How does an unpaid Verizon home phone bill affect my credit?
It will be reported to the credit bureaus, this collection account, even if paid, will remain on your credit report for the legal reporting period of 7 years and 180 days. The collection account will lower your credit score from 50-100 points. It will cause the most damage to your credit in the first two years of being reported. After 2 years the impact will lessen. It is always best to resolve the issue before being turned over for collections, however if you do pay the collection agency, being that it is a utility account, try to negotiate a “pay for deletion agreement” with the debt collector.
