Consequences for poor money

Repossession

Letter of Demand/Default

Notice

Social/Personal Issues

Unmanageable Debt

Harassment From Debt
Collectors

Foreclosure/Mortgagee

Sale

Bankruptcy

Inability to Get Credit

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Debt collectors can't harass, oppress, or abuse you or anyone else they contact. Some examples of harassment are: Repetitious phone calls that are intended to annoy, abuse, or harass you or any person answering the phone.

This is a letter or notice from the creditor (the person/company who says you owe money) which demands that you pay a set amount by a certain date or court proceedings will be started.

People who can not keep count of the people they need to pay back and not able to manage your dept which leaves you with unmanageable dept

Repossession is when a car or item that you own has not been paid for its insurance or other payments for the item and you can know longer own it unless payed off.

Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments

A personal problem is one involving the person, whereas a social problem is one involving society.

Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts.

This can be a problem because is can effect you if people keep calling you and needing the money when you cant give it because your stuck up with another debt.

Well if you have not paid for your possession of item it can get repossessed

They need to rebalance your loan so they can take things you own that have profit

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You have no money to pay back all your debt and it can become a big problem for the business because they are not getting there money

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