To “dispute a collection account” find an error or inaccuracy which includes dates, amounts, duplicate reporting and much more. Every piece of information in your credit reports must be accurate. An inaccurate or misleading collection account will lower your credit score. Either because of clerical errors or miscommunication, collection accounts are among the most common…
Has re-aging occurred when a collection agency updates credit reports. Probably not. Collection agencies can update the date of last activity, date reported, and open date but the date the account must be removed from credit reports should not change.
If your insurance company pays a medical collection debt that’s on your credit reports, you can have the medical collection accounts removed from your credit reports under the National Consumer Assistance Plan (NCAP) initiative.
Once a debt is sold to a collection agency you have a chance to settle the debt for a lesser amount, often pennies on the dollar. Most debt collectors just want the money asap.
Credit scores can take a dive if you have duplicate negative information reporting because it appears that you have more DEBT than you actually have
Medical Debt: Most debt has a statute of limitations which means at some point it becomes legally uncollectible. Debt collectors can continue to pursue payment but have no leverage.
Junk debt buyers may be engaging in phantom debt, collecting payments from consumers for debts that are nonexistent. or illegal to collect.
Your debt may be uncollectible. Review your State’s Statute of Limitations on how long you can be sued for an unpaid debt.
Medical debt collectors looking to collect on older accounts often don’t have any documentation to prove you owe the debt. It’s important to challenge medical collection accounts. If you want to pay, contact the original medical provider.