Today we are going to talk about bad Credit scores. Credit score together with credit history which reflects how you handle your debt, how you are paying your credit cards and other is crucial when thinking about purchasing real estate, because just of this you might not be able to get a loan and as a result you might not be able to buy a house. There are times when we go through financial hardship in life which can end up in unpaid debt, foreclosure or bankruptcy. All of this dramatically affects your credit score and shows almost instantly on your report. The good news are if you have a small dent in your credit history as well as a big one such as a bankruptcy, you can always bounce back to the point when your credit history was in good standing. Yes, it will take time, sometimes it can take up to seven to ten years to rebuilt your credit history. You should keep your credit card balances low, apply sparingly for new credit cards and try to pay off your debt as much as you can. Little by little you will finally bounce back. The interesting thing is the better your credit score was the longer it will take to bounce back to that good credit score.
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