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.
Essentially, to default on loan means that a payment was missed. How quickly an account is considered in default depends on the type of loan. With a federal student loan, your account may not be considered in default until you have missed nine months of payments. Private student loans may consider you to be in default as soon as the first payment is missed.