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If I have a bill in collections...

The longer it sits does my credit go down more? and does the bill go up? I let my Mom put her phone in my name... Needless to say she let the bill go and i didnt know about it. Now its in collections. I've never had anything in collections so im not sure about whats going on or whats happening.. She said she'd pay it in Jan when she got her income tax back.. But I dont want it to sit that long if its going to mess my credit and stuff up

Answer Question

Asked by Anonymous at 6:00 PM on Aug. 30, 2009 in Money & Work

Answers (5)
  • Call them and talk with them a lot of times they work with you, so your credit doesn't get screwed, but if you don't pay then yea, and there can be late fees, so I'd call and work something out.

    Answer by MommaRox4683 at 6:04 PM on Aug. 30, 2009

  • It lowers your credit score, I would take care of it asap the longer it sits there the lower your credit score will get

    Answer by looovemybabies at 6:06 PM on Aug. 30, 2009

  • It lowers your credit score. Anything negative affects your credit score. I would pay it off and then have your mother reimburse you in January. Have her sign a promissary note so there are no issues later. And NEVER put anything in your name for someone else. You are the one who is responsible for that bill then.

    Answer by tyfry7496 at 6:33 PM on Aug. 30, 2009

  • Only if the collection agency reports it to the credit  bureau. If you are making payments they won't report it.


    Answer by Anonymous at 6:38 PM on Aug. 30, 2009

  • First, is this phone shut off? If you haven't already you need to call and cancel this phone and like others said you need to work out a payment with the cell phone provider. Your credit will be screwed, the faster you get it paid, the faster your credit will repair itself.

    Answer by baboosmom at 1:50 PM on Aug. 31, 2009

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