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CREDIT SCORING BLUNDERS
regrettably, some financial mistakes do more than
ding your credit. Some can damage it for a long period
of time. Below are some of the more common blatant
credit mistakes people make and advice for paving the
road back to positive credit.
Late Payments - Your history of making timely
payments is one of the most impacting factors in regards
to credit scores and as a deciding factor for lenders
and anyone else that pulls your credit.
Account in Collections - When you neglect to pay
your bills, your accounts will be sent to a collection
agency.
Court Judgments - One of the most negatively
impacting effects on your credit report, staying listed
for seven years.
Foreclosure - When you can not pay your mortgage,
the lender will eventually foreclose on your home.
Meaning, they take possession of the property.
Bankruptcy - Filing bankruptcy should be a last
resort for those looking to clear up their debt
problems.
Too Much Debt - Using too much of your available
credit card limits will result in a negative impact on
your credit score.
Late Payments - Paying your bills timely is one of
the simplest methods for keeping your credit in good
standing.
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