Unpaid Parking Tickets & Loans
Did you know that a small event like not returning a book to a public library could affect your credit score? Of late records of outstanding money for small things like parking tickets and fines, are finding their way to individuals’ credit records. Authorities do not have much choice in this matter. They are faced with the tough choice of either trying to clear past-due accounts or raise taxes and cut spending. Since the second alternative is not very popular, the government is left with no alternative whatsoever.
However, the only problem with such an approach is that it can taint a person’s credit record credit record to such a point that s/he finds it difficult to make big purchases like a house or a car. So while this may be a legitimate way to get back money that is rightfully owed to it, is the state doing more harm than good in the long run?
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