It’s a brand new year, so there’s no time like the present to start rebuilding your bad credit. Making and keeping a resolution to give your credit rating a boost can result in new opportunities and an easier way of life.
As a New Yorker, you know that you live in the greatest city in the world. You have easy access to great restaurants, entertainment, museums and shopping. But living in New York City is expensive, so even if you have a great income, you may find yourself facing bad credit.
Having bad credit can make life more complicated in several ways. And, fortunately, damaged credit can be repaired, but it won’t happen overnight.
Considering how important your credit report and score are to your financial freedom, when inaccurate information is reported, such as a collection or a late payment that isn’t yours, it can hit your scores hard, and disrupt your life.
Credit reports seem confusing with all of the information and numbers you’ll find on them. However, they can be broken down into four main sections, and once you understand what you are looking at, they become much easier to comprehend.
While it is ideal for consumers to have a low amount of debt, simply avoiding credit will put you at a lending disadvantage as well.