2006-12-16 10:23:10 · 4 answers · asked by Maureen W 1 in Business & Finance ➔ Credit
Yes...anytime you default on a loan or are more than 30-days late on a payment, it will affect your credit rating.
2006-12-16 10:27:10 · answer #1 · answered by The Face 3 · 0⤊ 0⤋
More than likely, yes. Here's why: When you sign an agreement to rent a car, you agree to be liable for any damages, less any insurance on the vehicle. If the automobile is damaged, any damage that isn't covered you have to pay for. If you don't, they will more than likely pursue collecting it and once that happens, a collection company will attempt to put it on your report.
Of course, you will want to fight this. Here's how: once you receive the letter from (any) collection agency, immediately ask for validation. They have to verify the debt is yours and stop collection activity. While they are doing that, copy the BBB and your Attorney General, so that they can start an investigation. Chances are, the CA will not want the hassle and agree to settle/quit pursuing the collection of the debt.
2006-12-16 11:39:24 · answer #2 · answered by Kevin K 3 · 0⤊ 0⤋
It depends on whether the car rental company is a credit reporting entity. If they are a large chain, chances are it will eventually show up on your credit. A smaller company could hand it off to a collection agency that could list it on your credit eventually as well.
2006-12-16 10:53:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes but fight it as it was stated above.
2006-12-16 12:02:06 · answer #4 · answered by Anonymous · 0⤊ 0⤋