medical bills and credit ratings

[onethatcares]

my question pertains to settling an outstanding hospital bill and my credit rating.

I have been making payments for the past 3 years on an emergency room bill that has been sold to a collection agency.

I just got off the phone with them and they will settle for 100.00 less than the bill if I pay by the end of the month. How does that settlement affect my rating? If I pay the entire amount, foregoing the 100.00 knock down, will it look like a pay off of the bill and not a settlement.

Thanks guys, you give the best advice I never had to pay for.

[Eko]

1. Either way

the derogatory note will remain on your credit for 7 years unless you can get them to agree to take it off, get it in writing if you can.

[onethatcares]

2. who do you get to take it off?

the credit bureau or the collection agency?

[Eko]

3. The collection agency.