If you have medical bills, we encourage you to go make arrangements to pay on them or to pay them off completely. Not paying on them will hit your Credit Report and your Credit Score, and if you have more than one, it will hit your Credit harder than you realize.
If you have a charge off under your name, please remember that you still have to pay on it. Just because it is a charge off doesn’t mean that it releases you from obligations to pay. You signed a contract and not paying on the loan you signed for puts you in breach of that contract and certain legal actions can be taken which could also go against your credit.
If you have a car loan and then it gets repossessed, that hits you credit too. As said before, you signed a contract and by not paying is in breach of that contract so we have the right to repossess your vehicle. In addition, some places also cross collateralize so if you have a signature loan with the same place you have the auto loan and you not paying on the signature they can still come take that auto because it is in the contract that you signed.
If you have a loan and you forgot to pay on it for two months, those two late fees will also show up on your credit report. It will stay on your credit report for at least two years so please if you feel like you won’t be able to make you monthly payment call and we will try and work with you.