All of our consumer accounts are reported to all three major credit bureaus. (Equifax, Experian, and Transunion).

The simple act of reporting a delinquent account has a major effect on the debtor's credit score- making it difficult for the debtor to obtain credit or a loan from someone else.

In addition, many credit card companies continually monitor their account holder's credit for negative entries. As a result, they may lower the debtor's credit limit, increase interest rates, or cancel their account completely.

A deliquent account can stay on a consumer's credit report for seven years. Sometimes, this can be extended.

Our commercial accounts are reported to the two major commercial credit reporting bureaus. (Experian Commercial and Dun & Bradstreet).  Just like with consumer reports, this will have a negative impact on a business's credit score.  As a result, businesses will find it harder to obtain credit and they may have to pay in advance for goods and services.

Some of consequences of bad credit include:

• Decrease the likelihood others will extend credit to them
• Increase the interest rate lenders will charge them
• Increase insurance premiums (such as workers’ compensation)
• Make them unable to obtain new business
• Creditors may put them on a COD basis
• Credit lines can be reduced or cancelled