All of these things not only will it avoid further accumulation of debts but put also a great impact on the interest rates and the types of loans that you can pursue. (debtfirms.com)
You also open yourself up to new accumulation of debt, which isn't good, and you bring your average account history down as well. (inc.com)
The payment made for the new purchases will be utilized to cover the old balance, which leads to further accumulation of debt. (credit-land.com)