Money & Credit Management
In order to reestablish your credit you need to build a good credit report. This means you must take a close look at how you manage your money. Take time to write a spending plan for yourself. Compare your income with your expenses. Make sure that you pay your bills by the due dates. Talk to current lenders about working out a plan that will make it easier to pay your debts. The National Foundation for Credit Counseling (800-388-2227) or Myvesta.org (1-800-698-3782) can help with these tasks.
To build a good credit report, lenders must report good information about your use of credit to the 3 credit bureaus. Make sure that payments you’re making on time (such as rent, loan, or utility payments) are reported to credit bureaus.
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One Comment on Money & Credit Management
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fix your credit on
Mon, 14th Sep 2009 12:00 am
Often, we think of improving our scores for a better mortgage interest rate. But improving your credit score can greatly impact your car insurance and home insurance rates. Nearly every insurance company runs insurance scores to determine which tier to place you into. Another suggestion is to pay down balances on credit cards where you have the balance at or near the available limit.
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