What's old debt and medical collections!!

Red Phoenix Nation!!! We are growing! More people are reading and following, I love it and I thank you all very much!

Let's get right to the deal today!!! I have people tell me that debt is old, so what is considered old debt? Two-three-four years may be old in your eyes and to most, however it is not old to your creditor. I must remind everyone that old debt doesn't just go away and a lot of those items WILL stay on your credit for 7 years. Then comes the question of: it was with Bank Of America then sold to a collection agency. That can get complex and can depend on dating of the debt, specific dating. We do have a statute of limitations, however I'm not an attorney. If you have debt that you believe is approaching the 5-6 year mark, I would HIGHLY recommend a couple of things to you. ONE: Find out from the collection agency exactly what they are collecting on. Essentially ask them for proof of the debt. For example you can ask them for the original contract and a summary of charges, their license for your state, ect. It may not even belong to you so it is important to find out. If the debt does belong to you its not a bad thing to try and settle. However, if you're having trouble getting answers from them and they become threatening, contact a consumer rights attorney. Often times they will consult with you at no charge and at least let you know your rights.

BOTTOM LINE: GOOGLE ALL YOU WANT! There is no cookie cutter answer, EVERYONE has unique circumstances and you can get burned if you play lawyer so don't be afraid to call one. You're not going to get a bill for a 5-10 minute phone call.


MEDICAL COLLECTIONS!!!! YAY!!! So much, so much medical collections!! Your credit gets pulled and you have medical collections, but it doesn't say who its from. The account reads collection, medical: NP PROVIDER or NA. Some may say that's easy to get deleted! They don't have the creditor!! yay!! WRONG! The reason why the creditor isn't given in most cases is because of HIPAA privacy laws. Can't be giving medical information to third parties, but the bureaus know exactly who it is. So then what? Pay? but pay who?!?! Most know what it is, but if you don't you need to right the bureaus and ask for the contact information of the creditor who owns the account. They will release it directly to you, then it may ring some bells for you.

Here is how medical collections happen in a lot of cases. You go see the Dr. pay your co-pay then you get something that says this is not a bill. It is a simple summary of what the clinic is submitting to the insurance company. That can happen a few times, months go by then you get a bill for anything not covered. By that time, you probably starting throwing them away or not paying attention to them. THEN COLLECTION!!! Happens easy and happens over $28, see it every day. There is help! Don't think you're alone and don't think there is no hope. I put a summery of my story right on my site. Check out if your interested, www.redphoenixco.com

if you need help or have questions, just ask. I'm always around....

john@redphoenixco.com