Can an unpaid cellular phone bill be reported on my credit report?
by
Scott Bilker |
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Scott,
Can an unpaid cellular phone bill be
reported on my credit report? I am in a dispute with a cell company
over a bill that was paid by check and not credited to my account.
Thank you for your help.
Theresa
Theresa,
Yes. It is possible that your
cellular phone company can report trouble with your account to the
credit bureaus. And it can go much further than that! Credit card
companies continuously review your credit score and if they see that
number drop they will raise your rates! That's called Universal
Default.
I talked about Universal Default in a
prior article titled, Penalty
Rates.
 Chances
are that they're not going to report it right away because the
matter is still in dispute. If you suspect that they may be
reporting it, you should get a copy of all your credit reports. I
recommend getting them all at MyFico.
(I've used their services many times.)
The best resource for credit report
law is the FTC
(Federal Trade Commission). The law governing credit reporting is
The Fair Credit Reporting Act (summary of law here).
Regards,
Scott
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