Late payments, unpaid bills, fees and missed deadlines — what actually happens to your money and your credit, and how to limit the damage.
Skipping your tax return is far more expensive than filing and not paying. In the US, the failure-to-file penalty is ten times larger per month than the late-payment penalty — and if you're owed a refund, you could lose it entirely. Here's the timeline.
A missed credit card payment costs you a late fee almost immediately, but your credit score is usually safe until the payment is 30 days late. Here is the day-by-day timeline and how to undo most of it.
Overdraw your checking account and your bank will either decline the payment or cover it and charge you a fee — sometimes several in one day. Here's how overdrafts work now, what they cost and how to get a fee refunded.
