I have a temporary financial problem where a few of my payments are two behind. I am fortunate that I can pay them at the end of January, but all the companies are being quite aggressive and despite making promises of payment they say they are putting defaults against me. What harm can they do and when I have paid, how long before they are cleaned. ie can I pass a mobile phone credit check when I have paid my arrears
2007-12-27 21:25:41 · 5 answers · asked by royal 2 in Business & Finance ➔ Credit
Sounds as though the companies that you are behind are trying to scare you into paying earlier than you said you could. In most cases charge off don't occur until you are over 90 days late. The worst that they can do for now (since you are only 60 days late, if I am reading this correctly) is mark your credit report 30 days late, than 60 days late. Get the payments caught up (even if you can only make one payment) before the 90 days. Hold off on getting into a contract with a cell phone company for now. If you need one try a prepaid one. Get your other financial obligations in order, save up some money (at least 3 months worth of payments).
2007-12-27 21:58:25 · answer #1 · answered by ms.toni67 3 · 0⤊ 0⤋
If you have the money to pay them and catch them up, of course do that. However, if you are more than 30 days late the late pays will show up on your credit. The late pays stay on your credit for 7 years from the last date of activity. I work for a company in which I am the Credit Education Director and know the credit laws very well. You may be able to get a mobile phone...but they may require a deposit..it is all dependent on what your credit score is.
2007-12-28 07:19:30 · answer #2 · answered by creporthelp 1 · 0⤊ 0⤋
You will have this effect your credit for 7.5 years. Being irresponsible or even just not having a big enough emergency fund is a sign you are a bad credit risk. If you don't change your ways this could take longer than 7.5 years to clean up. You might still be allowed to get deeper in debt buying a cell phone and other things on credit but it is time to straighten up and take responsibility like an adult.
2007-12-28 05:32:06 · answer #3 · answered by shipwreck 7 · 0⤊ 0⤋
You could go to the nearest credit counseling service and see if you can set up a payment plan. Or you could see a lawyer (who advertises first visit free for bankrupcy) about doing bankrupcy (depending upon how high the bills are).
2007-12-28 05:30:36 · answer #4 · answered by Anonymous · 0⤊ 1⤋
don't let them girls lead you astray..trust me your not the only one who went overboard this christmas...pay what you owe when you can..even if it's just a little...as far as them hounding you remember there's two people worried about those bills you and the people you owe...there only needs to be one worried and that's the people you owe...HAPPY NEW YEAR!!
2007-12-28 05:39:53 · answer #5 · answered by cochise 4 · 0⤊ 0⤋