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Thread: Does this mean I have bad credit?

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    God/dess Roulette's Avatar
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    Default Does this mean I have bad credit?

    I had two hospital bills that didn't get paid on time - annoyingly not my fault - but they got sent to a bill collectors... I dont have any credit cards or anything to have established any credit. Does this mean that I now have bad credit? How can I get good credit if I do have bad credit now? I don't know anything about this stuff except that I'm terrified of credit, even the word scares me... I am trying to get myself set up and more on top of things monitarily and I want to know if this is as bad as i think it probably is. Anyone who can help would be AMAZING!!
    Quote Originally Posted by Alaska View Post
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    Default Re: Does this mean I have bad credit?

    you need a credit report to know for sure! they are easy to get online.

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    God/dess Corgan's Avatar
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    Default Re: Does this mean I have bad credit?

    www.freecreditreport.com sets my mcafee site advisor off, it may be a scam!

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    Default Re: Does this mean I have bad credit?

    yeah don't go there. I would recommend truecredit.com, it cost a little bit but it gives you a pretty accurate score.

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    Default Re: Does this mean I have bad credit?

    everyone's financial transactions wind up being tracked by the credit rating agencies. The most basic of these are utility bills, hospital bills etc. If you are late on payments, reports to that effect negatively impact your credit score.

    Later, if and when you decide to seek a credit based account, i.e. a credit card, a car loan, a home loan etc. the decisions by lenders whether or not to extend credit to you at all, and if they do decide to extend credit how MUCH credit and at what cost (i.e. interest rate), will be based on your credit score. Thus if unpaid medical bills already appear as a black mark on your credit report these WILL affect both your future ability to obtain a credit card, car loan, or home loan, and the terms / interest rates that will be charged.

    I am told that there are basically two time windows that matter a lot with credit reports. Any bad news within 3 years is considered to be indicative of your 'current' financial health. Any bad news within 7 years is considered to be less important, but still indicative of the 'risk factor' you represent for lenders.

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    Featured Member Vamp's Avatar
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    Default Re: Does this mean I have bad credit?

    Quote Originally Posted by Corgan View Post
    www.freecreditreport.com sets my mcafee site advisor off, it may be a scam!

    freecreditreport will sign you up for a monthly program. It is very hard to cancel it and get them to stop charging you.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    Default Re: Does this mean I have bad credit?


    "Have you ever been to American wedding? Where is the vodka, where's marinated herring?" - GB
    "And do the cats give a shit? No, they do not. Why? Because they're cats."-from The Onion

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    Default Re: Does this mean I have bad credit?

    ^ Yes, that is the best one to go to.

  9. #9
    AudreyLeigh
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    Default Re: Does this mean I have bad credit?

    Quote Originally Posted by Vamp View Post
    freecreditreport will sign you up for a monthly program. It is very hard to cancel it and get them to stop charging you.
    Its not automatic. You can just get your one report.

    I AM on the program and love it because I get notices of any inquiries and changes to all three credit reports. Updated credit score (through Experian monthly) I get as many free Experian reports I want and can get my other 2 full reports for a small fee.

    I just like being able to monitor my credit and $13 a month is worth the peace of mind to me.

    Quote Originally Posted by Corgan
    sets my mcafee site advisor off, it may be a scam!
    Its not a scam. Its Experians website.

    Truecredit.com is owned by TransUnion

    AnnualCreditReport.com is the best tho. Its the only true FREE place. I have a really hard time getting into my transunion account there... its a pain to me...

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    Featured Member Vamp's Avatar
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    Default Re: Does this mean I have bad credit?

    Quote Originally Posted by AudreyLeigh View Post
    Its not automatic. You can just get your one report.

    I AM on the program and love it because I get notices of any inquiries and changes to all three credit reports. Updated credit score (through Experian monthly) I get as many free Experian reports I want and can get my other 2 full reports for a small fee.

    I just like being able to monitor my credit and $13 a month is worth the peace of mind to me.



    Its not a scam. Its Experians website.

    Truecredit.com is owned by TransUnion

    AnnualCreditReport.com is the best tho. Its the only true FREE place. I have a really hard time getting into my transunion account there... its a pain to me...
    When I worked at a credit card company people used to call all the time complaining about the charge and said they had tried to cancel. We couldn't cancel it for them and told them to call the toll free number on their statement.

    "When you order your free report here, you will begin your free trial membership in Triple AdvantageSM Credit Monitoring. If you don't cancel your membership within the 30-day trial period, you will be billed $12.95 for each month that you continue your membership."
    http://www.freecreditreport.com/

    So I dunno. I was going on what customers had told me about it.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    Featured Member scorpio's Avatar
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    Default Re: Does this mean I have bad credit?

    Yes, you now have bad credit. Call the collection companies and offer to pay the bill if they send you a paid in full letter. Then send that to all three credit agencies. After that, get a secured card. This means you put some money in an account, like $200-$500, and they issue a credit card with that amount as a credit line. pay any charges on time, and in about one year, your credit will be great and you can get good rates on anything.

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    Default Re: Does this mean I have bad credit?

    Wow, you guys are amaaazing!!!

    Ok so I haven't checked anything yet but I have a problem with one of the agencies... I need to pay them - but they haven't called me in the past few months. I know I owe them... but I don't know how to get in touch with them!!

    Scorpio I don't really understand what you're telling me to do. Send a PIF letter to what three credit agencies? Who do I get a secured card from, the bank?

    With the online credit report thing is there anything I def shouldn't give put as far as personal information goes? I am paranoid about giving out information. Can I get a credit report through my bank? Sorry i feel like a dumb little kid asking all these questions but it's all very intimidating to me.
    Quote Originally Posted by Alaska View Post
    I just got hollered at by a CUTE guy, at dusk, in my car, in gym attire and hair. Word?
    Picaresque is the shit, I loooooves her!!!

    Disclaimer - I DO NOT EDIT MY COMMENTS
    It hate to re-read things I write
    [SIGPIC][/SIGPIC]

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    God/dess Deogol's Avatar
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    Default Re: Does this mean I have bad credit?

    Quote Originally Posted by Roulette View Post
    Wow, you guys are amaaazing!!!

    Ok so I haven't checked anything yet but I have a problem with one of the agencies... I need to pay them - but they haven't called me in the past few months. I know I owe them... but I don't know how to get in touch with them!!

    Scorpio I don't really understand what you're telling me to do. Send a PIF letter to what three credit agencies? Who do I get a secured card from, the bank?

    With the online credit report thing is there anything I def shouldn't give put as far as personal information goes? I am paranoid about giving out information. Can I get a credit report through my bank? Sorry i feel like a dumb little kid asking all these questions but it's all very intimidating to me.

    Dumb is when you so something foolish and know better.

    You're simply learning the rules (made by evil bankers!) to the game right now.

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    Default Re: Does this mean I have bad credit?

    stupid games and rules and and and and I want to throw my toys around!!

    Does the amount you have to pay to creditors determin how bad your credit is, or the time elapsed between when you have to pay and when you actually pay?
    Quote Originally Posted by Alaska View Post
    I just got hollered at by a CUTE guy, at dusk, in my car, in gym attire and hair. Word?
    Picaresque is the shit, I loooooves her!!!

    Disclaimer - I DO NOT EDIT MY COMMENTS
    It hate to re-read things I write
    [SIGPIC][/SIGPIC]

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    Default Re: Does this mean I have bad credit?

    ^^^ a little of both !

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    Default Re: Does this mean I have bad credit?

    Scorpio was saying that you should contact the collectors...have them send you a statement saying that if the full amount due is paid, you will get a letter from them that says this account is paid in full. You send that letter with a copy of a cancelled check to the CRAs. That will update your file.

    HOWEVER, I must disagree here, slightly. You should try to contact the ORIGINAL creditor and see if you can pay THEM off while getting a letter. Paying off the original creditor is supposed to wipe out the collections afterwards. I am not positive on this, so please visit the Credit Boards and ask questions, read, read, read, learn, research and everything before you do anything.

    http://creditboards.com/forums/

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    Default Re: Does this mean I have bad credit?

    FYI ~ My man does mortgages and many mortgage banks will take a crappy credit score IF the score is bad due to medical bills, it can be overlooked. If you are more worried about your credit for general reasons (credit card rates, loans, etc) just pay your consumer credit on time & it will rebuilt. PM me if you have any questions.

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    Default Re: Does this mean I have bad credit?

    ^^^ I would only add that any special 'rules' for overdue medical bills are mostly based on state laws, and can vary hugely from one state to the next.

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    Default Re: Does this mean I have bad credit?

    ok so with the online credit report things is it ok to give them my ssn? I dont like the idea of that. can I get a credit report at my bank??

    Also how do you get in touch with creditors if they don't call you? One of the two bills hasn't been paid because I don't know who to pay or how much I owe because they haven't called... the last time they called I couldn't get to the phone and the number was a private number but the message the woman left didnt give me a number to call. ugh, I hate this poo!!
    Quote Originally Posted by Alaska View Post
    I just got hollered at by a CUTE guy, at dusk, in my car, in gym attire and hair. Word?
    Picaresque is the shit, I loooooves her!!!

    Disclaimer - I DO NOT EDIT MY COMMENTS
    It hate to re-read things I write
    [SIGPIC][/SIGPIC]

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    Default Re: Does this mean I have bad credit?

    Woo hoo!! I just got off the phone with a creditor who told me she expunched my record and that it shouldnt show up on my credit report and I got a confirmation number saying I paid and she's sending me a thingy in the mail saying the charge was expunged!! wooptywhoopjiggawhat?!?! I am sooo happy and now I just have to find out if I can get the other bill expunged as well, which she said they probably will do because it was a medical bill!!

    Also she gave me this number 1.800.888.4213 for TransUnion which will give you a free credit report once a year!! which i think is rad and good to know about!! I want to call them but I feel that I should wait until I get in touch with the other creditors... Oh I am so happy right now.

    Just incase you all wanted to know.
    Quote Originally Posted by Alaska View Post
    I just got hollered at by a CUTE guy, at dusk, in my car, in gym attire and hair. Word?
    Picaresque is the shit, I loooooves her!!!

    Disclaimer - I DO NOT EDIT MY COMMENTS
    It hate to re-read things I write
    [SIGPIC][/SIGPIC]

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