Which statement describes a risk of taking on debt?

A. It allows you to buy things now and pay later.
B. It does not affect your credit score if you pay it off in a timely manner.
C. It could affect your ability to take out other loans.
D. It might result in the interest rates on other loans to increase.

Question

13-05-2022
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Which statement describes a risk of taking on debt?

A. It allows you to buy things now and pay later.
B. It does not affect your credit score if you pay it off in a timely manner.
C. It could affect your ability to take out other loans.
D. It might result in the interest rates on other loans to increase.

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abigailalbarran0408 abigailalbarran0408 · Answer 1 · 2022-05-13T03:41:05+02:00

abigailalbarran0408 abigailalbarran0408

13-05-2022

The answer is c. It could affect your ability to take out other loans

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abiolataiwo2015 abiolataiwo2015 · Answer 2 · 2022-05-17T11:45:49+02:00

The statement that describes a risk of taking on debt is: C. It could affect your ability to take out other loans.

What is Debt?

Debt can be defined as the money a borrower borrowed which he or she is yet to pay back.

When a person take debt, the person may not be able to take or collect another loan based on the fact that the person is yet to pay the debt he owed.

Therefore the statement that describes a risk of taking on debt is: C. It could affect your ability to take out other loans.

Learn more about debt here:https://brainly.com/question/26258146

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