mooshmoosh 0 Posted July 30, 2015 Report Share Posted July 30, 2015 I have been working on my credit since this past February. I pulled my credit report again in may I noticed a collection account from a hospital. I never received the initial bill. I called the hospital they told me to contact the debt collector. I called to request an itemized statement. My question is should I settle this as I am in the process of cleaning up a few things before applying for a mortgage. I curious if this stays on as an open collection will it affect the debt to income ratio. I am debt free but this is the only thing dragging down my report. Any advice would be appreciated. I would also like to thank everyone on this site. It has helped me tremendously. Quote Link to post Share on other sites
shellieh98 1,505 Posted August 2, 2015 Report Share Posted August 2, 2015 It will report as a close/settled account. So no to the debt/income ratio. It depends on how old the account is as to how it will affect your score, It shouldn't bring it down if they are already reporting an open collections account. 1 Quote Link to post Share on other sites
mooshmoosh 0 Posted August 4, 2015 Author Report Share Posted August 4, 2015 Thanks for the advice. Quote Link to post Share on other sites
