Credit Issues And How To Improve Credit
Why focus on rebuilding your credit? Having good credit makes it easier to get a loan. It so helps you take advantage of lower interest rates, which is key to lowering your monthly loan payments. Having credit problems, on the other hand, can count against you when you're applying for any type of loan or credit – including if you want to purchase a home, refinance your home loan, get a home equity loan and much more.
Rebuilding credit takes time—but less time than you might think!, You can start today by consolidating the total amount of debt you owe, paying off your higher interest rate debt and reducing the number of bills you have to pay by obtaining a refinance home loan. At Countrywide Bank’s Full Spectrum Lending Division, we're eager to help you on the path to less debt and an improved credit score.
Use the links below to get fast facts on credit. Discover what's reported to lenders in your credit history and how to improve your credit rating.
Learn more about credit and how it can affect you:
- Credit Basics
- Find out what good credit is and why it's important to you.
- How Credit Affects Interest Rates
- See how your credit record affects the interest rates you're offered on loans.
- About Credit Scores
- Learn about credit scores or ratings, the bureaus that produce them, and how you can get a copy of your credit report.
- How Credit Scores Work
- See what affects your credit score and why.
- How to Improve Credit
- Discover things you can do right now to start improving your credit rating.
What causes bad credit?
It's important to know that what one lender calls "bad credit" may NOT be bad credit to another. At Countrywide, we specialize in helping people with less-than-perfect credit put financial difficulties behind them.
Circumstances that can damage good credit include but are not limited to:
- Unknowingly taking on more debt than you can repay
- Medical or other emergencies that produce a large debt seemingly overnight
- Divorce, disability, unemployment or other disruptions to household income
Any of these circumstances can turn a responsible, well-intentioned borrower into someone who has fallen behind in bill-paying, defaulted on a loan by failing to repay it, or even declared bankruptcy. Fortunately, improved credit is within reach of every borrower!
The professionals in Countrywide's Full Spectrum Lending Division are experts in serving people who have experienced these kinds of circumstances. Once your debt load and regular payments are back on track, you can be confident that your good credit usage and payment behavior will translate into an improved credit score.
The good news is that if you've had credit problems in the past, there are a number of things you can do to improve your credit score. Countrywide Bank’s Full Spectrum Lending Division prides itself on going out of our way to help our customers – we see the bigger picture and are willing to go the extra mile to find a solution that suits your needs.
Give Countrywide a call today at 1-800-909-8217. Let's talk about your credit history, and see if we can help you find a loan solution that achieves your financial goals. If you think you have bad credit, you may be surprised to learn that you qualify for a prime loan. You’ll never know unless you call.
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