Restore Your Credit

If you have ever had some issues that have affected your credit score, I know you must want to know how to restore your credit. Different financial difficulties that can cause your score to drop would include :

• Loss of income (job loss, divorce, death)
• Emergency and/or unexpected expenses (medical expenses, etc.)
• Poor Money Management( overspending, compulsive buying, purchasing things you cant afford)
• Defective goods and services (car repair, house repair, etc..)
• Fraudulent use of your credit card ( identity theft)

Always remember the warning signs of credit issues:

• Inability to pay your bills on time
• Paying late fees
• Difficulty deciding which bills to pay each month
• Forced into using credit cards for routine purchases for which you would normally make with cash or checks
• Spending more than 20% of your monthly net income to pay back credit cards and other loans, not including mortgage
• Borrowing money to make payments on existing loan obligations
• Frequently at near or over your credit card limit
• Paying only minimum payment due on your credit cards bills
• Paying bills late or putting off necessary things, like visits to the doctor, because you don't have enough money

We found this information and thought we would share this with you. As always, we hope you find this information to be beneficial to you. If you want to know more about your credit, we cover credit information in our Home Buying Seminars, be sure to attend one. Look at the top right hand corner of this site for the next date, time, and location of our next New Home Buyer Seminar.

Thanks for reading our blog,


Contributions to this post was made by Freddie Mac & Fannie Mae - Credit Smart