Do parking tickets affect my credit score?

Parking tickets can negatively affect your credit score if left unmanaged. Making payments on time is a sure way to improve your credit score while keeping fees relatively easy to pay off.

Parking tickets are a common annoyance among Canadian drivers. They are issued based on the severity of the offences, and can charge from a minimal of $20 up to thousands of dollars. Governments and private companies are making effort to make it easier for drivers to pay parking tickets through simple instructions and various methods of payment such as online, mail, telephone or in-person. Some drivers do not see immediate consequences with late payments, and they are prone to accumulate more costs through late fees and additional tickets.  Parking tickets will eventually affect your credit score and can possibly affect your insurance rates if left unpaid for a long period of time. It is a priority that parking tickets should be paid ASAP while the fees are easier to manage and credit score is still in good condition.

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