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It's tempting, isn't it? When you fall behind on your storage unit payments, the idea of just walking away might seem like the easiest option. You figure you’ll just lose the items and that's the end of it.
But the truth is, abandoning a storage unit can set off a chain reaction of hidden costs that are far more expensive and stressful than taking care of the problem.
Let's break down why "cutting your losses" is a bad financial move and how hiring HAUL PROS is the smarter, cheaper solution.
The Financial Fallout You Don't See on TV
Reality TV shows make storage auctions look exciting, but they leave out the most painful part: what happens to the person who lost the unit. When you abandon a unit, you don't just lose your stuff; you create a mountain of debt.
- Late Fees and Administrative Costs: The moment your payment is late, the clock starts ticking. Late fees and other administrative costs quickly pile up, sometimes exceeding 20% of your monthly rent. The longer you wait, the more you owe, making it almost impossible to catch up.
- Lien and Auction Fees: Once the facility begins the legal process to auction your unit, they can charge you for it. These lien fees cover the cost of everything from legal notices to advertising the auction. These are unpredictable and can add hundreds of dollars to your balance.
- The Unpaid Balance: In most cases, the auction doesn't even cover what you owe. The items in your unit are often sold for a fraction of their value—and if the sale doesn't cover your accumulated debt, the remaining balance is still your responsibility. This is where things get really bad.
The Long-Term Damage: Your Credit Score
This is the biggest hidden cost. Storage companies don't typically report your monthly payments to credit bureaus. However, if your account goes unpaid and the facility sends your remaining balance to a collections agency, that debt will appear on your credit report.
A collections account can cause your credit score to drop significantly, sometimes by over 100 points. This negative mark can stay on your report for up to seven years, making it harder and more expensive to:
- Get approved for a credit card, car loan, or mortgage.
- Rent a new apartment.
- Get lower interest rates, costing you thousands of dollars in the long run.
The Cost-Effective Choice: Hiring HAUL PROS
Compare all of those unpredictable, long-term costs to the single, manageable fee of hiring a professional hauling service.
A one-time fee to haul away your unwanted items is significantly cheaper than:
- Accumulating months of late fees.
- Paying unpredictable lien and auction fees.
- Facing a collections account that damages your financial future for a decade.
By hiring HAUL PROS, you're not just getting rid of stuff; you’re taking a proactive step that saves you money, time, and stress. We offer a fast, reliable, and single-cost solution that prevents a small financial problem from becoming a long-term disaster.
Don’t Let a Simple Problem Become a Lifetime of Debt
Before you walk away from your storage unit, think about the real cost. A simple phone call to HAUL PROS can save you from a pile of debt and years of financial headaches. Let us help you clear your unit today so you can protect your credit and get back on your feet.