ShintoBlessing
Sun Sep 15 2024
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0 answers
0
Does a dishonoured payment affect credit score?
Could you please clarify for me how a dishonoured payment could potentially impact an individual's credit score? I understand that a dishonoured payment means that the funds were not available to cover the transaction, but I'm unsure of the exact consequences it may have on creditworthiness. Would this type of payment issue be reported to credit bureaus, and if so, how would it affect credit scores and potential future lending opportunities? I'm looking for a concise explanation of the potential implications.
Paolo
Fri Sep 06 2024
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5 answers
1304
What is a dishonoured payment fee?
Could you please clarify what exactly a dishonoured payment fee entails? Is it a penalty imposed when a payment, such as a cheque or a digital transfer, fails to clear due to insufficient funds or some other reason? What are the typical scenarios where such a fee might be incurred, and how much can one expect to pay? Is there a way to avoid incurring these fees in the future?
