Many people fail to realize that fines that are unrelated to loans or credit cards can have a negative impact on their credit scores. In fact, local governments are getting in on the game and, as such, your unpaid parking tickets, library fines, and other traffic penalties can have a damaging effect on your credit score – not to mention that you might be hit with late fees and other added charges as well.
Finally, don’t think you can just move away from the city or county and the debt will stay behind. In fact, before you move, contact your local library and municipality in order to make sure all of your fines and debts have been paid. These government agencies won’t take the time to hunt you down to pay your debts. Rather, they will simply hand your account over to a collections agency if they can’t find you. This, of course, will result in a huge smack down on your credit score.
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