• Ready to Avoid Bad Credit Scores?

    Personal bankruptcy filings have been continuously increasing in America since 2009. According to The National Bankruptcy Research Center, the number had reached 1,407,788 which is about 32% increase more than 2008. It cannot be denied that many people are struggling with their financial stability nowadays. That is why, many financial firms have gone to business that offers services to aid you with your unique financial situations. Financial firms like lending investors and even banks can lend you money with low interest rates.

    Whether you are dreaming to purchase a new car, having your home renovated or simply wanted to spend a vacation with your loved ones, these financial firms can provide you with the money you need through personal loan.

    This may sound good to you, but don’t just immediately jump out from your seat and apply for a personal loan right away. There are few things you need to consider before you jump right in. First, take some time to know and understand the difference between secured, unsecured, variable and fixed loans and decide what type of loan you want to apply to. Second, calculate on how much you can afford to make in repayments, you don’t want to end up with bad credit scores, right? And lastly, think of the terms on how long it will take you to pay it off, do want to pay it on a weekly or monthly basis?

    Once you got approved, always note your due date and pay your bills on time. If you are using a credit card, don’t let your purchases get too close to your credit limits and pay your bills in full. Paying just the minimum required payment can trap you into an increasing debt and this can lead to bad credit. Let’s not take “discrepancies” for granted as this can happen to anyone, so it is best advised to check your credit score at least once a year to immediately address erroneous charges if there might be any.

    Your credit score depends on you. As long as you are cautious and careful with all your purchases and repayments, bad credit scores can always be avoided.

    Need help in understanding your scores and how they can work for and against you? Call My Financial Corner and we can help!

    2 Comments

    • 1. Nov 22 2011 6:35PM by Jack Michel

      aahh..!!! its good ideato check the type of loan that you are going to obtain from any financial institution.... i will keep in mind the information you provided.

      thanks

    • 2. Nov 22 2011 8:04PM by jackmichel

      Overall, it is vital for my financial well-being to keep my credit score clean. Bad credit can affect every aspect of my life.

It's your right to have accurate information on your credit report!

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