Utility Bills – do they show up on my credit report?
Your Credit Minute Show Notes:
- 00:01 YouTubers, what’s going on? This is Nik Tsoukales with Key Credit Repair. So I want to talk to you guys today about utility bills. Check this out, actually. I will show you, I got my electric bill today, okay? So, it kind of inspired me to talk about utility bills. So, big question I get all the time is does my electric bill, do my utility bills report to credit? 99% of the time, they don’t.
- 00:23 There are a few markets like Detroit, Michigan, specifically, um, DTE, um, where you will find, uh, your ongoing utility bill’s going to report to the three credit agencies, okay? It’s not very common though, okay? Most of the time, they will not, okay? But what will report to the credit agencies very quickly is a defaulted, uh, utility bill.
- 00:47 So let’s say you don’t pay your electric bill and it falls 90 days behind. The utility companies are super sophisticated with this, their systems will auto batch that data to the credit agencies and all of a sudden you have a 50, a 100, a $500.00 collection that dings your credit report. I’ve seen some people with absolutely perfect credit. They make great money. There’s no financial hardship. There’s no inability to pay.
- 01:11 There really even, there really even isn’t a question of credibility, but they miss a utility bill, they’re on vacation, all of a sudden their credit is pretty much totally destroyed, um, from a credit score perspective, or they’re losing a quick hundred points. Um, that is something that can be remedied by paying off the debt very quickly, reaching out to the utility company and asking them to lift it from your credit report.
- 01:32 If they’re not willing to, which I would say 75% of the time they’re not going to be willing to, that’s a phone call that you definitely want to make to us and we can help you and approach a strategy on how to get the actual record deleted from the credit report. Guys, this is Nik Tsoukales with your quick credit minute. Have an amazing day, and thanks for checking us out every day. Bye.