What Is Medicredit

What Is Medicredit And How Do You Remove it From Your Credit Report?

Have you ever seen the word “Medicredit” on your credit report and wonder, “what in the world is that?”…”what is Medicredit?”.

So…what is Medicredit and why is it on your credit report?

What is Medicredit?

Medicredit is a debt collection agency based in Earth City, Missouri. They buy past due medical bills for a fraction of the price, hoping to eventually collect the money from the credit holder.

You may have had “Medicreditcorp” show up on your caller ID or received a letter from them in the mail. It’s because they are trying to collect the money from you that the original creditor has written off.

Any collection by Medicredit you see on your credit report will stay there for 7 years unless you take certain actions to remove it from your record.

What to do if you are being contacted by Medicredit

We now know “what is Medicredit”, but what do we do when they start to contact us? It’s simple, demand that they validate the debt.

Don’t forget that 1 in 5 Americans have a mistake on their credit report, so before you pay any debt collector, send them a debt validation letter to confirm that the debt is indeed real and legitimate.

A debt validation letter can be either sent by you or a credit repair service and should be sent within 30 days after you have received notice from Medicredit about the debt you owe.

If they cannot validate your debt then the law states they must remove the collection from your credit report.

The number of fraudulent phone calls Americans receive from so-called “debt collectors” has gone through the roof. These days, it’s always a good idea to get your debt validated by the collections agency before sending out your payment, just to be on the safe side.

If Medicredit gets back to you and reports that the debt is indeed valid, then you can take steps to removing the Medicredit payment from your credit report.

How to remove Medicredit from your credit report

So we know “what is Medicredit” and “what to do if Medicredit contacts you”, but what if you want to get rid of the Medicredit collection from your credit history? Here are a few ways to remove a Medicredit collection from your credit report:

1. Send a dispute letter to Medicredit

What Is Medicredit
What Is Medicredit And How Do You Remove It From Your Credit Report? 5

Sending a dispute letter to the creditor or debt collector is always your first line of defence. Even if you know that the debt is valid and legitimate, there is really no harm in testing the waters to see if they will remove the collection, even if it ends up being an oversight on their part.

Medicredit processes 200,000 collections a month, so there are bound to be some mistakes mixed in there. Maybe yours is one of them?

When sending a dispute letter, be sure to include any documentation that could prove the Medicredit collection is a mistake and use an approved template to keep it professional.

You might also choose to send the letter by certified mail to make sure it’s actually received. Keep in mind the creditor always has 30 days upon receiving a dispute to get back to the credit holder.

2. Send a Pay-For-Delete letter

What Is Medicredit And How Do You Remove It From Your Credit Report? 6

If Medicredit Collections sends back a response saying that your debt is real and valid, you could try sending a pay-for-delete letter.

A pay-for-delete letter is a request for the collections agency to remove the negative item or collection in exchange for you paying it off in full.

This practice isn’t entirely legal as creditors are obligated to report all negative items to the credit bureaus. However, the promise of receiving the payment in full immediately could convince them to make an exception for you.

If Medicredit Corp agrees to delete the collection for you, you still might have the original delinquency on your credit report (from the creditor they bought the collection from). In this case, you will have to send another letter to the creditor to get it removed.

You will never know if you don’t try. If you aren’t sure what should go on a pay-for-delete letter, use this pay-for-delete letter sample.

3. Hire a credit repair company

What Is Medicredit And How Do You Remove It From Your Credit Report? 7

If all of this “sending letters” business sounds too confusing, then you might want to consider hiring a credit repair company to take care of the Medicredit collection for you.

Credit repair companies like Lexington Law, Credit Saint and Credit Glory specialize in removing all kinds of delinquencies from credit reports including late payments, repossessions and collections.

Most credit repair companies will offer a monthly package, where you will pay a certain amount of money each month for them to work on deleting items from your credit report.

This could be a really good option for someone who wants to remove a medicreditcorp.com collection as well as other items like late payments.

If you are only concerned about removing the Medicredit collection item, then paying a credit repair company may not be worth it.

Takeaways: What Is Medicredit And How Do You Remove It From Your Credit Report?

Medicredit can be a bit pesky, but as you can see there are many ways to delete the Medicredit collection from your credit report.

You might choose to do a big sweep of your credit history by hiring a credit repair company, or do it yourself by sending in a dispute or pay-for-delete letter.

When you start getting contacted by Medicredit, it’s recommended that you ask them to validate the debt before you hand over any money. This will ensure that the debt is in fact real and that they aren’t trying to scam you out of more money than what you actually owe.

Having to deal with debt collectors is no walk in the park. If you are looking to hire a credit repair company to do the dirty work for you, check out our article on “The Best Credit Repair Companies of 2022”

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