The only requirement is that you repay this debt on time to avoid
the consequences of a low credit score.
Not exact matches
(See «The real cost
of a
lower credit score,» p. 53, to learn what the
consequences might be over the course
of a five - year mortgage.)
There is no longer a reason for you to suffer the
consequences of having a bad
credit report or
low credit score.
The negative
consequences of bankruptcy are many, including significantly
lowering your
credit score.
Almost all private student loans require a co-signer, and increasingly, the parents and grandparents tied to these debts are running into trouble —
lower credit scores, higher borrowing costs, and threatened retirement are just a few
of the
consequences.
Another
consequence of having large amounts
of unpaid debt is that your
credit score is likely much
lower than you would like.
This is a way
of protecting themselves from the
consequences of bad
credit habits often exhibited by clients whose
score are
low.