There are so many out right lies when it comes to credit and credit reports, sometimes I wonder where these people get their information. You can’t fix, repair, change, or manipulate your credit scores or credit report over night. Life happens like medical expenses, loss of job, car accidents, busted pipes, broken ac, and the list goes on and on.
We live in a day when savings are lower than that of the 70’s. So we make tuff decisions what to pay and with no savings the credit cards and medical bills always seem to be the last thing we worry about. The next thing you know your 720 is a 550 and you don’t know what to do, so you do nothing. That is what most people do because they don’t understand how credit works. If you ever have a financial issue and you have to make tuff decisions here is a guideline to help, remember this is NOT a cure all. This is only to be followed if you had a financial crisis. Not paying bills on time always has an adverse effect on your credit and credit score.
1st thing always pay your mortgage/rent on time. They both will affect your credit adversely if you don’t.
2nd your car (can’t go to work with no car) and this means no income.
3rd household bills.
4th revolving credit like credit cards.
Remember you’re late with the creditor after the due date; however they don’t report you late with the credit bureaus till your 30 days past the due date. Now they always will charge you there late fees for going past the due date, so make sure if you’re late call and keep within the 30 day period. If your mortgage/rent is due on the 1st it is 30 days late on the 30th even if you have a grace period till the 5th the due date is the 1st and that is when the clock starts ticking. For more information on credit, credit scores, and credit guidelines go to
http://creditrepair21.blogspot.com/2008/11/5-factors-of-credit-scoring.html
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