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Will skipping on utility payments hurt credit?
Posted on 4/22/20 at 3:11 pm
Posted on 4/22/20 at 3:11 pm
If they are waiving late fees, shutoffs, etc, will taking advantage of this as basically a free loan have negative consequences?
10
Posted on 4/22/20 at 3:12 pm to PrivatePublic
You bought a utility knife on credit?
Naw main, they won't report you until you're out of terms.
Naw main, they won't report you until you're out of terms.
This post was edited on 4/22/20 at 3:13 pm
Posted on 4/22/20 at 3:16 pm to PrivatePublic
quote:
Will skipping on utility payments hurt credit?
Yes.
I would also imagine that they would go full Lorena Bobbitt on your utilities.
Posted on 4/22/20 at 3:18 pm to PrivatePublic
the honest answer is, no one knows for sure.
This is very unprecidented.
This is very unprecidented.
Posted on 4/22/20 at 3:21 pm to PrivatePublic
It has to. If you're not making payments, you're deemed not as trustworthy for future credit in the eyes of those who lend money. Even considering the pandemic, to the number cruncher you'd probably be a risk.
Posted on 4/22/20 at 3:25 pm to PrivatePublic
Grats on the trashiest thread of the day
Posted on 4/22/20 at 3:28 pm to PrivatePublic
Utili-deez-nutz
Posted on 4/22/20 at 3:29 pm to PrivatePublic
Use your instincts....
Posted on 4/22/20 at 3:31 pm to PrivatePublic
fwiw:
I lived in baton rouge for 10 years until 2006
in 2011 we moved to new orleans and when i tried to turn on electricity fricking Entergy said I owed them 100 something bucks from years before.
it was never on my credit report
I lived in baton rouge for 10 years until 2006
in 2011 we moved to new orleans and when i tried to turn on electricity fricking Entergy said I owed them 100 something bucks from years before.
it was never on my credit report
Posted on 4/22/20 at 3:31 pm to PrivatePublic
Utilities do not report to the bureaus.
That said, pay your bill.
That said, pay your bill.
Posted on 4/22/20 at 3:33 pm to PuntBamaPunt
quote:
Utilities do not report to the bureaus.
This
Although I have seen some utility collection accounts on credit reports, but they had been sold to a debt collector.
quote:
That said, pay your bill.
Posted on 4/22/20 at 3:37 pm to PrivatePublic
Speaking for a municipal utility in Texas here, but the investor owners like AEP do the same thing. We only report our to credit services if you stick us with a bill or have to write it off. We do track your payment history internally. This could lead to higher deposits required, etc.
If you are honestly struggling give your utility a call and they can work out a payment plan. If you are running a scam, pay your damn bill. You use it, you owe it.
If you are honestly struggling give your utility a call and they can work out a payment plan. If you are running a scam, pay your damn bill. You use it, you owe it.
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