Quote:
Originally posted by Recoil
Great Thread NoSoup
I'm 20 yrs old and the family moved about a year ago. Unfortunately I forgot to change the address for my Cell Phone company and soon enough realized the mistake, however it had been 40 days since the bill was due when I did pay it. Most of my bill are paid on the same day I receive them(online) and this was my first delinquent payment.
Its greater than the 30 days you mentioned but I never received any calls or letters so I dont know if it got in the hands of a collection agency. So my question is how much exactly does this put my credit in bad light? ....or....How many late payments do I need to get turned down for a mortgage?
Thanks
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Thanks!
Well, you may be in luck. It may be possible that your cell phone company doesn't report to the bureau unless you go to collections. Although you were late, generally you must be much later for it to go to collections. (read 90 days + as a general rule of thumb) As far as late payments affecting your mortgage, it depends on the institution. Hopefully it didn't even report, but I would doubt 1 late payment (properly explained) would result in you not being able to obtain one. However, you may suffer a higher interest rate due to a lower score.
After a little time has passed, I would get a copy of your report and check to see if it reported. If I had to guess, I would say that there is a 90% chance that it did not.
If you need any more help, don't be afraid to ask!
Thanks for Posting!