2007-02-16 19:15:22 · 7 answers · asked by rufus 1 1 in Business & Finance ➔ Personal Finance
Your life will be ruined!!!
2007-02-16 19:17:47 · answer #1 · answered by Anonymous · 0⤊ 1⤋
It will be very difficult for you to get cars, apartments, houses, credit cards, etc. etc. and if you do you'll probably have a very high interest rate. So if you're in debt and can't afford to pay your bills make sure you call those companies that you owe and arrange to make payments that you can afford most are willing to compromise because they want to get paid, whether it's sooner or later.
2007-02-17 03:19:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A bad credit rating basically will not allow you the ability to obtain a loan, mortgage, credit, etc....
2007-02-17 03:20:48 · answer #3 · answered by ksgirl 3 · 0⤊ 0⤋
you will have a harder time getting loans, getting financed and you will have higher apr's (annual percentage rates) on vehicles and such, the same happened to me after my divorce. The truck I bought had 15% apr (ouch!) but now that I've been on time with payments, not only with my truck but with everything, my credit score has risen dramatically, granted, I have been divorced for ten yrs. It will take time to improve your credit, just keep up on your bills.
2007-02-17 03:23:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You will pay higher interest rates on your loans and credit cards.
2007-02-21 00:03:48 · answer #5 · answered by annazzz1966 6 · 0⤊ 0⤋
it will be harder to get loans , but I have only used my credit score one time ,when I bought my house 17 years ago , it will be paid off in three years,no car payments...absolutely no credit cards ....you can live without credit as long as you do not live beyond your means , if I can do it anyone can ..
2007-02-17 03:32:07 · answer #6 · answered by Anonymous · 1⤊ 0⤋
u cant borrow from a group of banks.. u have to show more collatral or u may get summarily rejected..
2007-02-17 03:18:14 · answer #7 · answered by heartly r 2 · 0⤊ 0⤋