What Are the Consequences of Ignoring These Charges?
Ignoring penalties and interest can lead to severe consequences, including:
Legal Actions: Accumulated penalties can result in lawsuits or other legal actions. Credit Score Impact: Late payments and defaults can negatively affect a business's credit score, making it harder to secure future financing. Increased Financial Burden: Accrued interest and penalties can compound, leading to a significant financial burden that can drain resources.