What is one way that paying more than the minimum payment on a debt could end up being a bad thing?(1 point)
Responses
It could reduce the balance more than the minimum amount.
It could reduce the balance more than the minimum amount.
It could hurt the debtor’s credit score.
It could hurt the debtor’s credit score.
It could decrease the debt below the minimum threshold and possibly increase the interest rate on the remaining debt.
It could decrease the debt below the minimum threshold and possibly increase the interest rate on the remaining debt.
If income and expenses were not properly budgeted, the payment could be too high and cause other payments to be missed.