How will unpaid medical bill affect student loan availability?

[cannonfodder]

Advertisement - Members don't see this ad

Like I didn't have enough stress already, I just found out that a hospital bill from several years ago may be affecting my credit. I was a college student at the time and under my parents' insurance. They signed as responsible parties to the bill. They have tried to keep up but in the meantime both of my other siblings developed serious medical issues that ran up some truly obscene bills - including multiple surgeries, hospital in-patient, and expensive medication. My old bill kinda got pushed aside to make way for all the new stuff and it sat for awhile. Now it's been turned over to a lawyer and his threats are coming in the mail addressed to ME.

Does all of this mean my credit is damaged? (It was impeccable before)
I'm almost afraid to do one of those free credit score things to find out but it's probably better to know than not know. If it's bad, does this affect my ability to get a Stafford or GradPlus loan? Or does it just raise the interest rate? I feel like I can't breathe.

 

[jblil]

Go to the creditboards.com website and browse its forums. There is a subsection devoted to medical collections. Post your situation and ask for advice; the folks on that site are very knowledgeable and ready to help.

 

[hulksmash2010]

Or go on creditkarma.com and check out your scores and past due bills. If it's pretty damaged, talk to your financial aid officer about whether you should apply for credit based Financial aid. I'm not sure if you will still be able to get government aid.

 

[deleted480308]

if you are in default, you will not get grad plus.....you need to solve this

 

[cannonfodder]

Thank you, everyone, for your advice. I know it is better not to wait in these situations so I am ON IT tomorrow. I just got a little paralyzed with indecision today. I must sound like a basket case to all of you but PT school waiting torture & credit uncertainty are just but 2 of the things that are occupying my mind - and they are the 2 least stressful things, if you can believe it. Hence - my user name. Definitely how I feel these days.