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The O | Will it affect my credit? |
I have two other roommates and we split the bills every month. One of my roommates is terrible about paying and causes us to be late every month. My name is on the accounts, but the most information they have about me is the last four digits of my social security number. My question is, does a company need to have your entire social security number to lower your credit score, or is just the name enough? |
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Barbara2010
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If they have your name, that's all they need. They already have your address. Paying bills late is a deadly sin in the credit agency world. Depending on where you live, you may be able to get one free credit report from each agency every year. If you have that right, go ahead and request a report to see where you stand.
Have your name removed from the bills or be certain they are paid ahead of time. Those are the only options of which I can think. |
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SlimMick
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Rent and utility bills are NOT reported to the credit bureaus like credit card payments. They will only be reported if either accounts get sent to collection agencies, which then may report the account...Otherwise...no. |
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bdancer222
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Creditors do not need your social security number to report negative items to the credit bureau. They only need your name, address, and DOB.
If these bills that your roommate is paying late are utility bills, it is unlikely they will be reported to the credit bureau unless you fail to pay and the account is turned over to a collection agency.
Howver, constantly paying a utility bill late isn't good for your history with that utility. Are you making the late roommate pay the late fees every month? Since the bill is in your name, pay the bill on time including Mr. Late's portion. Then collect his portion plus the late fee the utility would have charged. |
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spanner
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Realistically, it might affect your credit score. You do not mention where you live and in which country; however, I suspect that a credit rating operates roughly the same in almost every country where the population is influenced by shared financial institutions such as banks. If you privoided your social insurance number to a company or a lending institution, it would have your social insurance number, but not all institutions will necessarily divulge it to the credit rating companies.
If you look at the following link and scroll down to the heading about what factors affect your credit rating, you will notice that bill payment history is included in the factors, as well as the individual's history of payment of loans. The size of the debt as well as the frequency of defaulting and making late payments also is taken into consideration. Time lapses would be taken into consideration, and having gone for a long time without late payments and/or default would bring it up.
http://www.canadaone.com/ezine/may05/consumer_credit_ratings.html
I suspect that some amount of secrecy exists regarding credit ratings. Having a lot of money will not necessarily make it high or low. it is other factors that come into operation.
However, I think it is no big deal to have to worry about. I am not sure who would have a perfectly clean credit rating. Furthermore, a special mathematical formula allegedly is used to calculate the credit rating. I do not have it, I I cannot tell you where you would be able to get hold of it. I guess you could read into it. |
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golferwhoworks
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they need it all but if it utilities they do not report unless you totally default |
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Cat
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They have more than the last four digits. They just don't print the whole social on bills, and written correspondence, for YOUR protection. It keeps people other than you from getting your SS# by just looking at your statement.
And yes, if it's in your name, and it's constantly late, it's possible for it to affect your credit rating. But only if they're mad about it. They usually don't report to the credit bureau. It's easier for them to just cut you off if they're not getting paid. More effective, too.
If you're not stiffing them outright, I wouldn't worry about it.
Though I might look for a different roommate. |
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OC1999
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Since you are talking about roommates you are probably talking about utility accounts such as Electricity, Gas, Cable.. These do not get reported on a monthly basis, and even if they were you would have to be at least 30 days late before the late payment would end up on your credit report. So as long as this is not happening other than the possible late payment fees it won't end up on your credit.
Now, if you get to the point where the account is turned over to a collection agency after a few months of non-payment then yes they can place it on your credit report. A SSN is the quickest way they can do this. By the way when you signed up you did give them your SSN, but once they do the credit app the only thing that any of the customer service people can access is the last 4. If you go delinquent that department would still have access to the full number. But even if they didn't they can also do it with just your name and address.
The best thing to do if you feel they may flake out on you is to either make sure you pay it on your own and have them pay you back. Another alternative is to either get them added to the account(so they know they are responsible), or close out the account in your name forcing them to open it in their name. Then you can pay your part but if they don't it is on their report. |
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bearr41
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What bills? Utilities do not report to a credit bureau. They are not extending you credit. |
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I Buy And Sell Houses
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If all a company really knows--big "if"--is the last 4 digits of your social security number, then the creditor would be unable to report late payments to a credit bureau.
However, are you absolutely sure that's all the information they have on you? How about your name? Your address? Maybe your previous address? Any other creditors? (Did you have to provide other creditor references before opening the account...utilities, I assume.) If they have any of those, they have enough to report you.
What you really should do is get copies of your credit reports. Get all three. You can check online; there's a way to get one from each bureau at no charge. And if you're requesting it yourself, it won't negatively affect your score.
So, rather than speculating about whether your credit's being affected, why not check and find out for sure.
Meanwhile, is there a way to reassign the responsibility for paying the bills. Maybe you and the other responsible roommate can alternate, and simply collect whatever money is owed from the irresponsible one.
Hope that helps. |
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