i bought a set of jewelry from her made payable monthly for one year i gave her 12 post dated checks but after the 6th month i closed my bank account so i told her and now i'm paying her by money order my 7th m.o was delayed by almost a week and now she's threatening me that my next payment should be on time with the dates i put on the post dated check on the account i've closed or else if its late by just 4 days she's gonna report me to the credit bureau. does her threat hold water? She keeps on harrassing me calling me constantly and i'm really getting stressed out!
2007-07-20 03:50:26 · 11 answers · asked by athena 1 in Business & Finance ➔ Credit
If she is just an individual then no, the credit reporting agencies make it very difficult to add items. Unless they are a legitimate business who pays for their service they will not add items to the report.
Now, if you do not pay your coworker can file a suit against you. By giving her the post dated checks you basically made an agreement to pay on those dates. If you don't and she took you to court she probably would be able to prevail. This could then show up as a public record(judgement) on your credit report.
2007-07-20 03:55:44 · answer #1 · answered by OC1999 7 · 3⤊ 0⤋
Even if she could report you (which an individual can't usually) she couldn't report you until you were at least 30 days behind. I would pay her, only because you have to work together and maintain a good relationship.
FYI, never do business with friends, family, or co-workers.
Keep all your phone records (either a log or on your phone bill) so that if this thing goes to court later, you could always prove that she has harassed you.
I'm pretty sure if she is able to report you it would cost her probably the same cost as a payment would to register with a credit bureau. Even if she was (which I seriously doubt she is) and she waited until you were 30 days late (which you will probably pay her before then) you could always dispute anything on your credit report and then she would have to prove documentation that the missed payments occurred within 30 days or it would be removed. Again, I doubt she could do that.
Wait a minute, did you fill out a credit application before accepting the terms of this agreement? If not, she can't report it no matter how much you owe.
2007-07-20 11:11:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Nope, the credit bureaus don't care about 4 days late anyway..
Why don't you just pay her on time/
By the way, a post dated check can get you in trouble. A check is a sight instrument; therefore, the bank could honor the check, or return it due to the date. Either way, you out some money - the amount of the check or the returned check fee.
2007-07-20 11:32:21 · answer #3 · answered by Chef dad 3 · 0⤊ 0⤋
No, her threat does not hold water. Credit bureaus are not interested in late payments of less than thirty days late. furthermore, if this ditz DOES report you and they take her seriously, you can ask the credit bureau to verify the debt.
I'm guessing that there is no written paperwork on this deal. How will the ditz verify the debt to the credit bureau with no paperwork? They're not going to take her word for it on a verbal agreement.
2007-07-20 10:55:59 · answer #4 · answered by acermill 7 · 1⤊ 0⤋
It's possible, if her company is set up with the credit bureaus and you signed a contract, then you are in default not only for being late but for closing your bank account also.
Did you sigh a contract? Doe's it explain the terms and conditions if you are late?
Not really enough information, but you could have a problem.
2007-07-20 10:57:33 · answer #5 · answered by ? 7 · 0⤊ 0⤋
Ask her if she has a permit to due business? If not they she can't report you to a collection agency. for her on-going illegal business.
Did you sign a contract? If not then tell her to go to hell and that you will pay her. Just make sure that you do. I am sure she knows that with any business you are going to get some late payments. that is all this is. A late payment.
This might make you work place a little uncomfortable, but you have to do what you have to do to put dinner on the table.
2007-07-20 12:27:20 · answer #6 · answered by Cali Girl 3 · 0⤊ 0⤋
Sure she can, but if payment is only 4 days late the credit bureau isn't going to care very much. 30 days late and they will put it on your credit report, and as far as black marks go an individual seller isn't that big of a deal. Credit card issuers, mortgage holders, and leaseholders are. Someone who sells jewelry on the side isn't.
2007-07-20 10:58:17 · answer #7 · answered by Amy V 4 · 0⤊ 1⤋
she cant report you to the credit bureau. i dont know what would happen if she tried to do something with all those checks you gave her already though. It seems weird to me that you gave her soo many post dated checks.
2007-07-20 10:56:11 · answer #8 · answered by David C 3 · 0⤊ 0⤋
She is blowing smoke! Only a business set up to take credit cards can do that. But this is a friend?? I would find a new friend. But you really should honor your agreement if at all possible.
2007-07-20 11:51:25 · answer #9 · answered by Dewey K 2 · 0⤊ 0⤋
she could report to a collection agency who then could report to the credit bureau.
2007-07-20 11:19:33 · answer #10 · answered by catgina 2 · 1⤊ 0⤋