Credit Report agencies

There are three different credit report agencies Trans Union, Experian, and Equifax. You are entitled to a free credit report from each one of these agencies to contact them go to Trans Union: www.transunion.com or 800-916-8800, Experian: www.experian.com or 888-397-3742, Equifax: www.equifax.com or 800-685-1111.

It is a great idea to check your credit report at least once a year. If you are aware of what is on your credit report, it is easier to catch when there has been medical bills not paid by your insurance.

Insurance Companies

Most people are denied for a credit card, loans, or mortgage; because they had a medical bill reported that was not paid. Now days it takes the insurance companies so long to get a medical bill paid for that it is hard for the patient to tell if it has been paid or not. In fact most patients will just pay the bill so that it won’t reflect on their credit

This has become such a big problem that some states are starting to charge fines to insurance companies that go past the time period set that they have to have the medical bills paid by. The states that have pasted this law are New York, Pennsylvania, and Texas.

Knowing your Benefits

Other than just knowing what is on your credit report, another way to help keep your credit score high and your record clean is to know what the terms are on your health insurance. It is important to be familiar with what your insurance covers and what it does not cover.

By knowing and understanding you insurance it helps you to stay on top of your medical bills. You will know what you need to pay up front. This will intern help to keep your doctors from reporting to the credit bureaus.

Doctors

Doctors know days are quick to send their patients that are delinquent on the payments to collections. This makes it really hard on the consumer that wants to stay in good standing on their credit report. If the insurance company takes to long to pay their medical bill then it goes to collection and then in turn reflects on the consumer’s credit report.

Can you get a loan with an unpaid medical bill report on your credit report?

Some lenders will not even look at your application if you have an unpaid medical bill reported on your credit report. Fortunately there are some that will approve those with an unpaid medical bill as long as they have a good report with their other creditors.

There are some lenders you understand what happens with some insurance companies. They will take in account what the rest of your credit report looks like. They know that if you pay your bills on time to creditors that you have chosen to loan your money from then you will pay them also.

Avoid Unpaid Medical Bills

There are a few things that a consumer can do to avoid having an unpaid medical bill show up on their credit report. They can make sure the doctor’s office has all the correct information for your insurance. Make sure you stay in contact with the medical office and your insurance company.

What for the bills and look over them carefully. Don’t just assume that the insurance company has paid them. Also check to make sure the insurance company is not being charged double or for things that didn’t happen.

It used to be that many people had no idea what their credit score was until someone else checked it because they bought something using a loan, or applied for another credit card. Often they never checked their credit scores because they did not have the means to do so, and sometimes it cost money that most people aren’t willing to spend. However, today just about anyone can ask to receive a credit report on the Internet, over the phone, or through the mail, and the best part is that everyone is entitled to this credit report for free up to three times a year!

Getting Your Free Report

Getting a free copy of your credit report is easy. You can simply go online, fill out the information they ask of you, and submit it. How you will receive your credit report, whether by mail or email, is up to the specific company that you are requesting your information from. The three main companies that most people request their credit report from are Experian, Equifax, and TransUnion, and you may request a free credit report from each of these companies for free once every year, therefore giving you the chance to view your credit score for free three times a year.

You may also check your credit report more than three times a year if you like. However, this will not necessarily be free. If you check your credit report more than once with any of the three major companies, you will likely be charged for it, and any other company may be very risky to give your personal information to.

Why Do You Need to Know?

Getting a copy of your credit report and knowing what your credit score is will be a huge advantage to you. If you monitor it regularly, you will be more likely to detect any kind of fraud that someone else has committed on your credit. It will also help you to track your own credit, how your credit spending affects your credit score, and allows you to see what you can do to improve your credit attaining possibilities.

Risks

There are some risks that you must be wary of when it comes to getting your credit report. Probably the most dangerous, though most convenient, way to get your credit report is online, but only if you are not careful about where you go. Getting your credit report through the mail or on the phone can be just as hazardous if you are not cautious of who your sources are.

You are generally very safe when getting a credit report with the three previously mentioned reporting companies. They have a very well known reputation of legitimacy in the United States. There are other companies, however, that may be setting you up for identity theft, or who are trying to steal your money. Just make sure you know that the website and the company you are requesting from are perfectly safe before you give them your personal information.