Sentences with phrase «consequences on your credit score»

On top of everything we mentioned above, opening a new account can have consequences on your credit score.

They will be required to disclose how long the process may take, that creditors may proceed with further collection efforts, that interest and fees may continue to accrue on their credit accounts, and adverse consequences on their credit scores, if any.

However, both debt solutions will have various consequences on your credit score and future financial options.

Even if it is not, debt that is not handled appropriately can have dire consequences on a credit score, which can be incredibly difficult to repair.

Not exact matches

The biggest consequence of a short sale will be the negative impact on the seller's credit score.

But there are some unsavory consequences to late bill payments, especially if you do this habitually: your credit history and credit score can be adversely affected, which could lead to unfavorable interest rates and additional fees on loans you take out.

Instead, cosigning a loan can have serious consequences for your credit score, a factor that can have wide - reaching implications on your future purchases or financial needs, including home, automobile, and personal loans.

A long term consequence of default could be the drag factor it has on your credit score — making it difficult to get financing on loans, mortgages or credit card for years after the original default.

The only requirement is that you repay this debt on time to avoid the consequences of a low credit score.

Going into a new loan without being fully aware of what credit scores look like can have significant consequences on all of your future financials.

But your realtor probably can not offer you proper advice on your other debts, tax consequences, and credit score effects.

Consequences might include: (1) a constantly increasing debt burden (as interest accrues and due to high collection agency costs), (2) a decreasing credit score (making it difficult to borrow money in the future), and (3) default... which can lead to... (4) garnished wages (up to 15 % of disposable income), (5) withholding of your tax refunds... the list goes on and on.

You are responsible for all balances on the card, so the biggest risk is that the authorized user will run up big bills, with consequences for your bank account and, potentially, your credit score.

If one of you moves out and the other falls behind on the rent, this will have negative consequences for you and your credit score.

There can also be serious consequences from unpaid debts, whether it's harming your credit score or potentially leaving a cosigner on the hook.