Will this hurt my credit report?

Discussion in 'Professional Trading' started by DataCruncher, May 3, 2008.

  1. I left a bill with someone to send out, but they mistakenly mailed the check late. If the bill was supposed to be paid in 30 days after the charge incurred, and the company doesn't receive it until say 35 days after the charge incurred, will this hurt my credit score? It is not a credit card bill.
  2. cstfx


    Without more detail that is an answer that can't be made. Is it a magazine subscription or health club membership or phone bill or utility or cell phone etc? Payments affect different bills differently.
  3. it is a utility bill
  4. cstfx


    For the most part, no. (May always be an exception to the rule - there really never is an absolute.) Utility payments are not reported on your credit scores, only when you don't pay (severe outstanding balances). I have had experiences with both ConEd in NYC and PSEG in NJ (2 large utility companies and neither time were my on time payments or late payments reported to credit bureaus. They run a credit check when you establish a account to determine your risk and whether or not you need a deposit. To assure yourself you can contact Cust Ser. and inquire about their credit reporting policy if any.
  5. Surdo


    As long the service was not turned off or sent to collection, it will not affect your FICO score.

    You can look at your credit report, for free, and see who inquired.
    Your credit card companies, lines of credit, and lenders routinely look at it.

    Con Ed or whatever utility bill you "forgot" to pay could give a rat's ass, as long as you pay them, otherwise they turn off the service, pretty simple.
  6. from what I understand the utility company starts charging finance charges if the bill hasn't been paid in 30 days. I don't mind paying a little finance charges but I don't want it to ding my credit score. I was concerned because if I haven't paid it in 30 days, does this mean I am now considered to be using a line of credit with the company?
  7. Surdo


    If I were you, I would buy a generator, just in case they decide you are a credit risk and permanantly turn off your power.

    You can get a decent diesel generator for about $20 grand to power your entire house and never have to worry about a late bill again!

  8. gwb-trading


    Normally utility bills that are paid 30 to 60 days late do not show up on your credit report.

    To be sure - the best thing to do is to call the utility explain the entire situation to them. Point out the bill has been paid (the most important point) and ask that the payment not show up as late on your credit report. Also ask to have any late charges waived. Normally if you are a customer who has paid their previous bills on time, there is no issue.
  9. I pay my utility bill late each month on purpose. They don't report it so don't worry. Only if you completely ignore your bill and never pay it will they report it. It's far too much of a hassle for them to deal with monthly credit reporting on potentially millions of customers when they really aren't in the business of credit. Also, I guarantee probably half their customers would be dinged by bad credit reports if they did.

    Nah...for more than 1 reason utility companies will not do credit reports. Logistically, it's too much of a hassle for them. Secondly, utility companies piss people off enough as it is. Can you imagine if they also did negative reporting for being 5 days late with a payment. Again...nah...it would be a consumer relations nightmare to deal with customers not only angry about utility costs, but also petty credit reporting. :D
  10. clacy


    I pay my utilities, cable bills late all the time and it doesn't ding your credit. I do it out of laziness or forgetfulness, not because I don't have the cash, etc, but it has never dinged my credit.

    Obviously, if you didn't pay for 2 or 3 months, you could run the risk of being reported.
    #10     May 4, 2008