These are the 7 worst things for your score
Late payments. It may not seem like a big deal when you miss a 15 Dollar payment. But it can be a big hit to your score and it will be there for 7 years.
Collections. This is when the credit gets tired of calling you and he turns it over to the collection agency It is 7 years bad luck again.
Charge offs. This is when the creditor gives up. It is there for seven years once again.
Public Records. Bankruptcy, tax liens, judgments and etc. The chapter 7 BK is there for 10 years and the tax liens never go away.
Settlements. This gets mention in the collection area once again seven years
Foreclosures A deed in lieu works the same. They are on the report for seven years again and are a big problem for us mortgage lenders.
Repossessions. The repo man is going to drag your car away with your score following closely.
If you need some advice, you can reach me at 615-777-4663 or via email at George.Margrave@migonline.com
No comments:
Post a Comment