Answer:
It will lower your credit score.
Step-by-step explanation:
Credit companies created a credit score based on your financial history. Every time you missed a payment, it will lower your credit score and affect your ability to obtain loan in the future.
People who has high credit score tend to have easier time in obtaining loan with low interest rates. People with low credit score on the other hand are seen as 'risky' transactions by the credit companies. This will make it hard for them to obtain loan with low interest rates