QQuestionAccounting
QuestionAccounting
Not managing your debt wisely can result in:
A. An increase in your credit score
B. A decrease in your credit score
C. Inaccessible credit score
D. No change in your credit score
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Answer
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Step 1I'll solve this problem step by step:
Step 2: Understand the Question
The problem is asking about the potential consequences of not managing debt wisely on one's credit score.
Final Answer
A decrease in your credit score Explanation: Not managing debt wisely typically results in a lower credit score due to factors like missed payments, high credit utilization, and potential defaults, which are all viewed negatively by credit reporting agencies.
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