Having a collection account reflected in your credit report may pose a threat to your credit score. Once a description of a negative item from your account has reached the credit bureaus, collection companies will start coming after your back. With the pandemic forcing people to choose between food and healthcare bills, you’re more likely to be contacted by creditors.
Medicredit is one of the collection agencies known for purchasing debt from original creditors. Before you even notice their name appearing on your credit report, a representative will immediately contact you. You might have to deal with Medicredit quickly not to worsen the problem at hand. Learn how to remove them from your credit report here:
What Is Medicredit?
Owned by The Outsource Group, Medicredit Corporation is a St. Louis-based collection agency that’s been in the industry for 42 years already. The agency makes a profit by purchasing debts from original creditors. They mainly collect old debts from doctor’s clinics, hospitals, and other healthcare providers.
Once Medicredit owns the debt, they will start demanding and claiming debts from consumers like you. And dealing with debt collectors like them can be a nuisance to your daily life routine. Getting assistance in dealing with debt collectors is an ideal step you may consider. Click to know more: https://www.crediful.com/collection-agencies/medicredit/.
Your Rights Under the Federal Law
Consumer reports have shown that Medicredit has been summoned to court over 20 times already because of violating several FDCPA regulations. You must monitor all your contact with Medicredit to see if the agency has abused any of your consumer rights. File a report if a collector exhibits any of the following actions:
- Using violent or obscene language when communicating.
- Lying about their true identity and the amount you owe.
- Threatening any legal action towards you.
- At work without your consent
- Even after you told them to stop
- Your family, friends, and acquaintances about your debt
What You Can Do After Medicredit Contacts You
Many consumers have complained about how difficult it is to negotiate with Medicredit. After all, the agency can be aggressive when collecting a debt. Even when Medicredit follows all the FDCPA regulations, it might still be uncomfortable for you to be receiving endless messages from them. Below are the steps you can do once Medicredit starts contacting you:
- Strictly Communicate Through Writing
It is essential that you explicitly request that all communication between you and Medicredit must be done through writing. This is to give you tangible proof of any agreements moving forward. You need to send all correspondence through the United States Certified Mail, providing yourself a paper trail to follow.
Debt collectors such as Medicredit make countless promises through phone calls and deny them afterward. To avoid this circumstance, never agree to any phone calls with any collection agencies. This action can also help you dispute debts and claims that Medicredit may use against you.
When communicating with a collection agency, make sure to be always specific. You don’t want to leave anything open for Medicredit to interpret. Remember that you are dealing with sneaky representatives; you must always be on your toes, no matter what.
- Submit a Letter to Validate Debt
Since Medicredit isn’t the original creditor, the agency might not have enough information regarding your debt. Most debt collectors even have inaccurate data in their possession, which gives consumers like you a chance to dispute a debt by requesting a debt validation letter.
You need to do this step within 30 days after your first contact with Medicredit. If the agency doesn’t respond after 30 days, you can file a report to the credit bureaus and demand that the collection account be removed from your credit report.
To verify if the debt is legitimately yours, you have to submit a Section 609 A form to the agency. This form provides you information such as the legal name associated with the debt, the amount owed, and the transaction date. If it turns out to be an invalid debt, you have the right to demand the removal of a collection account from your credit report.
- Negotiate For a Pay-for-Delete Agreement
If Medicredit can prove that the debt belongs to your name, you need to try negotiating for a pay-for-delete agreement with them. This process allows you to pay Medicredit in exchange for a collection account removed from your credit report. Make sure to negotiate with Medicredit and not with the credit bureaus directly.
But, there are instances that the debt will remain on your credit report under a separate name, which the original creditor owns. If placed in this unfortunate situation, you might need to reach out to the original creditor through a different letter.
Collection accounts can make your credit score drop at an all-time low, so dealing with them as quickly as possible is essential. If Medicredit starts calling or sending you emails, follow the steps provided above to settle any cases they might be holding against you.
Senior Outlook Today is your go-to source for information, inspiration, and connection as you navigate the later years of life. Our team of experts and writers is dedicated to providing relevant and engaging content for seniors, covering topics such as health and wellness, finances, technology and travel.