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If you have to file bankruptcy, your credit has already been seriously damaged by your credit history. Any form of bankruptcy will help. Chapter 7 will help the quickest, since everything happens, if filed properly, within 6 months. Chapter 13s can last up to 5 years, and most fail before the plan is completed.
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Where can I find more information about credit scores rating?
You can obtain additional information about credit score rating and possible solutions at the following websites: www.bankrate.com/brm/news/credit-scoring/20031104a1.asp.
Do you need good credit for an auto loan?
For the more expensive cars you will need a good credit rating,you credit rating is a way of letting the lender know how much he or she can lend you with the probability of you paying it back.
What are the dangers of having a poor credit rating one is getting a loan?
There are very few actual dangers, however inconveniences of having a poor credit rating when one is applying for a loan are that the lower one's credit rating is, the less chance one has of gaining the loan one wants. Another inconvenience is that if one has a poor credit rating, one does not attract the more favorable interest rates that someone with a good credit rating will attract, and the amount of credit one is offered may well be a lot lower than a person with a favorable credit rating.
How is having good credit beneficial?
A good credit rating allows a person to gain more credit and at preferential rates. This is because lending institutes use a credit rating to establish if a person has a reliable history of repaying money on time.
Is My Credit Rating Essential In Acquiring Financing?
Credit ratings have become progressively more essential inside a financial institution’s decision to lend money. Most banking institutions make use of a credit rating being an indicator of methods an individual handles their finances. Just before using for a loan, you can purchase your credit rating and credit history. The SBDC can measure the impact your credit rating is wearing what you can do to secure funding.
Does it hurt your rating to cancel a paid off credit card?
No, you should always cancel them out if you have plans for them. It is viewed as a bad thing when there are more cards available to you. The more cards you have the more can can go into debt. There fore the less is better from a credit rating standpoint.
How do I improve my credit rating?
The best way to improve your credit score is to pay off any outstanding debts you may have. You can find out more ways to improve your credit rating you can visit http://www.aaaprocreditsolutions.com/adwords/?gclid=COv177G7_KkCFQFN4AodU28vVQ
What are the credit requirements to open an internet merchant account?
Merchant accounts are often given to individuals with no or poor credit ratings. However, the longer that you are in business and as your monthly charge volume grows, your credit rating becomes more important, and it is then important to have a good credit rating.
Why is the credit rating downgrade for the United States from ''AAA'' to ''AA plus'' bad?
For the same reason that when an individual's credit rating is downgraded: it costs more to borrow money because of increased risk to the lender.
If I use a tax attorney to lower the amount I owe to the Irs does this result in a bad rating on my credit or are there any other adverse effects?
Your credit rating is affected by not paying your debts.Anything you can do to lower your debt raises your credit rating,so reducing a debt to the IRS would help your credit rating a lot.So long as the lawyer doesn't cost more than he saves you there's no downside,assuming he is able to do what you hire to do.
Where can I find more information about credit rating free?
if you are looking to find your credit score, you can visit freecreditscore.com this is a website that will give you your credit report for free.however, be weary of scams.
Why should you strive to maintain a good credit rating?
If you have a good credit rating, then lenders (such as banks) will be more willing to lend you money. It is possible that at some time you will wish to borrow money, for example, to buy a house.
