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How do late fees on rent affect a credit score?
April 11, 2012 at 07:45 PM
My roommate and I share a 2 BR apartment. He pays $705 per month and I pay $500. Our rent is paid online. He forgot to pay his portion by the end of the month and we got a letter addressed to both of us to pay the remaining balance ($705) plus a $35 late charge. He has more than enough money, it was simply a case of forgetting. He has since paid his portion and the late fee. My question is will this affect my credit score? Obviously a credit agency isn't going to understand that he and I have an agreement on the side for him to pay X portion and me to pay Y portion of the rent, so it will look like we are both at fault. Any idea?
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