Utility Company reporting - what impact does it have on Score?

[Anonymous]

I am curious if anyone has any insight into how late payments on a utility account impact one's FICO score.  I know not all Utility companies report, but in SE Wisconsin where we have WE Energies, they do report and will only begin derog reporting at 60 days past due.  Because of their failure to post my payment according to the timeline their CSR advised me, my statement cut after I made my payment (in person) but prior to the payment posting.  As a result, they're going to hit me with a 60 day past due reporting.  I plan to dispute heavily with them as I made my payment within the guidelines that I was given by their CSR, but I'm just curious on the score impact in the meantime and for future reference.

Thanks-

[MarineVietVet]

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@Anonymous wrote:

I am curious if anyone has any insight into how late payments on a utility account impact one's FICO score.  I know not all Utility companies report, but in SE Wisconsin where we have WE Energies, they do report and will only begin derog reporting at 60 days past due.  Because of their failure to post my payment according to the timeline their CSR advised me, my statement cut after I made my payment (in person) but prior to the payment posting.  As a result, they're going to hit me with a 60 day past due reporting.  I plan to dispute heavily with them as I made my payment within the guidelines that I was given by their CSR, but I'm just curious on the score impact in the meantime and for future reference.

Thanks-

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The initial effect of any new derogatory depends on what kind of credit file you already had. The cleaner your file and the higher your score before the negative is posted the more harm is done. Here is a thread talking about Credit missteps.

IMO no one can accurately predict exactly how much this new 60 day late will hurt you but it won't be pleasant and will continue to hurt for probably two years before it begins to be looked at the same as a 30 day late. But everyone's situation is different so only time will tell.

Hopefully you can get this taken care of before it is posted.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[RobertEG]

Putting aside, for a minute, their policies, I dont see how your scenario would warrant the reporting of a 60-day late.

That seems to depend upon your account agreement with them as to when payment dates are posted.

For example, assume they billed you on 6/1/2010, setting a billing due date of 7/1/2010.  For delinquency purposes, your date of delinquency would be 7/2/2010.

For credit reporting purposes, they could not report this as a 30-day delinquency until 8/2/2010, if still unpaid by then.

They could not report a 60-day delinquency unless the account continued to remain delinquent until  9/2/2010 and therafter.

Where your payment fell within this time line is a dispute between you and the OC.