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That is a scam known as 'phone credit muling'. You're in a bad spot...as you've signed contracts with multiple cell providers & you cannot cancel those contracts without returning the phones. You're legally on the hook for everything...I'm guessing you were already in a hard spot financially as you wouldn't have resorted to this if you weren't. You should google the term I mentioned above...I'm not going to research it for you BUT I can tell you you're not in for an easy time here...
Unfortunately, the only way out is to pay off the phones and cancel service, including ETFs. If you let them charge off, it will do a number on your credit. Also, cell phone providers aren't known to Goodwill anything later down the road and if you ever need service from them, they'll have this on file.
Only thing I could recommend would be to find out how much it would be to close those accounts and try to get a personal loan to cover them while your credit is still decent. You'll end up with a loan, but the issue will be handled. Then, contact an attorney about legal action against the scammers.
Phone bill? Unless it goes to collections, I don’t think it will affect your credit score at all.
@Anonymous wrote:
How badly can 2 late phone bill payments affect your credit score, how many points it will drop ?
Are you seeing them on your credit report or did you just pay them late?
If you see them on your credit report you will lose a lot of points but everyone's score is different. I would imagine that 2 lates on a report could cost you about 60 points.
If you just paid them late but not over 30 days late, they won't affect your scores.
Typically you won't see late phone payments on your reports unless they go into collections.
If you are current now, it will not affect you.
Once your account is written off and in collections, they may report it to your credit reports.
If you were late then paid then late then paid, you are fine.
I would not make a habit of it.
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
You need to explain to both carriers and that you really messed up and set up a payment plan.
Obviously, cancel the phone numbers so you are not paying for cell phone plans on top of this.
You have to pay, period.
If you know the people that took advantage, file a small claims lawsuit.
Do not do anything like this, loan friends money you need back, cosign for anyone other, or anything similar until you are wealthy enough to not worry about money.
GL!
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!