Does not paying parking tickets on time and small violations like that affect your credit rating?

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Posted by Griffin Jennings (MONEY FORUMS: 4, Answers: 0)
Asked on May 6, 2016 3:34 pm
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Hi Griffin, great question.

The short answer: No, But…

Paying parking tickets a little late, being a few days late with your phone bill, utilities, etc., will not generally impact your credit rating. Even your regular debt payments don’t generally have a negative impact on your credit score unless 30 days or more late.

The down side is the small bills, like utilities and traffic tickets, can end up having a negative impact on your credit score if you push this too far. Not all organizations have in house departments to collect debts; some will quickly send you off to a collection agency and the potential for credit damage goes up dramatically.
If you always pay all your bills on time you will build good credit across time. You can get away with occasionally paying a non-reporting entity late – but be very careful doing so, you don’t know where the edge is here until you fall!

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Posted by Peter Neeves (MONEY FORUMS: 1, Answers: 59)
Answered: June 26, 2016 12:32 pm
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