"Don"t let bad credit haunt you"
"Don't let bad Credit haunt you"
Many employers, do a credit check in completion of the hiring process. This method gives employers an idea of how responsible you are. You are judged on your credit score and a decision is formed. You will quickly eliminate yourself from the new age working class. Think about it in comparison to a report card in school. Many times your report card does not accurately reflect your efforts, this is also true for your credit reports. You may have encountered one of the natural downfalls that life has brought upon us all at one time or another. You may have gone through a divorce, you or your spouse may have lost your job, or maybe an unexpected mishap may have occurred resulting in mountains of unwanted medical bills. Unfortunately, these things will be used to formulate judgment on you. Therefore, acceptable credit can even be imperative to your career's success.
The key is not to let situations like this surprise you. Never wait until the last minute, because unless you have an inside tip on destiny, you never know when opportunity will present itself. Taking preventative measures is the only way to get a running start at these road blocks. Waiting until the last minute is very distracting, pressure starts to build which breeds irrational decisions; Your not allowed to think clearly because nervousness and anxiety have taken over.
The first step of initiative that you should take would be to get a copy of your credit reports, make sure that you get what's called a tri-merge. This means that the details of all three major credit bureaus (Equifax, Experian, Transunion) will be included. Next, identify the problems, which could be several different reasons; It may be your credit card balances, it may be the number of open or closed account that you have, or it may be your negative accounts (collections, charge-off's..etc). The formula that goes into calculating a credit score has several variants. Timely payments of loans accounts for 35%, the amount and type of outstanding debt accounts for 30%(negative trade lines),the length of your credit history for 15%,, the mix of various accounts, 10% of your score; and finally the types of accounts that you have recently opened makes up the remaining 10% of your score. Now that you have identified the problem, you can seek out the most conducive solution to your situation.
These preventative measure will keep you one step ahead. Working on your credit is always to your benefit. The myth that bad credit simply goes away in time, is just that, "A MYTH", it is up to you to take control of your future.
Many employers, do a credit check in completion of the hiring process. This method gives employers an idea of how responsible you are. You are judged on your credit score and a decision is formed. You will quickly eliminate yourself from the new age working class. Think about it in comparison to a report card in school. Many times your report card does not accurately reflect your efforts, this is also true for your credit reports. You may have encountered one of the natural downfalls that life has brought upon us all at one time or another. You may have gone through a divorce, you or your spouse may have lost your job, or maybe an unexpected mishap may have occurred resulting in mountains of unwanted medical bills. Unfortunately, these things will be used to formulate judgment on you. Therefore, acceptable credit can even be imperative to your career's success.
The key is not to let situations like this surprise you. Never wait until the last minute, because unless you have an inside tip on destiny, you never know when opportunity will present itself. Taking preventative measures is the only way to get a running start at these road blocks. Waiting until the last minute is very distracting, pressure starts to build which breeds irrational decisions; Your not allowed to think clearly because nervousness and anxiety have taken over.
The first step of initiative that you should take would be to get a copy of your credit reports, make sure that you get what's called a tri-merge. This means that the details of all three major credit bureaus (Equifax, Experian, Transunion) will be included. Next, identify the problems, which could be several different reasons; It may be your credit card balances, it may be the number of open or closed account that you have, or it may be your negative accounts (collections, charge-off's..etc). The formula that goes into calculating a credit score has several variants. Timely payments of loans accounts for 35%, the amount and type of outstanding debt accounts for 30%(negative trade lines),the length of your credit history for 15%,, the mix of various accounts, 10% of your score; and finally the types of accounts that you have recently opened makes up the remaining 10% of your score. Now that you have identified the problem, you can seek out the most conducive solution to your situation.
These preventative measure will keep you one step ahead. Working on your credit is always to your benefit. The myth that bad credit simply goes away in time, is just that, "A MYTH", it is up to you to take control of your future.