The millions of Americans who saw their credit damaged during the financial crisis in 2008, however, might find Mr. Burman's rationale unfair.
Credit is impacted, but for a borrower who is already behind on payments, the credit damage may not be any worse then where they are.
Of course for many people who lost homes to foreclosure, there were other circumstances that could have led to additional credit damage.
It's important to note that a payment default, regardless of who was responsible, could lead to long-lasting credit damage for each of you.
"Defaulting on any student loan can have very serious - and very guaranteed - negative consequences, including late fees, collections costs, credit damage, and collections efforts". Private lenders will often sue their borrowers who default on their student loans.
Recognizing the potential credit damage posed by closing his card account, Charlie preferred not take that route and continue to hold onto the account, but he also didn't want to pay an annual fee.
The squadron was also credited with damaging a Mitsubishi G4M "Betty" bomber and claimed another three Zeros as "probables".
On 27 October, Flying Officer Les Reading was credited with damaging another MiG; it was subsequently confirmed as having been destroyed, making it the squadron's first MiG "kill".
During this time, Scherf took part in several night operations and was credited with damaging a variety of targets as well as shooting down four German aircraft at night.
