On the road to restoration

The more knowledge you have about your credit the easier it will be to take action and make better choices

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 Credit Services and You

Unfortunately, there is no specific set of instructions that apply to everyone. That’s why we encourage you to connect with YouCanComeHome.com so we can help develop a personalized plan to get you back on track. Below you will find some basic rules when managing your credit.

Always be on time!

Its extremely important that you devote yourself to eliminating late payments and going to collections. It does take time to eliminate these events and the best thing you can do for yourself and your family’s future is learn to eliminate these issues for the foreseeable future. Avoiding delinquency and collections will have the greatest impact on your credit score and result in a lower interest rate when you do qualify.

Keep credit inquiries to a minimum.

When your preparing to buy a home once again, try to avoid opening new credit accounts around that time. Every inquiry made will show up on your credit report and although some inquiries like mortgage loans will be acceptable you don’t want to give the impression that you are having financial difficulties. Therefore having little to no credit inquiries will serve you best.

Keep your balances down.

When it comes time to actually look at your credit and account balances its preferable if your debts are under 35% of your credit limit. For instance if you have a $100 limit keep your balance below $35. Additionally, if you’re thinking about closing any past credit accounts… DON’T! Best to just shred the card and keep the account open.

 

Other Credit Related Factors

 

HowYoureJudged

This pie chart should give you a better idea as to how your credit will be scrutinized.

 

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