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Last but not least: Moving

Established Contributor

Last but not least: Moving

5. Moving

How can the simple act of moving affect your credit score? It's simpler than you think. Even if you forward your mail to your new address, bills -- including utility bills -- can and often do get lost in the shuffle. "Suddenly, someone who's never been late has a collections account reported to the bureaus and the damage would be just as severe as with a delinquency," Watts says. "A $5 library fine could suddenly lower someone's score by dozens of points."

The bad news: You'd think a collections agency would call you about that unpaid bill before reporting it to the bureaus, but that's not always the case, says Credit.com's Ulzheimer. "They'll take the lower-dollar collections accounts and just report them to the bureaus without even contacting the consumer," he explains. "It's easier to report to the bureau rather than wasting time trying to collect $80." Then when you try to buy a house or car and get denied because of the collections account, you'd have to track down the agency yourself and pay up. An efficient business model, to be sure, and all the more reason to be vigilant about paying your bills.
Message 1 of 9
8 REPLIES
Established Contributor

Re: Last but not least: Moving

This did happen to me and dh when we moved to our new house and now we have a late on our credit reports from SHell of all people because our bill got lost in the mail, the account was zero, but they charged us an annual fee and we didn't get the mail until a month or so later in our forwarded mail.
Message 2 of 9
Established Contributor

Re: Last but not least: Moving

What a stupid  system....so sorry myhearts b/c I know you of all ppl have truly been working on your credit..and scores...
TU 662 EQ 644
EX 643
Message 3 of 9
Super Contributor

Re: Last but not least: Moving



myhearts07 wrote:
5. Moving

How can the simple act of moving affect your credit score? I



Well, close a mortgage and get a new one - bad
 
Close a second mortgage or HELOC - bad
 
get stuck with useless CCs from a local store that they then close for inactivity - bad
 
get inqs from mortgage, bank, utilities, cable, cell phone - bad.
 
have to change you bank account where you have all the online payments set up - bad.
 
have to change email address - bad
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 4 of 9
Established Contributor

Re: Last but not least: Moving

Midnight,
 
If all you say is true, we are jacked up!!!
Message 5 of 9
Established Contributor

Re: Last but not least: Moving

JACKEDUP totally....
TU 662 EQ 644
EX 643
Message 6 of 9
Super Contributor

Re: Last but not least: Moving



myhearts07 wrote:
Midnight,
 
If all you say is true, we are jacked up!!!



There is a possibility I might have to move - I am terrified!

 

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 7 of 9
Established Contributor

Re: Last but not least: Moving

Uh-ohhhhhhhhhhhhhh...  Where on earth would you stay and how would you get your mail?  You know your fico scores are going to drop, right?
Message 8 of 9
Established Member

Re: Last but not least: Moving

Before I move I call and send in the smallest payment to avoid this kind of situation.
8.25.07----656
7.28.07----637
5.20.07----580
Message 9 of 9