Fair and Effective Debt Collection Services
A credit report is a summary of your financial history. Creditors and lenders decide whether to extend or not to extend your credit (and at what rates) through your credit report. It is crucial that it is managed well because it includes your payment history and tradelines (number of active credit accounts) that creditors and lenders use to evaluate your creditworthiness.
• List of companies that gave you credit or loans
• Credit limit for credit cards or the total amount for each loan
• Your payment amount or how often you pay your credits or loans on time
• Companies that requested your credit report within a certain time period
• Address(es) and/or employers
• Public records information and collection agencies
A credit score is the result of a mathematical formula that contains the information on your credit file. Your credit file includes how well you paid your bills previously and the calculation on how likely you'll be able to pay your bills in the future.
Credit reporting companies are allowed to show your credit report and/or credit score to other companies as long as they have lawful reason to ask for it. These companies may include possible lenders. Lenders rely heavily on your credit score to determine how risky or safe it would be for them to lend you money. Potential employers use your credit scores to help evaluate how trustworthy you are while auto and homeowners insurance companies use your credit score to determine rates.
1. Gather some information
An Explanation of Benefits (EOB) letter will be sent to you after a claim is filed by insurance. This letter will let you know how much the insurance will pay and also how much you should pay. You will receive a letter for every file that you claim.
2. Confirm that the claim was filed
Hospitals and medical offices are not required by law to submit your insurance claim for you. Sometimes they will take care of it for however, you may need to file the claim yourself. Make sure to ask your provider if the claim will be made on your behalf.
3. Check the date the insurance claim was filed
Insurance companies follow a strict filing period. Most filing periods are one year, but in some cases only takes 90 days. If you are past the timely filing period, your insurance company will most likely not make the payment.
4. Confirm that you have paid your deductible
You are required to pay your deductible first before your insurance company will make their payment.
THIS COMMUNICATION IS FROM A DEBT COLLECTOR AND IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
Need straightforward answers to your credit and debt questions? Ask Doctor Debt will provide you with resources and information to help you work through your debt questions.
Late payments stay on your credit report for approximately seven years while bankruptcies can stay on your credit report for up to 10 years.