I recently lost my job and I have bills coming up but no money to pay them with. I have a car payment, insurence and 2 credit cards. What will happen when I don't make the payments? I have really good credit and I'm wondering how far it can go before my record will be scarred. Is there anything I can do to to postpone it till I get another job?
2006-12-13 14:58:27 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
yes
2006-12-13 15:07:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The late payment on car and credit cards will go on your credit report. The car payment may allow you a GRACE PERIOD call them and ask about it. It is possible that the credit cards will allow you to pay interest only if you contact them and let them know that you need a little time to make the "full payment". The best thing you can do is get in touch with them! I hope that everything works out for you. Have a great holiday season!
Eds
2006-12-13 15:11:08 · answer #2 · answered by Eds 7 · 0⤊ 1⤋
1. You will be fine. Utility bills can appear on a credit report (I once had an electric bill that was on time on my credit report), but the categories for any type of bill (even credit cards) are not 30 days late, 30-60 days late, 60-90 days late, etc. Even if the bill does appear, if you are less than 30 days late, then it looks the same as if you are on time. 2. Cell phone bills can appear, but usually only if you are very late (at least 30 days).
2016-03-29 06:34:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The car payment and credit card payments will appear as late if you are over 30 days late and if the companies reported to the bureau when you were making payments on time. Your insurance will not appear on the FICO report unless you really far behind and they report you to collections. Your best bet is to call them and notify them before you are late. They should be able to give you a forebearance (grace period).
2006-12-13 16:53:52 · answer #4 · answered by Mariposa 7 · 0⤊ 0⤋
Hmm. Different companies have different approaches. There's no generic answer I can give.
On the bright side - look at how many bankrupts there are, & how many people there are with simply awful credit records. Even if the worst happens - & I hope that for you, it does not - you're not alone & life can go on.
Good luck.
2006-12-13 19:50:24 · answer #5 · answered by Minmi 6 · 1⤊ 0⤋
If you don't make the payments, your credit will be trashed, and you'll start getting calls from collection agencies. If you don't keep up with the car payments, the loan company can repo your car.
2006-12-13 17:39:20 · answer #6 · answered by Steve R 6 · 0⤊ 1⤋
Yes. And then they will come and take your sign down,. The Bastards.
2006-12-13 15:31:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yup, if you are more than thrity days late yes..Have you filed for unemployement?
2006-12-13 15:00:35 · answer #8 · answered by Anonymous · 0⤊ 1⤋