If you accept a loan or credit card offer of zero interest for “x” number of months, make sure you pay the balance in full by the end of the “zero interest” period or you will be charged prorated interest. Remember to read the small print and understand the terms and conditions that come with the “sweet” deal before you sign-up for it.
If you need help with repairing your credit score, we are here to help. We have the experience and tools for success. Call us.
Doctors and medical offices don’t report your unpaid bills to the credit reporting agencies. They send them to bill collection agencies and they report your debt. Once reported, the unpaid medical debt may negatively impact your credit score making it drop 50 to 100 points. Whether paid or not, the medical debt reported will stay on your credit report for up to 7 years.
The credit reporting agencies tell us that your Chapter 7 bankruptcy will stay on your credit report for up to 10 years. However, what many people don’t know is that approximately 2 years after filing for chapter 7 bankruptcy, your credit score will improve if you maintain a good bill payment record. Additionally, you may be able to acquire new credit cards after the 2 year period.
Your bad credit isn’t just a nuisance; it will impact every area of your life. When you finally decide to take matters into your own hands and fix your credit problems, many areas of your life will improve.
Luckily, these days there are a lot of options for proactive and hands-on folks who want to take back control of their financial lives. While there are many DIY credit repair options out there, getting professional help can walk you through the sheer volume of necessary procedures which can be overwhelming — not to mention being sure you’re getting the right information.
That’s why we’ve put together a simple plan to get you back on the right financial track. Call or email us for a quick chat to see if we can put a plan in place to reduce your stress and get your credit score higher than ever.