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*Credit Topic * PLEASE PLEASE PLEASE HELP ME

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*Credit Topic * PLEASE PLEASE PLEASE HELP ME

Hey my name’s rich & I’ve been a victim to a scam where i was told that i could take out multiple iPhones worth 1200$ each under my name, they’ll sell the phones & pay me for it, they also told me that it won’t effect my credit score, something about they changed the number ports so it won’t effect it so i went for it, even tho they paid for the down payments. I still received a bill from both Verizon & AT&T under my name & i believe my credit is on its way down the dump, I’m 19 & my credit score is 695 but i have 2 more weeks until the bills are due & each of them is about 350$. I don’t have 700$ to hold them off & i believe I’m actually almost 4000$ in debt with both companies combined. I need help with what i need to do to protect myself from this harm so my credit score won’t get ruined
Message 1 of 21
20 REPLIES 20
Community Leader
Super Contributor

Re: *Credit Topic * PLEASE PLEASE PLEASE HELP ME

Dont do or be part of get rich quick scams. Dont use your credit to make someone else money and keep your info away from people who have no need for it. Unfortunately, if you owe these companies, its you who will pay the consequences not those scammers. Why else do you think they want to use your credit. Good luck i hope you learn from this .
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Message 2 of 21
Frequent Contributor

Re: *Credit Topic * PLEASE PLEASE PLEASE HELP ME

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...

Message 3 of 21
Super Contributor

Re: *Credit Topic * PLEASE PLEASE PLEASE HELP ME

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.








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Message 4 of 21
New Member

Late Payments

How badly can 2 late phone bill payments affect your credit score, how many points it will drop ?
Message 5 of 21
Community Leader
Valued Contributor

Re: Late Payments

Phone bill? Unless it goes to collections, I don’t think it will affect your credit score at all. 

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Message 6 of 21
Valued Contributor

Re: Late Payments


@2krich 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.


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Message 7 of 21
Valued Contributor

Re: Late Payments

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.

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Message 8 of 21
Valued Contributor

Re: *Credit Topic * PLEASE PLEASE PLEASE HELP ME

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!

Rebuild started in 2014  -  $100k+ unsecured credit in 2017  -  $250k+ unsecured credit in 2019.

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Message 9 of 21
New Member

Re: Late Payments

I haven’t paid them yet, they aren’t even late yet i jus don’t have the money
Message 10 of 21
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