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Should I pay a debt that has already been reported on my credit?

Discuss the role of Credit Reference Agencies

Should I pay a debt that has already been reported on my credit?

Postby orlondo12 » Sun Jan 29, 2012 8:01 pm

This debt is for $230 from an emergency room visit 3 years ago. They reported the debt to the credit bureau about a year ago. My credit took a negative hit at first but has since gone up and is in good standing. My credit is perfect other than that debt. Now the collection agency is calling again and I am wandering if I should even pay it? It already hit my credit score... what else can they do? It is accruing interest so it has gone up like$30. But I'm wandering what will happen to the debt if I don't pay it? Can they/will they come after me 10 years from now when the debt has substantially gone up due to interest?

TIA
orlondo12
 
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Should I pay a debt that has already been reported on my credit?

Postby bradford » Sun Jan 29, 2012 8:07 pm

This debt is for $230 from an emergency room visit 3 years ago. They reported the debt to the credit bureau about a year ago. My credit took a negative hit at first but has since gone up and is in good standing. My credit is perfect other than that debt. Now the collection agency is calling again and I am wandering if I should even pay it? It already hit my credit score... what else can they do? It is accruing interest so it has gone up like$30. But I'm wandering what will happen to the debt if I don't pay it? Can they/will they come after me 10 years from now when the debt has substantially gone up due to interest?

TIA
Pay it and be done with it. There is no advantage to stalling on it. The interest is building and you risk being sued. They have 7 years to sue and there is no time limit on the collection process.
bradford
 
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Should I pay a debt that has already been reported on my credit?

Postby sargent » Sun Jan 29, 2012 8:15 pm

You can pay it.
Request a pay on delete - hard to do, but they may do this for you.
You pay the bill in full, and they remove it from your reports
Get it in writing first.
This will stay in your reports (damaging them) for a full 7 years in most states
If they sue you, there will court costs, garnishment or asset levy fees tacked on
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