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Old 12-19-2008, 03:25 PM   #1
BGPunk2001
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Default Hoping to buy a house next year and have a question about my credit score.

So, I have a good credit score and the wife and I are planning to buy a house in the next 6 months. Now, some of you know about my Verizon threads and the crap that they have put me through.

I am disconnecting my service with them because their customer service and billing departments have done nothing but **** up my life and finances since the first day I got the service. They want a $149 early disconnect fee from me now. I feel that it is not my duty to pay them this fee, as they have lost me probably 8 hours of work time, personal distress, and $2000 of my money that I never owed them.


Here is my question:

If I let the $150 go to collections, how badly will this affect my credit score or my standing to get a loan for a house?
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Old 12-19-2008, 03:27 PM   #2
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don't let the $150 go to collections. it is not worth the risk. even if it only affects your score a little, you run the risk that you will not get an optimal rate... which will cost you far more than $150. there is also a risk that they ding you 50+ points or so, which will certainly cost you more
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Old 12-19-2008, 03:27 PM   #3
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My $.02...I wouldn't. Not in this day & age with lending what it is.


But isn't there some method where you can write the credit agencies regarding things like this and with an appeal it can be removed?
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Old 12-19-2008, 03:28 PM   #4
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I mean, my credit score is around 750 sooooo I don't know how much it would hurt me. At this point it isn't even about they money, I do not want to pay them on principle.
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Old 12-19-2008, 03:29 PM   #5
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destroy all the data on every credit reporting agency's computers....


no more credit problems.
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Old 12-19-2008, 03:29 PM   #6
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Quote:
Originally Posted by BGPunk2001 View Post
Here is my question:

If I let the $150 go to collections, how badly will this affect my credit score or my standing to get a loan for a house?
You will be forced into bankruptcy and have to live in the street. By day, you will push a shopping cart and collect recyclables, while your wife will have no choice but to become a common whore in order to pay for the new addition you want for your cardboard box house.
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Old 12-19-2008, 03:30 PM   #7
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Quote:
Originally Posted by hotelprowrx View Post
My $.02...I wouldn't. Not in this day & age with lending what it is.


But isn't there some method where you can write the credit agencies regarding things like this and with an appeal it can be removed?
what he said, we are currently refinancing and they have definitely tightened down the screws on lenders. Even with my credit score of a 650 and my wife's of 730 it's still hard to get the best rate without putting down a huge chunk of money. Suck it up, pay off the $149 disconnect fee and aviod them like the plague.

That $149 could easily cost you a couple thousand dollars later on.
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Old 12-19-2008, 03:30 PM   #8
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Yes, Verizon is an evil corporation and they truly don't care about their customers. The bottom line is money, nobody gives a ****". Yes, it is wrong what they have done to you.

However, here is my question to you: If you plan on buying a house (expensive) why would you let $150 potentially get in the way of that? Standing up for what you believe in is an excellent character trait to have, but so is common sense.
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Old 12-19-2008, 03:30 PM   #9
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Probably enough that you will pay 100X that amount in higher interest rate fees down the road because of it.

Just pay them, take them to court.
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Old 12-19-2008, 03:32 PM   #10
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Dont do it. The decrease in your score could result in a higher rate (obviously) and the slightly higher payment will cost you more than $150 in the long run. Plus that collection will be on your report for quite a while. I had one over 10 years ago that still shows on my report although it has no impact on my score at this point.
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Old 12-19-2008, 03:34 PM   #11
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Quote:
Originally Posted by BGPunk2001 View Post
I mean, my credit score is around 750 sooooo I don't know how much it would hurt me. At this point it isn't even about they money, I do not want to pay them on principle.
well if you put it THAT way...

take the 30-50 point hit
yoru loan rate goes up
longrun you pay 300-400 dollars more per year because gosh darnit you were RIGHT and dang nabit those cellular tel-e-phonics people really tanned your hide and chapped your linnen.....DO IT FOR THE PRINCIPAL!!! STAND UP TO THE MAN





idiot.
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Old 12-19-2008, 03:37 PM   #12
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idiot.

Shut up noob.

I am asking a question. I was making my point. I am considering the advice in this thread.
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Old 12-19-2008, 03:37 PM   #13
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Quote:
Originally Posted by The Tree View Post
well if you put it THAT way...

take the 30-50 point hit
yoru loan rate goes up
longrun you pay 300-400 dollars more per year because gosh darnit you were RIGHT and dang nabit those cellular tel-e-phonics people really tanned your hide and chapped your linnen.....DO IT FOR THE PRINCIPAL!!! STAND UP TO THE MAN





idiot.
Tell us how you really feel.

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Old 12-19-2008, 03:38 PM   #14
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Don't let it go to collections, it will bring your score down - by how many points is a matter of debate since all the scoring algorithms are proprietary. But it may mean a difference in getting a better vs good rate - this is the long run, as someone stated, will cost a way lot than 150.

A better way to go about this is to pay the fee, and then to dispute the charges.
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Old 12-19-2008, 03:43 PM   #15
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Quote:
Originally Posted by BGPunk2001 View Post
I mean, my credit score is around 750 sooooo I don't know how much it would hurt me. At this point it isn't even about they money, I do not want to pay them on principle.
p.s. I am refinancing right now - some other thread. According to my loan officer, the cut-off score for their best rate is 740. So yes, in this scenario a slight drop in your score would put you in a different rate.
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Old 12-19-2008, 03:45 PM   #16
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Quote:
Originally Posted by The Tree View Post
well if you put it THAT way...

take the 30-50 point hit
yoru loan rate goes up
longrun you pay 300-400 dollars more per year because gosh darnit you were RIGHT and dang nabit those cellular tel-e-phonics people really tanned your hide and chapped your linnen.....DO IT FOR THE PRINCIPAL!!! STAND UP TO THE MAN





idiot.

who is the real idiot here? the idiot wastes time calling a guy asking a question an idiot or the guy calling the guy an idiot over the internet?
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Old 12-19-2008, 03:47 PM   #17
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If for some reason you get a ****ty rate but find the same exact house down the street for cheaper, just foreclose your first mortgage and things will be great!

chris619
dr_wheel


Full_Clip follows this strategy always.
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Old 12-19-2008, 03:48 PM   #18
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its not worth $150. that said, i would pay it and then dispute it.
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Old 12-19-2008, 04:00 PM   #19
BGPunk2001
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I guess I will suck it up then.


That is unfortunate, because I would really like to stick it to them.
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Old 12-19-2008, 04:09 PM   #20
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we all would. its kinda funny you mention that though.

I got a sprint phone and service back in 2000. The service was horrific. drop calls all the time. I had 15 days to cancel and not a pay anything, which I did. When i recieved the bill I called them, explained it, and they said i had to pay still. I refused. Next thing i know I cant get a loan a sears for a new washer. So 4 yrs later it is still showing up on Equifax as a defeult on a bill.

I dig up everything and find the collectors name and end up paying the bill if they would send a letter saying it was a mistake and the entire item be removed from my credit info. They do and it took 2 years (calling, faxing, waiting for the next month - rinse repeat) before finally equifax removed it from my credit history.

Today i signed all the paperwork for my refi (at 4.5% ) and my friend who is the broker says. Huh, thats funny no file at all exists on equifax for you it showed no history no existence of me at all. My trans union and experian scores were really high though.

all that to say, $150 is def not worth all the time you will spend cleaning up the mess ...
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Old 12-19-2008, 04:13 PM   #21
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do not let this go to collections.

When refinancing a while back we found out comcast took out a collection in my wife's name for a cable box from an apartment 4 years ago that we thought we had returned. Just this simple collection for $100 would have meant a 1.25% difference in mortgage rate. We ended up not including her name/credit on the mortgage in order to get the better rate.
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Old 12-19-2008, 07:34 PM   #22
Jessie James
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Not only will it go to collections and trash your score, you will have to pay it off anyway before you can get a loan. You may as well suck it up and pay it now instead of later with penalties. Banks won't loan you money if you have outstanding collections.

Having a collection to a phone company also often means you will be assessed a deposit for ANY other utility you open, such as gas, water, electric, cable, and of course other phones. When they do a credit check they will see a collection to another utility and will bone you.

You'd have to be completely retarded to not pay it.
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Old 12-19-2008, 07:52 PM   #23
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Quote:
Originally Posted by Akirasoft View Post
do not let this go to collections.

When refinancing a while back we found out comcast took out a collection in my wife's name for a cable box from an apartment 4 years ago that we thought we had returned. Just this simple collection for $100 would have meant a 1.25% difference in mortgage rate. We ended up not including her name/credit on the mortgage in order to get the better rate.
Is there a place one can go to check on these things? I had my credit run at a dealership about a year ago and it was fine, but I have since moved and I am curious if there is anything outstanding that needs to be tended to.
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Old 12-19-2008, 08:04 PM   #24
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mobile phone bills turn up on your credit score. plus, collections would be bad.
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Old 12-19-2008, 08:20 PM   #25
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If I was in your shoes, I would steal as many new cellphones from my local VZW store then sell them on craigslist.... about $2150 worth. I would give them their $150 termination fee, then burn down the store 3 months later after buisness hours.

VZW ****ed me out of $500 in a similar manner. I paid the termination fee, which was about $200 at the time. I have never looked back, getting rid of them was the best choice I have ever made as a consumer.

If you need a wheelman, I am ****ing down to ride!
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