How Many Points Will You Lose On Your Credit Score....

When your library finds out that you have not returned their books or resources...

According to Evan Hendricks, author of Credit Scores & Credit Reports, you may lose upto a 90 points. That to me is a lot to lose.

"Unpaid fines reported by a debt collector, though, will knock points off a credit score.
'From a credit score point of view, it doesn't matter so much the size of the debt, but that it's recent and happened in the last 11 months,' said Evan Hendricks, author of Credit Scores & Credit Reports. A library fine recently posted on a report could trim 30 to 90 points off a credit score, he said."

Again the saving grace is not all the credit bureaus think that it is serious crime to be in that list.

"Among major credit bureaus, Experian and TransUnion will post information from collection agencies on reports. Equifax tries to weed out library fines and parking tickets because they are inconsistently reported across the country, spokesman David Rubinger said. Also, lenders don't believe they indicate a consumer's creditworthiness"

Cheers,
Johncy Edward
How Many Points Will You Lose On Your Credit Score....:

PS: I think I have more to blog today and in the coming days I believe, which is good for you :D