These types of errors that can easily be prevented with a little analysis, limit our development, so think twice before falling into them, that impact your credit history. Here we report some of the negative effects of poor financial decision.
Requests for credit / loans denied
Having a bad credit score can become a trigger factor that acts as the barrier between your dreams and reality. By having negative marks on your record, grantors of credit or loan will be forced to think twice before issuing it.
That is, if such a slump that life brings you fall into the position of having to borrow, if you have a bad score you will see in a difficult situation, since it will be complicated to be accepted. It stressed that if the loan is your financial picture, and if it is tainted with negative points, negative image to be your credit issuers and financial institutions.
Security Deposits
Several services have crossed the line facilities to needs require a good credit score. It is electricity, pay television, among others. Service issuers verify the credit history of the individual who issued the request, and almost always merit a security deposit to ensure the respective payment for the use of the service.
On the other hand, if the individual has going for a good credit score, you can pay little or nothing as a security deposit of many of these services. A person with a negative score instead pay more. Bad credit means less money in your pocket.
High insurance
Depending on where you live and what your lifestyle, there are some payments that are very difficult to be dodged, such as health insurance and car insurance. As services require a security deposit. In the case of health insurance and vehicle, also look at the credit history of the individual to determine the amount of payments to be carried out each month. Undoubtedly a late payment or not will be reflected in the monthly payment.
Which is the reason?
Well, being a person with bad credit seen as a risk, insurance companies, whether sick or vehicle, which relate to an increased likelihood of making claims of financial. To cover the potential "risk" coverage policy it will be affected.
Persevering calls
One of the negative effects of having a bad credit or a debt that can affect your life, are persistent and annoying calls from collection agencies or representatives to claim the payments. On several occasions, the tenacity of this insistence reaches the point of trying to contact at inappropriate times and even the workplace.
Difficult to start your own business or purchase a vehicle
To make the dream of opening their own business reality, it takes more than a great idea and the desire to work hard: the capital. For many, this dream could get stuck in that: a dream, if the opportunity to acquire a loan to start is limited and subject to credit history.
Banks and financial institutions responsible for providing capital loans for small businesses work to investigate the financial profile of the person issuing the loan request in order to know the behavior the same as debtor occur.
In the case of buying a car, in the same way the financial profile is analyzed to examine the risk posed by the person as well as the monthly payment amount. A negative mark on the credit of an individual could not only cost him the denial of the loan, but if the interest is granted to pay will be stratospheric high.
Being financially responsible will make your life easier and your objectives to accomplish much more accessible.
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