what consequences do borrowers face if they miss many payments? check all that apply\ndifficulty getting…

what consequences do borrowers face if they miss many payments? check all that apply\ndifficulty getting loans\ngarnished wages\nelimination of all credit\nlost collateral\ncompounded late fees

what consequences do borrowers face if they miss many payments? check all that apply\ndifficulty getting loans\ngarnished wages\nelimination of all credit\nlost collateral\ncompounded late fees

Answer

Brief Explanations:

Missing many payments can severely damage a borrower's credit - worthiness, leading to difficulty getting loans in the future. In some cases, if the loan is secured, the lender can take the collateral. Late fees may accumulate and compound. Wages can be garnished in certain situations. However, elimination of all credit is an extreme and inaccurate statement as some forms of credit may still be available in limited circumstances.

Answer:

A. difficulty getting loans B. garnished wages D. lost collateral F. compounded late fees