Overdue Library Books Can Hurt Your Credit Score!
by Tiffany Sanders

While not all municipalities use private collection firms, the trend is increasing across the country. As government collection activity rises, so does the number of consumers surprised to discover that they’re paying higher interest rates—or being turned down altogether—because the kids lost a library book or they neglected to renew Rover’s license.

If such charges are already appearing on your credit report, you may be able to negotiate their removal in exchange for payment. Getting items removed from your credit report can be a long and stressful process, though, and there’s no guarantee that you’ll be successful. The best defense is to be aware of the risks and make sure you pay those parking tickets on time, it could cause you to be regarded as a bad credit risk in the future.

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