Rebuilding Your Credit Score [Video]

Welcome to today’s home update.

Do you have poor or little credit? According to the FDIC, consider consulting with a reputable credit counseling service to help develop a customized plan, which may help you decide how to prioritize your spending choices.

Counseling services are available to help consumers budget money, pay bills and develop a plan on how to improve credit history. However, be cautious of credit services that advise you to stop making payments to creditors or make your payments to the counselors instead. These programs can be costly and could result in your credit score becoming even worse and they could be scams.

Understand what information is most likely to influence your credit score. In general, the most significant factor in influencing your score is whether you repay your debts on time, and how much you owe in each account compared to its original loan amount. Factors include how long you’ve had your current loans and credit cards, and types of credit accounts you have.

Building your credit score may take time, but it is possible and worth it in the long run.

Do you have questions about your credit score? Contact us today at www.c21affiliated.com/contact_us

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