I received a call from a collections agency a couple of days ago about an unsettled bill of $200.
Turns out that during my grad school days (over 7 years ago), we used a water delivery service and I was the one who set it up. Once I graduated, the other guys in the house I lived in took it over. I knew the guys pretty well and so (very stupidly) didn't even think about closing/transferring the account.
Now all of them left that apartment a year ago and the new tenants did not pay for the service so it ultimately reached a collections agency.
I asked the gentleman who called me if this would come on my credit report and he said it would not if it were to be paid in full, so I gave my credit card number and charged the whole amount to it. He said he would send me the receipt to my new address.
Now my question is, is what he said about reporting to the credit bureaus true? I checked my credit report and there are no mentions of the late payment or collections (yet). I'm very worried! The wife and I are looking at buying a house in the next few months and the last thing we need is a derogatory mark like this!