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Wednesday, August 4th
From that first bank account to the latest credit card, an individual's credit history is the complete synopsis of how that consumer has managed their finances over their lifetime. For better or worse, it's all included in one handy document, which can be accessed by financial brokers, credit card companies and even potential employers.
A credit score - a three-digit number that is assigned through a mathematical algorithm which pulls data from a person's credit report - is partially determined by a consumer's credit history. A credit score, in conjunction with a person's credit report, is used to determine credit worthiness. It consists of 15 percent of a consumer's credit score.
Knowing how a credit history can affect everyday living is the best tool a consumer can possess. Landlords, insurance providers and even cell phone companies use a person's credit history to determine if they want to risk doing business with that person. Having a bad credit report - which is the result of not paying bills on time or forfeiting loans and other debt - will have lifelong repercussions for the potential borrower.
It's best to build a solid credit report from day one. The ways to create a positive report include:
If you're among the estimated 220 million Americans who have bad credit, all is not lost. There are steps to take to help repair credit damage and improve your credit rating. The best way to repair poor credit is to consult with a consumer credit consolidation service, which can help consumers consolidate monthly loans and other debt into more reasonable payments.
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The Importance of Credit Repair and Restoration Instead Of Bankruptcy ...
ROSEVILLE, CA / ACCESSWIRE / July 22, 2021 / Credit is a necessary part of life, and having a lot of debt, or bad credit can greatly impair what people are able to do in their life. This financial ...
Thu, 22 Jul 2021
The Jamaica Observer
'Don't delay' OSI urges consumers in debt to begin credit repair
Deputy supervisor of insolvency in the Office of the Supervisor of Insolvency (OSI) Fayola Evans-Roberts is urging people who are unable to meet debt obligations to begin credit restoration. She said ...
Sat, 31 Jul 2021