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If you don't make your payments on time, you can damage your ________
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Debt
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Credit rating
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Mortgage
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Appraisal
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If you don't make your payments on time, it can negatively impact your credit rating. A credit rating is a measure of your creditworthiness and is used by lenders to determine your ability to repay debts. Late or missed payments can be reported to credit bureaus, resulting in a lower credit score. This can make it more difficult for you to obtain credit in the future, such as loans or credit cards, and may also lead to higher interest rates.
