Missing minimum monthly credit card payments for 4-6 months may lead a creditor to "charge off" the debt as a loss, which negatively impacts the borrower's credit score.

Authors

• Person: Not available Organization: Federal Trade Commission
  How To Get Out of Debt | Consumer Advice

Sources

• How To Get Out of Debt | Consumer Advice consumer.ftc.gov Federal Trade Commission via serper

Referenced by nodes (1)

• credit score concept