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What are the Consequences of Late Credit Card Payments?

September 18, 2019

PHOENIX--(BUSINESS WIRE)--Sep 18, 2019--

Think a few late credit card payments aren’t a big deal? Think again. The repercussions can be widespread, negatively impacting your financial goals and preventing you from securing future credit or loans.

“It’s easy to get caught up in the hustle and bustle of life, or to become overwhelmed with the state of your finances. Whatever the reason, it’s important to understand the implications of missing payments,” said Michael Sullivan, a personal financial consultant with Take Charge America, a national nonprofit credit counseling and debt management agency. “Once you are aware of the consequences, you are more likely to stay organized, set up recurring reminders or enroll in auto-pay to prevent glitches and readjust priorities.”

Sullivan notes that late credit card payments can have both small and hefty consequences:

Overwhelmed with credit card debt? Take a free online debt review.

About Take Charge America, Inc.

Founded in 1987, Take Charge America, Inc. is a nonprofit agency offering financial education and counseling services including credit counseling, debt management, student loan counseling, housing counseling and bankruptcy counseling. It has helped nearly 2 million consumers nationwide manage their personal finances and debts. To learn more, visit www.takechargeamerica.org or call (888) 822-9193.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190918005047/en/

CONTACT: Taylor Holmes

Aker Ink

(602) 616-3781

taylor.holmes@akerink.com

KEYWORD: ARIZONA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FINANCE CONSULTING BANKING PROFESSIONAL SERVICES

SOURCE: Take Charge America

Copyright Business Wire 2019.

PUB: 09/18/2019 11:30 AM/DISC: 09/18/2019 11:30 AM

http://www.businesswire.com/news/home/20190918005047/en