Save. The TracFone is a prepaid phone that allows users to decide what kind of plan they want. Those who use TracFones can buy phone cards and add minutes for calls based on their needs. If you receive an SMS on your TracFone and want to reread it, you can retrieve it by just clicking a couple of times on your phone.
How a default affects your credit score. Once a late payment goes past 120 days it is considered to be in default. A default not only causes a further drop in your credit score, but it also signals the creditor that itâs time to send your account to a collections agency.
When you default on your home loan, the result may eventually lead to a foreclosure and subsequent loss of your home. The sting of default, just from the hit it deals to a credit score, may also be significant. In fact, scores have been known to drop as much as 250 points when foreclosures are involved.