Making payments on time is one of the best ways to keep or improve good credit. Late payments will stay on your credit history for up to two years, but like all negative information, it will affect your score less as time marches on. Learn more here about late payments mean to your finances.
Late credit card statements can change your credit score, and not for the better. There are many online resources to help shop for a lower interest rate, help you budget, and help make payments on time.
Old bills, no matter how small, can ruin your credit if they're reported to a collection agency. If it's an error, you can try fighting the charges to correct your credit history. If fighting a bill doesn't work, then negotiate a payoff in which you pay the bill in full but they agree (in writing) to simply report the sum is "paid in full" on your credit history.
When you get behind in your mortgage payments it can affect your credit score. When you later make the missing or late payments on your mortgage loan, your mortgage lender or bank should give you credit for having made them. If you try to make good on a late mortgage debt and your lender doesn't recognize your payments you may want to consult your state attorney general.
Does your mortgage or mortgage payments show up on your credit report? A history of on-time payments could help improve your score, but sub-prime lenders may not be reporting your score.
What can you find in your credit report? A credit report lists both good and bad credit items such as credit cards, liens and bankruptcies. Learn what bad credit items are and how to fix them on your credit report. If you don't understand something on your credit report an accountant may be able to help you.
Have a good credit score and history is critical to buying a home. What can you do if you're trying to improve your credit history to buy a home? Use credit cards wisely. Debit cards do not count toward building a credit history and score. If you can't qualify to get a credit card, you should set up a secured credit card with your bank.
Some home owners had trouble making mortgage payments after 9-11. Experts from the Mortgage Bankers Association put their delinquency rates into perspective. Learn also how mortgage lenders and secondary market players such as Freddie Mac work to combat mortgage fraud.
A rental property owner has trouble finding good tenants and getting rent payments on time. He wonders if Section 8 might be the answer to finding good tenants for his rental property. The landlord might want to better screen his tenants, along with a few other strategies.
If you've got bad credit or are struggling to pay your bills, get credit counseling, get help paying off your debt to improve your credit score. Your credit score is your key to qualifying to buy a home, so you have to get rid of bad credit by paying off your debt to improve your credit score. If you can't seem to get a handle on your bills, working with a credit counselor can help you pay off your debt, improve your credit score and turn your bad credit into good.