-offs. This is for those who find it impossible to make any kind of payment toward the debt.

There will usually be a company in your region. If you are not aware of one try searching the world wide web.

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