Account in Collections?

[Ellebarry]

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If I have an old account from Verizon reported as a "charge off" and sent to collections, will this prevent me from being accepted to medical school if I apply next cycle?

Currently trying to find out what agency is reporting so that I may talk with them, but it's convoluted and not even guaranteed they would remove it from my report.

 

[emraldragon]

To my knowledge, no. Med schools do not run a credit check on you.

However, it is possible it could affect your ability to get gov't loans. Problems on credit reports also affect security clearances in the military so you could have a problem if HPSP was your plan.

 

[Ellebarry]

Yes, I was interested in HPSP. :/

I am in school right now and have not had an issue with my financial aid awards.

 

[emraldragon]

I am not a licensed financial adviser, so please take any comments I have with a grain of salt. I'm merely repeating things I have heard both IRL and on SDN. It would seem that getting the "charge off" removed from your report if you can is definitely the best course of action. It should not impact your possible entry into school, which would give you approximately two years to get to the bottom of the issue.

 

[Ellebarry]

Oh, I completely understand that this isn't professional advice, but I do appreciate. I have been trying to research it and haven't had much luck. I also tried to see if a financial advisor from my bank would be helpful, but the FAQ page seemed to indicate that talking over collections isn't really their deal. I'm just lost and trying to find some footing to begin by.