Tilted Forum Project Discussion Community - View Single Post - Does bouncing a check hurt credit rating?

SirLance · 01-08-2007, 04:09 PM

Not directly. Make a habit of it, though, and your bank may close your account.

Indirectly, in one of two ways:

1. You wrote the check to a creditor that reports to a credit reporting agency, and you do not make the check good prior to the due date. This would harm your credit rating in that you would be reported as having a late payment.

2. You wrote the check to an entity that does not report to a credit reporting agency, but that entity sends the check to a collection agency that does report. You'd then have a collection on your credit report. However, they'd need your social security number.

01-08-2007, 04:09 PM	#3 (permalink)
SirLance Junkie Location: In the middle of the desert.	Not directly. Make a habit of it, though, and your bank may close your account. Indirectly, in one of two ways: 1. You wrote the check to a creditor that reports to a credit reporting agency, and you do not make the check good prior to the due date. This would harm your credit rating in that you would be reported as having a late payment. 2. You wrote the check to an entity that does not report to a credit reporting agency, but that entity sends the check to a collection agency that does report. You'd then have a collection on your credit report. However, they'd need your social security number. __________________ DEMOCRACY is where your vote counts, FEUDALISM is where your count votes.