7 Top Issues on Credit Reports!

According to Linda Davidson with the Davidson Group Service First Mortgage, there are issues which they see over and over again. Maybe you can correct or make sure these are not on your credit report:

1. Not Paying Bills on times (especially in the last 2 years) along with multiple late payments and/or collections.)

2. Not Having Re-established Credit after a time period of credit issues ( Need 12-24 months in good favor and that must be reported to the bureaus in order to effect the FICO scores)

3. Having Major Derogatory in the past 4 years (Foreclosure, Repossessions, etc.)

4. All or most of the Credit Cards Are Maxed Out (the balances verses the high credit limits. Balances should not exceed 30% of the high credit limits in order to not have “hits” to the credit score.)

5. Closing Too Many Revolving Accounts (thus reducing the availability of credit)

6. Having Unpaid Judgments (Judgments must be paid and released before closing all types of loans)

7. Having Unresolved Attorney General Issues ( child support, etc.)