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How can an unpaid long distance bill of about 800 dollars affect your credit report and future credit?
Wiki User
∙ 8y ago
It can have a significant impact on your credit. Every day, I see collection accounts from phone companies on people's credit reports.
Any derogatory information, whether it is a late payment, an updated collection account (paid or unpaid) or legal items, that have occured in the last 12 months can affect your credit score up to 35%. Factor that as a 150 to 350 point deduction from the total of 850 to 900.
Credit scores affect not only whether or not credit is extended, and how much a consumer is required to pay in interest rates and fees; they also affect utilities, insurance and even employment opportunities.
It will lower your credit score until it is paid. It is best to pay this debt off in full or to make payment arrangements and abide by it each month. Even if you are only paying $25.00 a month, it is much better then having it unpaid on your credit reports.
Wiki User
∙ 8y ago
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Any default on any loan will damage your credit in the future.
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If your credit card payment is due on the 8th of each month and they received payment one day late on the 9th would that affect your credit to buy a house in the near future and damage your credit?
No, it will not affect your credit. You will probably have to pay the late fee and your interest rate could go up. But legally, creditors can only report you LATE if you are at least 30 days past due.
