Answer:
Having a low credit score will definitely make a person less elegible for different lines of credit, which means that this person will most probably will not have access to further loans, or if they do, it will be at really high interest rates, as the person will be classified as high-risk. The only possible loans a person with a low credit score could be elegible for would be consolidation loans, to help pay off the amounts owed, but the problem, as mentioned before, is that the person will have to face high interest rates, and other financial consequences. Another issue will be the difficulty for these people to rent apartments, as part of the information required by landlords is the credit score. There can also be issues with getting jobs because of the issue of security clearance. There will also be difficulties getting cellphone contracts and there will be higher premiums for insurance costs.