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    what effects will cancelling a phone contract have on a credit rating?

    Just curious,

    6 Comments

    Depends if you pay yourself out of the contract or have debts outstanding, ie refuse to pay months 12 - 18 in an 18 month contract. The former will have no effect on your credit rating, the latter will.

    Original Poster

    sickly sweet

    Depends if you pay yourself out of the contract or have debts … Depends if you pay yourself out of the contract or have debts outstanding, ie refuse to pay months 12 - 18 in an 18 month contract. The former will have no effect on your credit rating, the latter will.



    say if you had xxx amount of months left and you had to pay xxx amount of money off, but you cancelled the direct debit from the company your on contract with.

    Then your credit rating would be affected. You agreed to a contract, and if you cancel this without atleast paying the rest off, your credit rating will be affected. However, i believe if you done that.. and say paid it off 2-3 months down the line.. they would sort it out.. Might be more hassle though.

    Renege on your agreement, and it will have a negative impact if the company in question send the information through to the respective CRA's.

    See if you can lower your tariff.
    ie £30 to £20 a month wait a few day and the stop your account a bit less to pay off.
    If lost your job they may let u pay it off a bit at a time.
    But lower your tariff if poss first

    Banned

    kyleg44

    say if you had xxx amount of months left and you had to pay xxx amount of … say if you had xxx amount of months left and you had to pay xxx amount of money off, but you cancelled the direct debit from the company your on contract with.



    it would show as missed payments then a default (probably)
    the phone will likely get barred too so don't sell it!

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