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Surprising Things That May End Up on a Credit Report

Broken PIggy BankKeeping a credit report in healthy condition requires constant vigilance and monitoring. A person might be surprised as far as some of the items that end up on a credit report that aren’t generally associated with those documents. Everyone expects things like vehicle loan payments, mortgage information, and credit card details to show up on a credit report, but there are a lot of other things that could negatively impact a credit score.

One of the reasons why certain items could end up on a credit report is because of the ease with which any type of company or group can report negative payment activity to a credit reporting agency. Unfortunately, the only time most of these obscure fines or bills end up on a credit report is when someone is behind on their payments, so this means these items very rarely improve a credit score. Sometimes it’s also possible to request an entity with which a person has an account report positive payment information.

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Some of the particularly odd things that might end up on a person’s credit report include:

1. Private entities and professionals

When a person fails to pay a contractor for work done on a home refurbishment, the unpaid debt could end up on a credit report. Other types of payments made to private individuals such as child support or alimony could also end up on a credit report. These payments are actually reported at all times whether they’re delinquent or not, so it’s important to keep up with child support to maintain a healthy credit score.

2. Private utilities and services

An unpaid cell phone bill might end up on a credit report if the owner of a cell phone doesn’t pay their bill on time. It doesn’t take that long before that type of negative credit information ends up on a person’s credit report. In the past, an unpaid cell phone bill wouldn’t show up on a credit report until it had been sold to a debt collector, but these days the original creditors (and utilities) are reporting unpaid debts to the credit reporting agencies.

3. Insurance payments and premiums

One of the biggest reasons why people go into bankruptcy these days is due to unpaid medical debts, and these debts can end up on a credit report very fast once they’re sold to a debt collector if they’re not paid on time. In addition, unpaid insurance premiums might land on a credit report within a few months of policy cancellation due to non-payment. You can find more information about insurance premiums at buyhomeinsurance.net.

4. City fines and payments

When the city can’t collect fees for a bill, they are more likely than ever to report that negative payment information to the credit bureaus. Something as innocent as an overdue library book and a fine could end up on a credit report these days. Because cities around the United States are so strapped for cash, the option for reporting unpaid debts on credit reports is an attractive step for many municipalities.

The best way to avoid having anything negatively impact a credit report is to be aware of any past-due payments, and make sure that arrangements are made to pay those bills. If an individual finds that he is unable to pay his debts, making phone calls for payment arrangements may reduce the likelihood of those fines ending up on a person’s credit report.

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One Response to "Surprising Things That May End Up on a Credit Report"

  1. Balancy says:

    You should alawys avoid payment plans for already defaulted debts .esp. old defaults. This will not help your credit at all and the collection agency will probably take your money for six months then resell the account to a new agency. Settle the debt for less all at once like 25%, with all terms in writing first.Paying defaults does not really help your credit.How to pay collection accounts:

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