Susie Skog knows Lake Norman Real Estate Inside Out

Paying your medical bill is one of the last things on your mind when youre at a hospital emergency room. And how that bill could affect your credit score is probably much less of a concern. But even a non-emergent hospital visit can result in a large medical bill months after your health insurance covers a portion of it. If you dont pay the bill or pay it late, it can go to collections and hurt your credit score.

Here are some of the ways unpaid medical bills can hurt your credit:

Late Payments
An unpaid medical bill can end up on your credit report in a few ways. Your doctors office may report a late payment or unpaid bill to the three major credit bureaus. A large hospital may report the outstanding bill, but a small doctors office may not. If it goes to a collections agency, the debt will likely be placed on your credit report. The largest part of a credit score is payment history. It accounts for 35 percent of a score, and shows if youve paid past credit accounts on time or missed payments entirely.

Medical Debts Weigh Less
Medical debts have less of an impact on credit scores from the Fair Isaac Corporation, or FICO, which are the most widely used. Most lenders in the U.S. use an older version of the FICO credit scoring system which doesnt pay much attention to the type or balance of a collection.

Under the old system, a small, unpaid medical bill could hurt a credit score just as much as a larger debt. The new scoring system protections dont apply if you paid the medical bill with a credit card. If the credit card bill is paid late, your credit score could still be dinged.

Wait Seven Years
Legally, collections can only stay on a credit report for up to seven years. If you can wait that long, then the medical debt will go away and your credit score should gradually improve.

If you want your credit score to improve during those seven years, some lenders may want to see that youre paying off collections that are less than seven years old. Others may not care and may continue denying you credit during that time. The more recent a collection is, the more it will hurt your FICO score.

Published with permission from RISMedia.

Are you having trouble communicating with your partner, friends or colleagues? Do you forget what your friend just told you only minutes after the conversation ended? In a world geared toward multitasking, it can be hard to drop fully into a conversation and just listen. Below are three tips to help you be more present in your conversations.

Ask questions. Don’t just smile and nod. Make your conversation partner feel more heard by asking questions that are relative to what they’re saying. Ask for more details to dig deeper and listen fully.

Repeat what you heard. Every few minutes, repeat what you heard so you know you’re retaining important information. This will also help you avoid accidental miscommunications.

Wait to offer a solution. When we’re listening to a friend with a problem, our go-to response is often to fill silence with a solution, but sometimes, we just need to feel heard and understand. You can even ask your friend if they’re looking for a solution or just space to vent.

Published with permission from RISMedia.

If you’re like many people, you tend to do at least a little work from home.

Dont let an outdated office hold you back.

Give your home office an upgrade by splurging on something inspirational. Something that excites you.

Next, focus on lighting. The best bet is to set up your work station by a window.
And be sure to incorporate lamps into the space. They will come in handy when working after hours.

Set yourself up for further success with a good storage system.
While papers should be stored out of sight, they need to be accessible.

Lastly, create a signal to let people know when youre in the zone.

By upgrading your work space, youre destined for success.

Published with permission from RISMedia.

If you purchased your home as a two-income family, the prospect of living on only one income can be daunting if not downright scary.

But dont despair if a sudden job loss, a new baby, or some other life circumstance is putting you in that position. Take a deep breath, take some time to consider, and review these tips from Parents Magazine:

• Cut back " This may seem elementary, but many couples who have been living with spare cash may not have a clue where to start. Begin by keeping a written account of one months spending. Then study it to identify areas " like entertainment, cable costs, or eating out " where you can easily rein in your spend. What you should be left with is a working budget. Stick to it.
• Cut your grocery bill " You dont have to go on a starvation diet. But cut out expensive convenience foods in favor of cooking or baking. Make your own baby food. Look for sales. Use coupons. You may be amazed at how much money you can save.
• Use cash, not credit " Use credit cards sparingly. Routinely paying by credit card can lead to bills you may find harder to pay off monthly " and building up credit card debt and/or interest is the last thing you want to do
• Become more self-sufficient " If youve been paying for lawn care, housecleaning, or other services you can do " or learn to do " yourself, you can be well on the way to saving serious money.
• Barter for services " Instead of paying for babysitters, exchange babysitting services with another family. Use Craigslist to swap lawn services for public relations assistance. The possibilities are endless.
• Earn extra cash " Just because a spouse has left the workforce doesn’t mean they are powerless to earn. Try part-time freelance work. Organize garage sales. Offer specialty catering services. Use your skills to bring in additional income.
• Sacrifice " It may be tough to resist those season tickets or to nix a Caribbean vacation. On the other hand, you can explore new pursuits; cooking together, music lessons, game nights with friends or family.

For more tips for the home, contact me anytime!

Published with permission from RISMedia.

Published with permission from RISMedia.