Credit

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Medical Bills

If you think you’re immune to damage from a collection account on your credit report because you pay your bill on time, think again. Medical bills that you don’t know about could be hurting your credit, and the odds are not in your favor. An estimated 30 million Americans were contacted by collection agencies for unpaid medical bills in 2010, according to the Commonwealth Fund.

We’ve written extensively about medical bills and the havoc they can create on your credit. You’ve responded by sharing your stories about sky-high bills, insurance processing delays and mistakes, and dealing with collection agencies who collect this type of debt on our blog and in the Credit.com Forum.

Here we pull together our best advice for dealing with these problems.

Unfortunately, some patients are under the impression that medical bills somehow don’t affect their credit, or are treated differently when their credit scores are calculated. That’s simply not true. A single collection account – even for a $15 copay – can cause your score to plummet. Just ask the Cobbs, a couple in Illinois whose plan to refinance their home was derailed when they discovered their credit scores were too low. The cause? A billing snafu resulted in them being sent to collections for several copaysRead rest of article

 

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About jimehr

I am a 20 year member of the Microsoft Community and the former founder of "Compass Computer Group", an award winning Microsoft Managed Partner and one of Microsoft's first SharePoint Partners. Over a period of 13 years, Compass successfully delivered over $50 million in custom solutions for clients such as Warner Bros., Fidelity National, The Salvation Army, CAA, Universal Studios, Westwood Insurance, Chicago Title, Paramount, Paul Hastings Janofsky and Walker, The City of Hope, UCLA, and Microsoft Consulting Services. As Managing Partner and Senior SharePoint Architect at SharePoint Pros, I focus on the design, development, and deployment of SharePoint solutions. I am also a frequent speaker at Microsoft events and SharePoint conferences. Specialties - SharePoint consulting - SharePoint life-cycle management - SharePoint requirements gathering - SharePoint roadmap development - SharePoint best practices - SharePoint adoption - SharePoint governance - SharePoint mentoring and support
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