debt such as magazine subscriptions, dr bills, pay day loans
2007-09-04 03:47:22 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
I agree with bdancer.
Since you are under the age of 18 you can not legally enter into a binding contract.
Dispute these things with the credit reporting agencys and they should remove them.
2007-09-04 04:35:53 · answer #1 · answered by ? 7 · 0⤊ 0⤋
Yes it can. Credit reports don't care about minor or not only the last 7-10 years of credit history.
Why are you going into debt for Dr bills and pay day advances at such a young age in the first place?
The palces letting you have credit are completely insane since a minor can not legally enter into a contract (unless maybe you have been emancipated but I would doubt even then)
Under 18, needs a parental signature of consent for miinors to legally sign contracts, and if you go back or default on them, then your parents will be held responsible for the debts and if THEY don't pay up, it will reflect negatively on THEIR credit report as well.
2007-09-04 03:59:51 · answer #2 · answered by Will Y 3 · 0⤊ 0⤋
Yes it can actually except the magazines. the Dr bills and payday loans go by your social and it is reported to the credit bureaus. It doesn't matter if you're 15 or 16, it's not like a juvenile record which is sealed when you turn 18. Stuff that uses your social and is reported to the bureaus does show up for a long time.
2007-09-07 15:21:15 · answer #3 · answered by BTB 08/15/2009 2 · 0⤊ 0⤋
You shouldn't have any debt if you are under 18. You legally can't enter into a contract. That includes the magazine subscription.
If these things are on your credit report, you might try disputing them as being invalid contracts. If you send a certified letter, return receipt, to the creditor disputing the item, they may just remove it.
Did you actually run up these debts? If you're doing payday loans, you're going to be in real financial problems very quickly. The interest rate is 300%+!
2007-09-04 04:11:37 · answer #4 · answered by bdancer222 7 · 1⤊ 1⤋
Yes. More importantly, if you are acquiring bad debt at 18, then what will your finances be like when you're 28. You're in a mess right now, and if you don't change the way you deal with money then it's a long dark hole you will fall into.
2007-09-04 04:31:14 · answer #5 · answered by JB 6 · 0⤊ 0⤋
Yes, it will get you in big trouble. Somehow, my daughter received her own doctor bills. While I tried to work it out with her insurance company, the hospital was sending bills to her. She's 5 years old. Then they turned HER over to a collection agency and SHE got letters from lawyers.
It was a huge mess and a pain to straighten out. Still, I am worried that someday she will have problems from it.
2007-09-04 04:20:28 · answer #6 · answered by MeemeeG 2 · 0⤊ 0⤋
And howdid you get a payday loan as a minor?
2007-09-04 04:09:33 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Yes.
2007-09-04 03:53:19 · answer #8 · answered by *october girl* 4 · 0⤊ 0⤋
I believe so. Debt is debt.
2007-09-04 03:56:01 · answer #9 · answered by quizqueen 4 · 1⤊ 0⤋