does paying utilities late affect credit rating?

Answer 1

NO IT DOESN'T. I don't know why there are so many people here answering yes. You don't have to do a credit application for utilities and you are not applying for a loan. You may have to put down a deposit to have the utility started but you credit score is not checked to see if you qualify for electricity or other basic utilities. Credit card, bank loan, mortgage, and other such payments can be reported to the credit bureaus as 30, 60, 90, and 120+ days late which does affect your credit score. This is not the case with utilities. However, if you do not pay the utility bill and the service is permanently disconnected, the utility company can have the unpaid balance listed with a collection agency which can be reported on your credit report. This would be listed as a collection and will affect your credit score. So, you can be late on your utility bill without affecting your credit rating, but make sure you pay it before it is permanently disconnected and assigned to collections.

Answer 2

Yes, any late payment can affect your credit rating and score negatively. My utility and cable providers both report to the credit companies and they show on my report. Also, if you do pay them late it can trigger any credit card company to increase the interest rate that you pay. Perhaps you can have your utility bills and Internet direct debited so you don't need to worry about the due dates.

Answer 3

Yes, especially if there's a history of lates and the utility company has to go to collection to recover what they're due. This is especially true if your utilities are the only established credit you have.

Answer 4

It will impact your credit rating ONLY if the utility reports it to the credit reporting agencies. That usually doesn't happen unless you are consistently late or get sent to a collection agency.

Answer 5

Most of the time the utility companies only go to the collection agency when you have an outstanding bill and they have cut you off. Other than that most of the time they don't go to the credit agency.

Answer 6

Certainly

Answer 7

not if its accidental. if u consistantly pay your bills late, and you get warnings of past due accounts, then yes, this will affect your credit rating

Answer 8

yes specially electrical bills but most of people with bad credit will always default on cable tv, satellite and cell phones

Answer 9

I doubt a week late or once, perhaps twice will not, but after that the damage could be electrifying.

Answer 10

yes