Anyway, I turned 18 recently, and I canceled my verizon account in my dads name, and switched to ATT to get an iPhone. My verizon cancelation fee is due today, but right now I dont' have the funds (I recently racked up a few overdraft fees from the bank, so I am kind of stressed out with money). I should have enough money by friday, which would make the payment about 5 days late.
I am worried because this account is tied to my parents credit. But I dont' want them to know I am having financial problems, as I am very independent and they seem to make too much of things.
But based on what I have read here, it can take anywhere from 30-90 days late for it to effect your rating, and even then it doesn't hurt it until you are sent to collections.
So should I be fine having a payment that is a few days to a week late?
2007-10-20 15:57:02 · 7 answers · asked by Jeremy J 3 in Business & Finance ➔ Credit
If i owed late fees would they send me another bill? Last thing I would want is an outstanding balance and not knowing about it.
2007-10-20 16:20:22 · update #1
Try to negotiate the payment with Verizon and make sure you pay off the entire bill (including any other possible fees on the top your cancellation fees). Verizon will not send you a bill if there is any amount due on closed account. Instead they will sent your account to CBCS collection company that will report it as charge off on behalf of Verizon.
So, call Verizon and schedule your final payment.
2007-10-20 21:43:00 · answer #1 · answered by Dr. Shakar 2 · 0⤊ 0⤋
Based on what you stated, I think you need to rethink your spending habits. You cancelled a cell phone contract and incurred early term fees ($175?) just to get the hot new toy. At the same time, you're overdrafting your bank account because your spending more than you have.
Paying anything late is bad, very bad. If you are 30 days late, it will be reported and negatively impact your credit rating.
2007-10-20 17:07:49 · answer #2 · answered by bdancer222 7 · 1⤊ 0⤋
You won't have any problems with a single late payment if you pay it off, and maybe even call them up.
I would be more worried about your comments about being independent and having overdraft fees and paying cancellation fees just to get an i-phone.
Extremely financially irresponsible of you.
2007-10-20 16:33:52 · answer #3 · answered by justhefacts 3 · 1⤊ 0⤋
Most likely, their credit rating will be fine if you deal with the payment before it goes to collections. However, you will probably get hit with a late fee, on top of the cancellation charge.
2007-10-20 16:10:56 · answer #4 · answered by Anonymous · 1⤊ 0⤋
on the grounds which you do no longer seem to have the evidence which you have thoroughly paid off your account stability, you will lose right here while it includes having to pay this $80. enable it bypass to collections and you're able to be able to guess that $80 will develop into $one hundred fifty or greater fantastically as we talk. i think in case you wanted to take a huge gamble, you need to forget approximately approximately it till it relatively is on your credit record and then dispute it with the enterprise they're reporting it to and notice in the event that they are in a position to offer a valid contract/invoice that exhibits you nonetheless owe this volume. At that factor, you're able to ought to pay. yet, you would be paying so plenty greater, and your credit could have already been affected considering the fact it relatively is in collections.
2016-10-07 07:43:42 · answer #5 · answered by calandra 4 · 0⤊ 0⤋
If it's only a few days late I doubt they'd bother reporting it to a credit reporting agency. If you owe late fees, yes you'll receive anoher bill, they wouldn't charge you late fees and then not attempt to collect them.
2007-10-20 16:23:23 · answer #6 · answered by Lesley 5 · 1⤊ 0⤋
As long as you pay it before it is 30 days old it should not impact your credit. Most don't report bad credit until it is 30 days past due.
2007-10-20 16:40:02 · answer #7 · answered by Flyby 6 · 0⤊ 0⤋