Be proactive, track your health care bills

admin • September 26, 2013

Over the past 24 years I have seen a very big problem consistently show up consumers’ credit reports: Many people who have had medical issues think their medical care was paid for by insurance, only to see the unpaid bills end up in pursuit for back payment.

This is a minor problem for consumers. It costs a person’s credit score 45 points for each unpaid bill turned over for collections. But there are things you can do to educate yourself about the issue and avoid this mistake.

If you go to a doctor or clinic, the visit is given a code by a medical transcriber, who them submits the code to your insurance company. This does not mean the bill will be paid automatically. Given how complicated coverage is these days, it’s quite possible the bill will not get paid, and the whole time you may think it has been.

You have been proactive with your health care and make sure you follow the process from the doctor to insurance company.  I have been through six major surgeries myself and I learned this from personal experience. It is important to always make sure to have your hospital bills audited.

I personally was charged $700 for prescription, and when audit was done it turned out to be a $700 box of tissue. As you can see, it’s best to make sure to have your medical bills audited, which you can request from the hospital.

If the insurance is being billed correctly and they are hesitating to pay, this is another issue to look into. The New Mexico Department Of Insurance (DOI) governs all insurance companies, and no insurance company wants your claim to be investigated, only to be looked into.

Remember, be proactive. And until next time, good credit to you.

Red light camera tickets a credit risk

By admin • October 2, 2013
Red light camera tickets a credit risk – About a month ago I started getting calls from banks and mortgage companies that their loans all over Albuquerque were falling through for auto and mortgage loans. The reason? Years of red light camera tickets recently went into collections, all at one time, and thus put on the credit reports of Albuquerque consumers. Sure enough, I had many clients come in to have meetings to see if they were credit ready wise. Scores were knocked down between 35 and 45 points for each collection entry for these red light tickets.

Keep lease judgments off credit history

By admin • October 2, 2013
Keep lease judgments off credit history – I have seen many cases on my office of consumers with judgments on their credit reports due to early termination of a lease. In many cases the lease was walked out on due to a hostile living environment. Whatever the case, there are things to get this mark removed from your credit history.

Don’t let someone else’s credit problems slow you down

By admin • October 2, 2013
Don’t let someone else’s credit problems slow you down – Cross-referencing of others on your credit report – credit information that erroneously shows on your report because another person shares identical or similar name – can cause great financial hardships and has become an epidemic. I get one to two cases of cross referencing, and if the person you’re being cross referenced with has negative credit history, this will completely shut down your ability to get A+ credit.

Your own personal credit FAQ

By admin • October 2, 2013
Your own personal credit FAQ – I get a lot of questions at Credit Rescue Now, Where we counsel consumers about financial landscape and how to make sure their credit remains strong and sound. I thought it would be helpful to put together a list of frequently asked questions and answers. I hope this information is helpful.

Take care of your credit while renting

By admin • October 2, 2013
Take care of your credit while renting. People know what major financial step home ownership represents, but we often overlook the financial and credit implications of renting an apartment or home. There are some important things to consider.
More Posts