Ask MetaFilter questions tagged with finance and credit

Help! Credit card elimination or consolidation?

antipode12 — Sun, 06 Dec 2009 09:31:20 -0800

Help! -- My credit debt is nearly $50,000, my mortgage is upside down by 25% and my fiancee walked out the door a month ago. I can't make my bills. I'm trying to sort out which route to go with the credit cards. A service like CCCS? Or some other route like Credit Elimination? Please help me understand this. Thanks

Give me a better rate and lower my principal NOW

digividal — Fri, 18 Sep 2009 11:26:40 -0800

How to negotiate with a credit card company? Hi, I had some excellent response to a previous question and this is a follow up from that.

I got the recommend book in that thread from Nolo, and I have read most parts of it by now: Solve Your Money Troubles: Debt, Credit & Bankruptcy

Short recap, I recently divorced, ended up with a lot of the credit card dept. I am making minimum payments (barely) and I am not behind, but I am not making any progress on the actual money owed
.
I cannot get equity out of the mortgage I am upside down in.

Now the book, talks about (briefly) negotiating a lower interest rate, lower the principal and such with your credit card companies.

The problem is I am not very good at negotiations, and I have never attempted it before. How does the conversation go?
What are some of the points to hammer on while talking to the credit card company? What is the credit card companies benefit from making concessions to me? Is there a specific department to ask for?

Has anyone in the hive mind done this procedure successfully?

Any advice, would be great.

Is this offer to good to be true.

digividal — Fri, 11 Sep 2009 11:13:25 -0800

Financial filter: I recently received a very fancy mailing from a company in Florida (Trascendental Lending), offering me (due to new government regulations) to consolidate my credit card dept (35K) to a new 5% loan, with much lower payments. This sounds too good to be true so I presume it is? I am recently divorced, and I am having trouble getting the financial ends to meet. I got most of the credit card dept after the divorce.
I am barely able to make minimum payments as it is. All accounts are current though, and I have no late payments.

So one day I got fancy letter from some company in Florida called Trascendental Lending or something close to it, offering to consolidate my credit card dept, allegedly based on some new government program, into a single loan with 5% interest. Which would lower my payments substantially.

Now this offer seems to good to be true, but I really want it to be true. I do not understand why this company would offer 5%-6% loan of 35K which is basically unsecured and without collateral. Unless there is indeed some new government program which makes this feasible.

Can anyone offer advice as to how I might go about consolidating my credit card depth in a reliable way, or other practices that might help me be able to dig myself out of the hole I am in now.

If anyone knows if this offer is legit, or if there are other vendors out there who could make a legit offer.

Does anyone know about new government programs?

How can I get an emergency loan to pay the rent?

Anonymous — Thu, 25 Jun 2009 10:13:24 -0800

How can I get an emergency loan to pay the rent? About a year ago I quit a job to start a business. The business was a website and I correctly assumed that once it was built it would require very little effort to maintain. I figured I was a couple years away from it becoming particularly popular and planned on getting a job (even temping) after it was completed. I had enough money have to be out of work for about nine months after my project was completed. In the first three months I searched for a job and it was pretty hopeless. I got depressed and more or less gave up for a couple months. I, more or less, snapped out of it eventually and have been looking for a job, any job since my needs aren't that great. I just haven't been able to get anything together so far. I don't have any credit cards or any debt. My expenses are low probably just a thousand dollars a month so I don't need a lot and am willing to pay sort of usurious rates if I need to. Calling on friends and family is not an option. What sort of options do I have?

Best Credit Card Deals in US?

~Sushma~ — Thu, 28 May 2009 11:27:25 -0800

What are the BEST credit card offers with values like cash back and other perks? I have excellent credit now, and want to buck up on credit now as I will be losing my job in August. I pay it off monthly. It's time the banks work for ME instead of THEM. Clark Howard was not helpful.

Is paying off an $11k auto loan with a credit card a bad idea?

Anonymous — Thu, 23 Apr 2009 07:31:28 -0800

Tricky car loan situation. I'm thinking about paying off the remainder of a car loan with my credit card. Is this a bad idea? My boyfriend and I have spent over a year trying to figure out the best way to get his car officially titled in his name. He's had the car since 2003 (new) and has been faithfully making (loan + insur.) payments on it. However the loan is completely in his ex-girlfriend's name (and he is listed on her auto insurance). The bank is the title holder, which means that the loan needs to be paid off in order for her to get the title and transfer it to us.

We both have really good credit (mine is over 800, his is above 675), but we also both have significant student loan debt. Consequently, we have repeatedly been turned down for a loan necessary to pay off the ex's car loan (so that she can receive the title and sign it over to us).

Here's the solution I came up with the other day:
1. Draft a contract stating that I will pay off the loan with the bank. When that occurs and the ex receives the title, she will sign it over to my bf (essentially selling the car to him for $1). We all sign.
2. I will draft a second contract, between bf and I, stating the terms of paying back the loan. We both sign.
3. Bf will register and insure himself and the car here in this state (CA), ex-gf will remove him from insurance policy, etc.

I am comfortable taking on this much debt ($11k at 11.99% APY). The car loan rates we were quoted were not any better frankly. My credit card limit allows for this purchase. Also, fyi, the car is not worth nearly that much, but its very reliable. He definitely needs to hold onto it for work, etc.

Leaving the situation as-is is not an option. The current loan is absolutely terrible. He is unable to register or insure the car in this state, or in his name. Its risky to have this situation go on with this sort of liability; I can't legally drive the car ever, and if anything happens to him or the car, it screws over his ex-girlfriend. We'd like to not make this her problem, and just get everything legit.

Is there anything wrong with this plan and/or paying off this loan with a credit card? I am worried about recent reports of people being 'dumped' by their credit card companies. Or other things, like random rate changes. Are these valid concerns, and is there anything else I should be worried about?

Fyi, I am most definitely not worried about making this sort of loan/$$ commitment to my boyfriend. We are in it together, for as long as I can foresee, and things are great. Also, he has borrowed significant money from me in the past and has paid me back on time, every time. This question is about any hidden drawbacks to paying off the loan on a credit card.

How do I get a reasonable loan modification?

ccpearce5 — Mon, 23 Mar 2009 20:14:55 -0800

How do I get a loan modification without ruining my credit? I have heard many conflicting ideas that range from not paying the monthly mortgage to hiring a lawyer to sue. I personally don't need one, but my friend bought two homes over a five year period and both of them were negative amortization loans, so now he has balloon payments that he cannot afford. I'm trying to help him but have gotten conflicting advice.

One lawyer suggested not paying for two months because then mortgage companies know how seriously in trouble you are. I have also heard that if you have too much OR too little money, companies won't bother trying to help.

Does anyone know of some comprehensive resources that can be understood by someone who has some, but not extensive, financial experience?

Credit Card Piggybacking = Bad Idea?

shew — Wed, 04 Mar 2009 12:46:35 -0800

Bank Fraud Filter: A friend has just asked me to add him to my credit card as an 'authorized user' as a way to boost his credit. After doing a little research, I see that 'credit card piggybacking' is a well-known credit-repair tactic. Should I help? First off, let me say that I have excellent credit. I'm nervous about adding an authorized user to my credit card (especially since my friend has pretty bad credit) but I am reading that I don't have to give him any info about the card (or the card), just add him to the account.

After reading a bit more, I see that there are companies that you can pay and they will do this for you (in partnership with a stranger) for a fee (the company takes a cut, pays the good-credit partner).

Here are my questions:

1) Should I do this for my friend? Is there any risk to my own credit?
2) I'm also reading that FICO 2008 has eliminated the authorized user as a credit building option. Is this true?
3) Should I look into signing up with one of these companies for some extra money on the side? Why not get paid if there's no risk...

credit ratings across nations

Anonymous — Tue, 13 Jan 2009 11:34:02 -0800

I was born in the US, lived in Canada for ten years, and moved back to the States last year. While I was in Canada, I built up a solid credit rating- I had two credit cards, an unsecured line of credit with low interest (7%) and overdraft protection on my checking account up to $3,500. At one point when I was underemployed I built up some credit card debt, but I payed it off. Last year, when I moved back to the US for grad school, I got into a bad pattern of leaning on my credit cards and low-interest line of credit to pay for moving and start up expenses. This June, the world financial collapse coincided with one of my own- I was employed super part time, was making around $750 a month and was struggling to pay rent and buy $20 worth of groceries a week. I just couldn't pay my debt, and I paid very minimally, then not at all. I know I probably should have called the bank and tried to work something out, but what can I say- I panicked and froze. Currently, my total debt load is $14,000 on the line of credit, $3,700 on the overdraft and $1,400 on my Visa. I've worked hard to hustle up jobs, and currently I am no longer as financially destitute as I was. I also have just now been taken to collections. I have an appointment with Canadian credit counseling (the reputable nonprofit that everyone goes to) on Thursday. I plan on amalgamating and paying off the debt.

My question is: how much, if at all, will my credit raring in Canada affecr my US credit rating? So far there seems to be no bleed-through- when I applied for a cell phone a year ago, with excellent credit in Canada, I was told that I had no credit rating in the US- not a bad one, just a nonexistent one. I told them I had great credit in Canada, and was told that the two systems don't relate at all, as the identification markers (Social Security Number and Social Insurence Number) are different. So I'm wondering, if that's so, if it might be so in reverse- that I could maintain good credit in the US even if mine in Canada has taken a hit. I'm not planning on taking out any new credit cards or debt, have worked up a budget, and all the good stuff- but I'd like to know that I could rent a car, not be screwed if I moved and am applying for a new apartment, etc.

Also, I've been told that the credit counseling service may not be able to help me, as I don't work one full-time job- I'm a performer and grad student with several part-time jobs, and sometime chunks of money from performance gigs, grants, etc. So I'm also wondering- given that they charge a fee, might it be better for me to work out my own deal with collections? I can defintiely pay off the small Visa ballance in one chunk this month, and can pay perhaps $500 a month towards the other two after that. Not great, but I could have this debt paid in three years if I stick to it.

Finally, does anyone know of any good budgeting software/budget plans for folks who are self-employed who don't have a regular paycheck? It's been a struggle for me to budget when I might only get $1,000 one month from my regualr small gigs, but then get $3,500 in one chunk from a university performance. Most budget info seems geared towards folks who have one, or two, steady jobs.

Thanks in advance!

How can I lower my interest rates on my credit card and mortgage?

Anonymous — Wed, 08 Oct 2008 17:54:17 -0800

How can I lower my interest rates on my credit card and mortgage? Greeting and salutations fellow MeFites,

Is it likely, possible, or wise to try to persuade my creditors (credit cards and mortgage company) to lower my interest rates by just asking them nicely. I hope this questions doesn't sound too naive or foolish, so please save the lecturing:)

First some background. I have a pretty decent amount of debt. Roughly about 23K in debt, all with 16% apr and up, on 5 different cards...(I know, I know!) My mortgage is 209K with a 5.99% 30 year fixed. I rent out one side to a tenant and live in the other side. My income has ranged from 65- 45K in the last three years. This year, however doesn't looks so good. And with all of this economic turmoil it doesn't look better for the near term. Or the far term for that matter!

I work in the commercial construction field and needless to say, things have been drying up as of late. Work is pretty slow, but It has given me the opportunity to peruse training in another line of work that will hopefully turn out to be more lucrative in the long run. However, in the short term, I have not been this broke in years! I pretty much have used up any saving that I had this year because of lack of work and the remodeling my house/duplex.

How likely is it that my credit card companies will lower my interest rates If I just ask. I have only been more than 30 days late on 1 credit card in the last 7 years, and that was three years ago. Not that it matters, but it wasn't that I couldn't pay it I just made a mistake on an automatic payment option. I have missed the occasional due date now and then, but the payment is never more that a few days past due.

Any advice on how I should go about to do this with my credit card companies? Has anyone convinced their CC companies to work with them without being bankrupt or something? If so, what tactics have worked for you?

Also, Is it likely, or even at all possible that I get my mortgage company to lower my interest rates WITHOUT having to refinance my loan. I have never been late with a payment with my mortgage since I bought my duplex two years ago. As I have said, I have a 30 year fixed at 5.99.

Now having said that, I imagine that my credit score isn't great because of my debt load. Any ideas about how to go about getting my interest rates lowered on. I'm not above begging, btw. What ever works!

Thanks,

Anonymous. AKA, Ol' Debtty Bastard

p.s. I dont know if this info will help but, my mortgage pmt is 1791.00 and all of my card totally to about 580.00 a month.

Has the credit crunch made it impossible to do credit card balance transfers?

jason's_planet — Fri, 03 Oct 2008 10:12:50 -0800

I want to transfer a credit card balance to another card that would offer me a 0% interest rate for a few months. But I'm worried that the credit crunch has made it difficult or impossible to do such balance transfers. Is this the case? A little bit about me:

Citizen and resident of the USA. I have one card with a few thousand on it. I'm pretty close to maxed out; I only have a few hundred left before I reach my limit. My credit is OK but probably not excellent -- it's been a while since I've checked. I worked very steadily in the past but the situation is shaky right now. Nowadays, I get work in bits and pieces and supplement that with unemployment insurance. I have always paid my credit card bill on time and I have never exceeded the limit. I'm holding my own but not prospering.

So . . . has the recent credit crunch made it impossible for people in my financial position to do such balance transfers? What have your experiences been over the last few months? What kinds of deals are the banks offering? Are there any cards that haven't tightened their standards in the last few weeks? What would be my best options?

Many thanks in advance.

Help me pay off my credit cards.

judge.mentok.the.mindtaker — Sun, 27 Jul 2008 19:08:54 -0800

I have: fair credit ( reported between 650 - 720 ). a student loan and an auto finance loan of no more than $30,000 in combination. ~$9000 in credit card debt spread between 2 cards. What is a good way to pay off my high interest credit cards? I am looking at options like small loans, debt consolidation, possibly even balance transfer to a new card (although I hear that hurts your credit score?). Any good sites that can help me budget or somehow help me get out of paying like $150+ in finance charges every month?

Credit cards worth it?

Flamingoroad — Sun, 13 Jul 2008 11:36:03 -0800

I'm thinking of getting a credit card -is it worth it? I'm 22, in the UK and thinking about getting a credit card -I don't feel I need one (not a big or enthusiastic spender) apart from establishing a credit rating -is it worth it?

I understand the benefits -insurance, cash-back etc but it seems like a hassle -I'm perfectly happy just spending money that I have using my debit card.

However, as credit scores are partly based on duration of credit history I'm thinking I should get a credit card if only to prove to future mortgage providers (perhaps 3 or so years in the future) that I'm responsible with credit etc.

As I've also learnt that cancelling cards reflects badly on credit rating so any card I do take out is hopefully going to last me a long time.

I bank with Natwest and am thinking of taking out a credit card with them as it would be easy to pay it off each month with my current online banking setup. But there are no benefits/cash back with it. Aren't credit cards desperate for people to sign up? I might not too excited about credit cards but I don't want to miss out on decent benefits like cash-back etc if there's available.

In summary is it worth getting a credit card and if yes, which is the easiest to use, best 'perks' and recommended over the long term so I don't end up dealing with the 'financial clutter' resulting in opening up other cards in the future?

Any UK specific advice/opinion would be much appreciated!
Thanks

How to spend 25k to reduce debt and increase freedom!

crewshell — Fri, 13 Jun 2008 14:11:09 -0800

A man has debt, he comes into a little bit of money... how best should he spend it? A man has debt.
6k in student loans (5%)
19750k in credit card debt (ranging from 8-10 % interest)
15500k car loan (car is worth 12k)

Man gets 25k at 2% interest.
Man thinks he could get away with no car for 6 months, saving him 600 a month.

Should man pay off credit cards & student loans and continue to drive his car

or

Should man pay some student loans, sell car (take the lose) and pay off credit cards?

What makes the most financial sense. Ultimately regained financial freedom and the ability to go back to school is the goal. Though eventually another car will be needed.

P.S Current car is a gas hog. 18 MPG

Debt/collection agency help: I want to pay off my $1600 debt. What is the best way to go about doing this?

Anonymous — Fri, 15 Feb 2008 15:43:31 -0800

Debt/collection agency help: I want to pay off my $1600 debt. What is the best way to go about doing this? I'm young and I've never dealt with a collection agency before. I would like to pay off my old credit card, which is now in the hands of Anchor Receivables Management. What is the best way to go about doing this? What are "pay to delete" letters? Please help. Many thanks in advance.

Seattle: Need a new credit union or bank!

Bob Dobbs — Thu, 25 Oct 2007 12:56:37 -0800

Seattle: Please recommend a great bank or hopefully credit union Hello All,

We just moved to just south of Seattle. Will likely be moving much closer if not into Seattle proper or north Seattle in the next few months.

I am looking for a great bank or ideally full service credit union. I have a couple needs:
1. Personal checking
2. Business checking and saving
3. Have to have EXCELLENT customer service. ie. I want to be able to email and or call managerial level people at the bank directly once in a great while. Do not want to deal with a central answering service in India. CANNOT deal with large monolithic "you are a number" impersonal banks.
4. Excellent online banking services with easy transfers between accounts. Online bill pay is a nice feature but not essential.
5. We will likely be looking at buying a home and car within the next year or two; would like to have a place that can handle all this for us.

I'm more partial to credit unions if possible.

Thanks!

How to deal best with a delinquency reported by Capital One

phil — Fri, 19 Oct 2007 20:26:30 -0800

How to deal best with a delinquency reported by Capital One Sorry for the long post I am a little frazzled at this point. I will do my best to keep things concise and to the point.

On Saturday October the 13th I was surprised to find a letter from Capital One warning me that I was past due by two payments. The letter also indicated that I owned $141.99. This was a surprise to me as the this card is only used to pay for two items. One payment comes $9.98 and is billed monthly on the 4th or 5th. The second charge is quarterly and comes to $44.07. That means that more than half of the money I owned, $78, is the result of penalties. I called customer service immediately to try and resolve the issue. My intent when I placed my first call was to settle my bill immediately. The first customer service representatives was so unhelpful that I decided to cancel my account as well; however, I was told that there would be a $15 fee for paying online and that it would be assessed to my next bill. This effectively makes it impossible to settle an account and close via the phone. Additionally I was told I could not close the account until I payed the bill, which seemed reasonable. The representative I spoke to was so confused I did not believe everything he said. After our conversation ended I called to try and determine just how much of what I had just been told was factual. The next representative helped me close my account but also let me know there would be a $15 fee to pay over the phone.

On Friday October 19th I called Capital One's customer service a third time because it had come to my attention that they had reported me to the credit bureaus for delinquent payments. I was made aware of this after being denied a new card from another company. The customer support women that I spoke with informed me that I owned only $26.99. Additionally she stated this was the amount I owned because the payment I made in September cleared on October 5th. This payment was for $115. Neither of the representative I spoke to on the 13th were aware of this payment. I find the date this check cleared to be highly suspect as my billing period ends on the 4th; lucky for Capital One that they were able to bill me an additional $39. The women I spoke with was happy to accept a payment via check at no charge, an offer that neither of the other support members offered. At this time I closed out my account by paying the remaining $26.99. I am aware that there is a 4 cent discrepancy in my numbers, I not sure if that matters or not? Additionally I asked the customer support women who I needed to speak to in order to remove the blemish on my credit report. To my surprise she informed me that they did not have a phone number and that they could only be reached by mail. Can this possibly be true?

Is there anything I can do to fix my credit? If so what is the best way to go about getting this behind me?

Additionally if it is helpful here is the details of my phone conversations.
1-800-955-7070
10/13/2007 conversation time 8:10. Call placed at 3:22 PM EST
1-800-955-7070
10/13/2007 conversation time 8:23. Call placed at 3:32 PM EST
1-800-955-7070
10/19/2007 conversation time 21:34. Call placed at 9:56 PM EST

Movement between credit card and home equity loan

tdabbott — Sun, 26 Aug 2007 13:27:28 -0800

Does this make sense? I'd like to use a credit card "convenience check" that is offering 1.99% APR for 12 months to pay down some of our home equity loan that is hovering at 8.25%. Assuming I am very diligent and do not miss any minimum monthly payments on the credit card, can't I just pay off the credit card balance in 12 months with the HELOC? That way I get 12 months of a lower interest rate? This seems so simple, yet I can't find good guidance via Google, etc.

How does paying a loan off early affect your credit score?

mi6op — Sun, 29 Jul 2007 21:26:36 -0800

How does paying a loan off early affect your credit score? I would assume that it would make your score higher. Also I applied for a capital one personal loan. I have a credit score above 750 and reported income of 100k + w/ very little expenses. The rate they offered me was 12.99 which is the highest available from their lowest available of 6.99. What gives, I figure I should prove to be a fairly safe investment.

Apply for a loan to help my credit?

MrBCID — Sat, 23 Jun 2007 21:05:05 -0800

I am in my 20's, have no debt and have no need for a loan; should I get one anyways to help my credit? I have a high credit score, and I pay off my credit cards monthly; but I have never taken out a loan, not even student loans... I worry this will hurt me when the time comes to apply for a car loan, home loan, etc...

What kind of loan should I apply for? I would be able to pay off any loan I apply for, but don't know where to begin... I don't need a car nor am I looking to buy a house; so car/home loans are out... I have only heard of personal loans but don't know if this is the best option...

Whatever loan I decide to get would be placed in a savings account accruing 4.5%...

Any help is will be GREATLY appreciated...

Is there any reason NOT to apply for an Amazon Visa card?

the_arbiter — Sun, 22 Apr 2007 09:49:10 -0800

Is there any reason NOT to apply for an Amazon Visa card? A simple question, really: is there any risk to getting a credit card for a one-time discount and then never using it again?

I'm a student with a little (positive) experience with credit cards. My current card is set to expire in August, though I'm sure Citi will try to bring me back -- but this isn't really relevant.

Amazon will give me a $30 discount (as they offer everyone, I think) if I sign up for their Amazon Visa card -- Student or Regular type. Is there any reason not to sign up for it, get the discount, and never use the card again? Would it make more sense to start using this Amazon Visa card as my regular, everyday card? Its terms are among the best I could get as a student anyway.

Please don't preach to me about credit ratings unless you actually have a firm understanding of how they're assigned; I've gotten too much advice from people who don't actually have any more knowledge of the system than I do. Thanks.

Bogus charges on the Visa

diastematic — Fri, 09 Mar 2007 13:45:27 -0800

We found an unauthorized charge of about $1,000 on our Visa statement -- from seven months ago (groan). What's our best plan for recovering these funds? Today I was reviewing last year's purchases -- scanning for 2006 deductible items -- when I noticed a charge of more than $1k to a WalMart in Kentucky in August last year. There's no way that's ours.

So you'd think we'd notice such a large charge on our credit card, but we put everything, including frequent business travel, on this credit card each month. We scan the bills each month...and...somehow...this one line item escaped us. (Our monthly bill varies from between $3,000 and $7,000 each month, so the total was no surprise.)

I've done my homework and noticed that Visa expects fraudulent charges to be contested within 60 days or a"reasonable" time period. Obviously we're well outside of that. Before I pick up the phone and call Visa in my feeble attempt to fix this, I'm wondering what you'd recommend as a course of action to recover this money. Thanks.

I've paid off all my credit cards.... now what?

weiler63 — Wed, 07 Mar 2007 02:11:54 -0800

I've paid off all my credit cards.... now what? Over the past 6 months. I have managed to zero out the balances of all my CC's down from 10k.

Any help as to how long before this gets reflected in my credit score, and what if any tips you have for boosting that score.

If it helps, I'm keeping the lines open, and use them sporadically for small item purchases. Thanks in Advance. It is certainly a great day when you look online and see all zeros in the cc balances.

--Credit Debt Free

Can a low credit score keep me from my Brooklyn dream?

youcancallmeal — Wed, 21 Feb 2007 20:00:48 -0800

What credit score is a minumum requirement for an apartment in NYC? More info: I'll be looking in Brooklyn, specifically Greenpoint/Williamsburg. I might be able to have my dad co-sign if neccesary. Does that even really help? I got my credit report/score recently and while I'm already getting on with fixing it, I move in May and I'm starting to panic.

Looking for honest credit advisor in NYC

prophetsearcher — Mon, 05 Feb 2007 10:28:06 -0800

FirstPostFilter: Recommendations for an honest credit advisor in New York City, or someone who can fight my fight against the mean collection agency? Hello all,

I have been dealing with some major credit issues for the past few months, and I’m about at my wit’s end. I've read through google, and creditboards.com, and askmefi, but I’m ready to hire someone to take over this crusade for me, since I’m really in over my head wading through all sorts of laws and acronyms (HIPAA, FACTA, ETC.). Any advice on where to find an honest credit advisor or advocate in New York City?

Long story short:

In Dec 2004, I had my tonsils taken out in a hospital in NYC. The original referral came from a doctor in my plan at school in Boston, so I used that insurance for the procedure. I mentioned that I had secondary insurance from my parents, and in fact that insurance (a NY based plan) was used for some of the fees involved.

The hospital billed my NY insurance and it all worked out fine, but the physician and pathologist for some reason opted for the Boston insurance. I wasn’t even aware of these additional fees, because the insurance should have just paid it. However, it is now two years later, and I have collection agencies after me and delinquent credit and I’ve been denied opening two separate bank accounts.

Turns out, the intake nurse (or someone) switched two digits in my insurance ID number, and so the insurance denied their claim. Rather than using the other insurance they should have had on file for me, they decided to send my parents the bill, which my parents promptly disregarded because they made no sense. So the collection agency, which bought the accounts, want my money, but will not guarantee that they will update my credit report to expunge these accounts. Rather, I’ll have these “delinquencies” noted for the next 7-10 years, into my 30s. I'm willing to pay the amount, but am not willing to suffer poor credit because of the medical practice's initial error.

Long Story Long:
I have the longer story all typed up, and summaries of the relevant conversations I’ve had over the past few months, in case anyone wants to email me (prophetsearcher@gmail.com).