Or does it depend on the specific company's policy of reporting to the credit bureaus? Do some companies allow a window to pay before it's reported and how would I find this out? Lastly, do late payments to not-for-profit organizations get reported such as utility bills etc..? Thanks in advance.
2007-02-23 06:53:00 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Not usually. However, if you do it every month, they likely will start reporting you. Some companies have a "grace" period. You'd have to read your agreement with them.
You will probably get a late charge though. Utilities don't usually report to credit agencies unless the account is in collections.
And, comment on your "not for profit" utilities, my electric company is listed on the New York Stock Exchange. They are definitely a profit making entity.
2007-02-23 06:57:53 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
No, while your creditor may assess you a late charge it cannot be reported to the credit agencies until it goes past 30 days. All utility companies report late payments of 30 days or more. And as far as I know most other companies do as well, student loans, private loans, auto financing, etc.
2007-02-23 15:07:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I don't think bills that are paid one day late are reported, however a late fee my be applied. Each company has its policies and most have a 3-5 day grace period. I know that utility bills give you a grace period and mail a past due notice, after that it gets send to a collection agency.
Unpaid bills usually don't get reported to your credit until they have been sent to collection agencies.
Good Luck!!
2007-02-23 17:21:47 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I paid a bill 2 hours late in 1978. During the Super Bowl that year, I swear I saw a blimp with my face on it, and the word: LOSER.
Be wise. Pay your bills early.
I suffered for over 6 years from this single incident.
2007-02-23 15:02:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋
no company is going to waste their time reporting a payment that is one day late. you have to be 30 days or more late.
2007-02-26 22:40:14 · answer #5 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
I think you usually have a grace period. SOme places even give you ten days or more...U should be fine
2007-02-23 15:00:18 · answer #6 · answered by ? 7 · 0⤊ 0⤋
no
2007-02-23 15:31:22 · answer #7 · answered by Anonymous · 0⤊ 0⤋