Getting a Good Credit Standing
As we help people looking to buy or sell Phoenix real estate it cannot be denied that with the current economic status, people are striving hard to stretch whatever dollar they have. The endless cycle of lending money to make ends meet; paying for the loan with your salary or from another loan and lending again might cause damage to your good credit standing. Likewise, this situation can be very stressful and results in to many sleepless nights. The mere fact of budgeting and allocating your finances to cover all the necessary household needs along with mortgage and car loans payments can sometimes be burdensome. Getting a good credit standing takes time yet is easily harmed by one wrong move.
The credit score is a numerical expression that represents a person’s creditworthiness. In other words, it is the person’s capability to pay his/her bills and the likelihood to pay bills on time. Whether you are applying for a mortgage, a car loan or as simple as applying for phone service all of this boils down to one thing: the 3-digit number on your credit score. In addition, your credit score dictates the computation of your interest rate of your loan.
It is important to always be aware of your credit standing. Remembering the amount due and due dates are often overlooked causing damage to your credit standing. The years and efforts we put in to establish a good credit score can be ruined in the blink of an eye. The bad part is undoing this damage takes time and there are no shortcuts. There are a few ways on how you can avoid this or repair your already damaged credit score.
Managing your finances responsibly over time is the key to keeping a good credit standing. You can start by checking your credit report, making sure that there is no incorrect data listed, or the amount you owe for an open account is correct. If it’s not correct you can file a dispute with the credit bureau.
If your problem is due to missed or late payments you can enroll with your bank or from a credit card company to authorize an automatic drafting of the monthly payment. The drawback, however, is that if there are overdrafts for an insufficient fund, the overdraft will also affect your credit standing. You may want to look at overdraft protection with your bank or credit union.
These are quick tips on how you can fix or maintain your credit score. These tips will positively help you get back on track. One is by paying your bills on time and if you have missed payments get current and stay current. Avoid using your card for unnecessary items, better yet, pay in cash. If you’re planning on opening a new credit account, make sure to manage it responsibly.
Running away and neglecting your debts is far worse than confronting it. Better fix it now, who knows you might be in need of a house or a car very soon.
About Jeff Daley:
Jeff Daley is a REALTOR® and owner/agent of Luxury Valley Homes real estate. He is a member of the International Institute for Luxury Home Marketing and has taken specialized training in the selling and marketing of upper-tier homes. He holds an a PhD and MBA from George Washington University and rose through the ranks to senior management within Lucent Technologies with responsibilities for marketing and operations before taking early retirement in 1999 and starting his second career in real estate. Jeff has won numerous awards in real estate, is a Certified Luxury Homes Marketing Specialist, a member of the Millionaire Guild, has certified as a Graduate REALTOR® Institute, Distressed Property Expert® and e-PRO. Daley is published in national publications, is an instructor for real estate and is a distinguished combat Veteran and a member of the Veteran of Foreign Wars.
He and his partner/wife Jane have their business in Scottsdale, Arizona where they serve the entire Valley of the Sun area and specialize in International and Scottsdale real estate. Jeff is also available as a media resource for interviews or articles.
For more information, contact Jeff Daley at Luxury Valley Homes in Scottsdale, Arizona at 480-595-6412 or email.