What consequences do borrowers face if they miss many payments? Check all that apply.

difficulty getting loans

garnished wages

elimination of all credit

lost collateral

compounded late fees

Question

Social Studies

Griffin Barrera

9 July, 22:44

What consequences do borrowers face if they miss many payments? Check all that apply.

difficulty getting loans

garnished wages

elimination of all credit

lost collateral

compounded late fees

+5

Answers (2)

Know the Answer?

Grant Maddox · Answer 1

Correct answer choices are:

Difficulty getting loans

Garnished wages

C ompounded late fees.

Your investor begins the proceedings method. Some lenders begin the method once one uncomprehensible payment whereas others can provide you with three months. In either case, the late payment is enclosed in your credit report and can have an effect on your credit score. Next month, you'll need to pay 2 mortgage payments and the late fee.

Larry Medina · Answer 2

All of them because they can't give what they took from money back so how the borrower will trust them to give them more money or time

What consequences do borrowers face if they miss many payments? Check all that apply.difficulty getting loansgarnished wageselimination of all creditlost collateralcompounded late fees

What consequences do borrowers face if they miss many payments? Check all that apply.

difficulty getting loans

garnished wages

elimination of all credit

lost collateral

compounded late fees