What happens when someone is really late on bills all the time? Not paying them?
My mother already has my name on the cable/internet bill which she is ALWAYS late on, she has many delinquent notes. She wants my name on my sister's phone bill in order to give her a cell phone, but I don't trust that she will pay the bill on time. She can't open the accounts in her name because she has various business where she owes hundres of dollars that she doesn't want to pay. Since her bank accounts are usually messed up and she is frequently out of the country she will have to use my debit card to pay them. I don't want to go down that path, so I said no when she asked me to put my name on another account. Am I wrong for that? What happens when one constantly owes money and does not pay the bills they owe the company?
I guess I am only worried cause I am 20 yrs old and I know that I will already have college debt, I don't want to owe companies that I don't use (or may use in the future and can't access cause of her debt) and have to rely on my mother to pay the bills that SHE OWES.
- Karin CLv 79 years agoFavorite Answer
I'm sorry to say that your mother has probably already screwed your credit rating up beyond all redemption. Late payments and accounts going to collection will knock your credit rating down severely.
My advice to you: time for some tough love for your mother. Get your name taken off all accounts she is using, and don't let her use your name to secure any credit of any kind. Get copies of your credit reports from all three agencies (TransUnion, Equifax and Experian, this web page gives their websites http://www.bankrate.com/finance/credit-debt/contac... ). You need to see what damage your mom has done to your credit.
I don't know what your mom's basic issues are, but it sounds like she is teetering on the edge of being without any resources. I know it's hard to deal with someone you care about but you need to protect yourself. You mom may have damaged your credit so severely that you'll have trouble getting financing for things like a car loan or a mortgage.
This can even impact your ability to be in a relationship with someone. When people get serious about being in a long-term committed relationship, they start to look at the financial parts of each other's lives. If your credit has been wrecked, any person who gets into a relationship with you and combines finances with you is going to have to deal with your problems too.
You need to curb your mom's access to your credit. If she has problems, she's supposed to be a grown-up and deal with those problems, not make them your problems too.
- Steve DLv 79 years ago
Do NOT...NOT...NOT let your mother open any more accounts under your name. In fact, you should be calling the cable company and closing that account. At some point, if she continues to be late on the account, the debts will be turned over to a collection agency who report the account to the credit bureaus and mess up your credit. This is not the road to go down.
- M WLv 79 years ago
Your Mom has probably already opened accounts in your name and your credit is probably trashed by now.
You need to get a copy of your credit report so you will know for sure what has happened. You can put a "freeze" on your credit so no new accounts can be opened.
Don't wait, start checking on it right away. It could also cause you problems when you apply for student loans.
Until you get your actual report from Transunion or one of those, go to quizzle.com or creditkarma.com and they will give you for free, an overview of your credit history and a ballpark score.
- Kibble BitsLv 59 years ago
Your Mom can't be trusted. You need to get a copy of your own credit report and see how much damage she has done.
Contact the credit reporting agencies and ask them to put a FREEZE on your account. Hopefully you can stop her.
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- ?Lv 45 years ago
They would raise the bill and since you can't pay them till the 1st it would probably get disconnected.
- SamLv 79 years ago
Actually if you have cable you should cancel since you can't afford it. For internet look at cheaper options like DSL at a slower speed or clearwire, etc.
- smahadevan39Lv 79 years ago
This will unnecessarily cost you more besides slowly spread loss of reputation.