question about getting a mark removed from my credit report

Lloyd Crumlish · #1 08-03-2006, 02:14 PM

i have a 521 dollar bill from a hospital that is on my credit report. i need this gone because i'm in the process of buying a house and while i'm going to be able to buy the house regardless of this bill, i want it to be gone to make things easier in the future.

i just called up the company who owns the debt and they said that they will mark the bill as paid when i send them the payment, but that the mark will remain on my credit report even though i have payed it off.

my questions are:

is there a way to get the mark removed permanently that they are not mentioning on the phone?

is it going to negatively affect my credit score to have the bill marked as paid? like, is it ok to have it on there as long as it's marked paid?

thanks

lloyd

skunkworks · #2 08-03-2006, 02:26 PM

hahaha didn't you make a post as Gorilla about this hospital bill?

Lloyd Crumlish · #3 08-03-2006, 02:28 PM

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hahaha didn't you make a post as Gorilla about this hospital bill?

[/ QUOTE ]

NO LOL

it's a different bill. i'm paying off that one i made a post about because they are letting me pay it off at like 75% of the total value. this bill is for another injury almost 2 years ago.

skunkworks · #4 08-03-2006, 02:31 PM

Jesus christ, are the genital wart removal procedures that expensive? [img]/images/graemlins/tongue.gif[/img]

AntonHeat · #5 08-03-2006, 02:31 PM

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Jesus christ, are the genital wart removal procedures that expensive? [img]/images/graemlins/tongue.gif[/img]

[/ QUOTE ]

lol

Performify · #6 08-03-2006, 02:32 PM

Make the payment. Send a letter (in writing in the mail) to each of the major credit agencies (quick google will find you their addresses) that the debt has been discharged and you'd like the mark removed from your credit report. Its very standard.

crunchy1 · #7 08-03-2006, 02:36 PM

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is there a way to get the mark removed permanently that they are not mentioning on the phone?

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It depends on what you mean by "marked". Credit reports that I've seen in the past have 3 or 4 columns for bills that are '30 days past due', '60 days past due', '90 days past due', '120+ days past due'. These are called: "deliquencies".

If you're past due in one of those categories you can pay your bill - which is good - but it's still going to remain on your report as a creditor that was not payed on time. I believe these go away after a certain period of time (7 years?). I also believe that after a certain amount of time has passed - you may be able to call the company and have them reverse the "mark" on your report to show no deliquencies.

[ QUOTE ]
is it going to negatively affect my credit score to have the bill marked as paid? like, is it ok to have it on there as long as it's marked paid?

[/ QUOTE ]
Yes. Basically - it's better that you pay it. However, future creditors are going to see that you neglected to make a major payment and that will affect your credit score, how much credit you will be able to obtain and also the interest rates associated with those lines of credit.

If this is the only deliquency on your report - I wouldn't sweat it too much. Pay the bill and move on. It will remove itself over time. As long as you have a significant amount of good credit history - this one item shouldn't affect your score too much.

Lloyd Crumlish · #8 08-03-2006, 02:49 PM

thanks guys.

skunkworks · #9 08-03-2006, 02:52 PM

Lloyd,

BTW good to hear you decided to pay back that original bill.

EPIC · #10 08-03-2006, 02:53 PM

If you are buying a house, a letter will be suffice to show the lender as long as the rest of your credit is tip top.

And they can only technically completely remove the "mark" if its a dispute, or proven to be invalid.