The majority of people that need to improve their credit score have a great deal
of blemishes on their credit report, which is used to determine a person's credit worthiness and their record of repaying money that they have borrowed from lenders.
So, while bad credit indicates that you have more than enough credit activity than the person with no credit, there are too many
significant blemishes on your credit report that may discourage lenders from wanting to work with you.
Many people currently have
blemishes on their credit report caused by circumstances out of their control - lost income due to businesses that closed or laid off many good workers, homes foreclosed on, changes in the unemployment payments and laws — and these lenders understand that and want to help!
A person with a fair credit history for the last few years will be much more attractive for companies to help improve their credit score than a person that has a great deal of
recent blemishes on their credit report because it shows that the low rating numbers are justified.
But just because you have negative marks on your credit report doesn't mean you can't get approved — there are plenty of data points out there of people getting approved for the Reserve even
with blemishes on their credit report.
While
the blemishes on your credit report go away after seven years, a judgment can go on for 10 years or more.
For how long can the bank put
a blemish on your credit report, and when does the time period begin?
Once your debt and spending habits are in check, your credit rating and FICO ® credit score will soar and
the blemishes on your credit report will vanish.
I had
a blemish on my credit reports and Gloria and Eli were recommended to me by one of my bankers!
A large percentage of Americans suffer from
a blemish on their credit reports.
You can certainly have
blemishes on your credit report and maintain at least a 620 score.
So, choke down some high fructose corn syrup, find the humor in the bright, new Mighty Mouse tattoo, and know that someday
that blemish on your credit report will go away.
If you want to obtain a mortgage loan, you will need to ensure that your credit score is solid and that there are
no blemishes on your credit report.
Provided you take the right steps, auto insurance cancellation is a smooth process that will yield no penalty or
blemish on your credit report.