3 Thoughts on How will paying a hospital bill collection affect my credit score?
  1. Reply
    Amanda F
    August 8, 2011 at 4:54 am

    If it was dragging it down and you have no other things against you it should stay about the same unless you do something to raise it back up with a loan or credit card.

  2. Reply
    Etta P
    August 8, 2011 at 5:19 am

    What happens when you pay the collection off is the balance will be reflected as zero. Then as time goes by the collection has less and less effect on your credit score. Add any accounts that you may have or perhaps going to get and the impact is even less. It’s all about percentages. You can have 20 accounts and 1 has a 30day late, this would little to no effect on your score. Creditors do not usually spend the money to update any paid off accounts so after 7 years it will completely purge off the credit report. Below is a website for the federal trade commission that oversees your rights as a consumer under the FCRA. Knowledge is power!
    Great question! Thank you

  3. Reply
    August 8, 2011 at 5:58 am

    Don’t be worried about $ 107 bucks…get a credit card and build your credit back up and you’ll be fine. I worked for banks and high interest loan companies and it was common for us to see unpaid hospital bills. On the next credit report it will show that you paid the bill. A word to the wise though…never skip a payment on a house or mortgage…even pay-day loan companies won’t look at you. Oh ya it also good to have stable job too.

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