i have an account with a big business and i have to pay them money every month. they wont let me cancel, so ive stopped paying them. will they be able to mess up my credit if they have my social security number? thanks for the help, yahoo answer-ers!! =)
2007-09-04 11:35:51 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
Does not matter if it is a big company or a little one, you signed a contract, and have stopped paying on that contract, yes this will mess up your credit, big time, and remain on your report for 7 years, plus they might go to court to get a judgment for the monies that are still owed.
2007-09-04 11:52:53 · answer #1 · answered by Pengy 7 · 0⤊ 0⤋
Yes. It's a contractual agreement. When you signed up with them for whatever service, you agreed to their terms. Sorry! On another note, if they charge off your account (send it to collections), the negative information will stay on your credit report for 7-10 years. (That's a long time!!!)
2007-09-04 11:46:39 · answer #2 · answered by Kathy H 3 · 0⤊ 0⤋
If your account is contractual, yes they can mess up your credit by reporting you late, chargeing off your account and turning you over to collection companies.
2007-09-04 11:42:56 · answer #3 · answered by ? 7 · 1⤊ 0⤋
OF COURSE!! and they WILL!! Best bet is to call them and resolve any issues you have with them.
2007-09-04 11:43:41 · answer #4 · answered by marisanj 5 · 0⤊ 0⤋