How moving could hurt your credit score
All sorts of things can damage your credit score. It turns out moving is one of them.
Gerri Detweiler, director of Consumer Education at Credit.com, tells me this often happens when people close accounts - maybe their gas, electric or phone service - and have a final payment due, but the bill never makes it to them.
"It winds up in collection and the next thing they know, they're hearing from a collection company and it's on their credit report as a collection account, which is seriously negative," she explained.
Moving is always hectic; it's easy to lose or misplace important paperwork. That's why Detweiler recommends that you have a folder - it can be online - with a list of everything you need to cancel, when you did that, and a confirmation number or receipt.
As always, the best way to protect yourself is to get everything in writing. And don't forget to check those "closed" accounts after you get to your new location.
"Check the balance right when you move, one month after you move and then six months after you move, just to make sure there was nothing leftover," Detweiler said.
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