There are a lot of erroneous information over Credit realted matter out there.
So the problem is how do is sift through the right informative material, that is the question.
Well we hope the following can add some clarity to many misconceptions over credit:
1. Payment of my debts will make my credit report Crystal clear instantly .
No not Exactly.They have to be in the timely matter agreed upon signing of Credit obligation.
A credit report is a history of your payments, not just a snapshot of where you are at the moment, says Maxine Sweet, vice president of public affairs for Experian, one of the three major credit reporting agencies.
As the author of the popular Web column “Ask Max,” she continuously reminds people that you can’t change the past. Credit counseling always destroys my credit score.
Attending a credit counselor’s debt management program is not considered negative in the scoring models.
However, if the credit counselor negotiates a lesser contractual obligation, the lender decides how it wants to report that.
So if your $500 monthly payment is refigured for $300, the creditor...
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