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GenXwire's Achievements


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  1. You will re-age the account and lower your credit score for a mortgage, if your looking for a car loan or credit card do the math... Will you really save that much over the next 3.5 years before it falls off?
  2. I'm guessing you work in collections or finance; I help sick kids for a living. Have a nice life.
  3. There are lots of ins and outs of hipaa, and any medical info released, especially a line item bill, to anyone other than the patient, is a hipaa violation, even the spouse. The fact that debt collection companies break federal law to destroy credit profiles and extort money is disgusting friend, not me being a nurse.
  4. This is underhanded, but this is how you can work the situation to your benefit.... In your name, demand all documentation on file at the collection agency and original creditor with line item billing, to prove how they came up with the "amount owed". When they mail it to you in your name, and that documentation has any HIPAA info, literally anything, they just gave you 10K in leverage I actually used this when an evil collection agency tried to ruin both mine and my wife's credit report at the same time. HIPAA laws even apply to spouse's. Once you get the letter addressed to you with your wife's medical info, have HER write the sending party (send CRM) and threaten to take them to small claims court for HIPAA violations for sharing her personal medical info with you (her husband) without her express written consent (unless they agree to write off the line item and remove it from her credit report). It is a slam dunk in court. I am an RN and know all the shady ins and outs of HIPAA. Some would consider this blackmail... but they have to follow HIPAA law...
  5. for a mortgage ... even with FICO 9 (Mortgage companies won't use it for years and years) paying off old debt re-ages the account and actually decreases your score. It's is literally the worst thing you could have done short term, unless you had them stipulate they would cease reporting on the account, or agree to remove the negative line item on your credit report once you pay them.
  6. http://online.wsj.com/articles/fico-recalibrates-its-credit-scores-1407443549?tesla=y 1) Medical Bills have a decreased weight, paid or unpaid. 2) All PAID COLLECTIONS... they no longer re-age and decrease your FICO Instead, all PAID COLLECTIONS = don't factor in your score AT ALL!!!! 3) This new "FICO 9" model will initially be used for Car loans and Credit Cards.... so it will not help you get a mortgage, that is prob. a few years off as the mortgage industry lags by 2 generations of formula's on average. These are the two main changes. This seems like good news, but the average score will go up, so everything will be re-adjusted a 750 FICO today will not get you the same benefits as a 750 FICO yesterday.... Basically gives gives the collection agencies lots of leverage. The good news is, if one has a long history of charged off or unpaid accounts, they can significantly decrease the 7 year window of having bad credit no matter what.
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