Depending on the recommendation of a third-party vendor- Online Utility Exchange or your payment history with Boone Power, your membership may require you to pay a deposit.
When a third-party vendor is consulted, the vendor will make a decision based on a credit score. Scores are calculated using many different pieces of credit data in your credit report. This data is grouped into five categories: payment history, amounts owed, length of credit history, new credit and credit mix. Scoring models may be based on more than the information in just your credit report. For example, weighted consideration may be given to those with outstanding amounts owed to utilities.
In addition to the recommendation of the third-party vendor, a current or past member may be required to make a deposit if any of the following conditions are met:
- The member has been mailed disconnect notices for two consecutive months;
- The member has been mailed disconnect notices for any three months within the preceding twelve-month period; or
- The service has been disconnected for non-payment within the past four years.
The deposit will be determined to be a two-month total based on an average bill for that location. If there is no service history at the location, a deposit of $500 is required.