{"id":113,"date":"2018-01-06T22:35:36","date_gmt":"2018-01-06T22:35:36","guid":{"rendered":"http:\/\/gecommercialfinance.com.test\/?p=113"},"modified":"2020-11-29T04:57:41","modified_gmt":"2020-11-29T04:57:41","slug":"how-to-improve-a-bad-credit-score","status":"publish","type":"post","link":"http:\/\/gecommercialfinance.com.test\/how-to-improve-a-bad-credit-score\/","title":{"rendered":"How To Improve A Bad Credit Score"},"content":{"rendered":"
The benefits of a great credit score are huge, and a perfect credit score can be the key to your financial dreams! However, a bad credit score can happen, and with this article, I want to show you how you can fix the bad credit score that keeps you from getting money to a perfect credit score that makes financial institutions like banks beg for you to take their money.<\/p>\n
Before we take a look at how we can fix a bad credit score<\/a>, let's first figure out how a bad credit score can be triggered so that you can avoid mistakes that can kill your credit score and how you can fix each one of them asap.<\/p>\n It\u2019s no secret that by not paying your bills, you risk a bad credit score - according to Credit Optimal<\/a> expert, Robert Ferry. But sometimes payments you didn\u2019t know about can kill your score, too. For example, if you moved to another city and didn\u2019t inform an institution that is sending invoices all day to your old address that you moved, it can happen very easily to hurt their policies fast and makes them take the next step that can get your scoring in trouble. So rule number one to improve your credit score is to always keep up with your payments and to not be late (even unintended). You can ask Robert more questions regarding fixing credit score at Credit Optimal's official Facebook<\/a>.<\/p>\n Whenever a creditor is unable to secure payments from the borrower, they will use third-parties to enforce the collection process. Often the creditors sell the delinquent debt to debt collection agencies after or before charging off their account.<\/p>\n And by sending delinquent accounts to collections, this credential information will be captured by the credit report. Unless you repair such information, you will have a tough time getting any other borrowers to lend you money. And that is for a good reason if you were a borrower with a history of poor collection.<\/p>\n Keep in mind to never let this case happen and always communicate with your creditors. That's the only way you can stop them from selling your debt and with that burning a big hole into your credit score.<\/p>\n Whenever a private person (individual) or a company is unable to pay debts, they might be forced to file for bankruptcy in order to receive legal protection. It is probably the most extreme event you can financially experience, and it's definitely the most damaging event to an entity's credit score.<\/p>\n1. You are late with your payments.<\/h3>\n
2. Your debt was sold for bad reasons.<\/h3>\n
3. You filed for bankruptcy.<\/h3>\n