It does affect your credit. It's a good idea to call each agency and try to negotiate a monthly payment or a total payoff amount so that the record of the delinquency will be removed from your credit report. Fortunately for you, medical debt tends to be eligible for charge off or reduced payment amounts due to hardship. Some states even have specific laws regarding how much hospitals may collect from impoverished patients. Do a little research for your state and make sure that ASAP you contact each collector and negotiate a monthly payment, charge off etc. Even after things have been discussed the negative remarks will remain on your credit for up to 90 days or more but do not be alarmed.

ETA: Making payments may not allow you to be approved for a loan as credit agencies report at different times. If you are in the US you can view your credit report for free at annualcreditreport.com. That site will not give you a score but you will show you everything on you credit report free of charge once a year.

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