Bad credit score does COST. For example, say you bought a house for $150,000 – at a 30 year fixed rate, with one point in fees, and a down payment of 20%. If your credit score were 620 intead of 740, you’ll pay $184,695 more in interest over the life of your loan. That may [...]

Your credit score is a critical measure of your credit standing used by creditors who want a assessment of your risk potential as a borrower. The higher your score, the lower risk of a default. 60% of Americans are paying MORE for items financed, because they do not have a 740 FICO score. Second Chance [...]

Even under ideal circumstances, job hunting can be stressful. When you consider the fact that employers run a credit check before making a job offer, your stress level can increase as your opportunities decrease. Second Chance Credit LLC can help you get out of bad credit.

Landlords get credit reports on tenant applicants. They may refuse to rent to you, require a cosigner, or increase the amount of deposit if they see that you are a risky customer due to your credit score/history. It’s very COSTLY to have bad credit

BANKRUPTCY doesn’t look good on your credit report. This event appears as a public record in your file and it stays there for 10 years. Worse, it causes your credit score to plunge as many as 200 points. Declare bankruptcy and you’re likely to see your score drop to the 500′s or worse. That will [...]

Here in the United States of America, people don’t go to prison if they can’t pay their bills or loans. What happens is that the companies you owe and did not pay, as a way of getting back at you, they then TARNISH your credit. Tarnish/Bad credit stays on your three credit reports from 7 [...]

A student loan is not secured with collateral. Whether you graduate or not, you may defer the payment of loans until another time. Situations include economic hardship or unemployment. When you’re in default with a student loan, you can’t defer payment of the loan. You won’t be eligible for further student aid, your school may [...]

One very easy way to hurt your credit is by applying for loans. You want to AVOID large numbers of inquiries on your credit report, particularly if you have few accounts or a short credit history. Every inquiry for financial purpose lowers your credit score by 5 points. Those 5 points that you lost, will [...]

Closing an account you wish you never met doesn’t make it go away. A closed account will still show up on your credit report and be considered in computing the score. Say you have a credit card with a negative mark on it. It will still be reported and scored after it is closed.

If you think your credit isn’t bad enough to warrant a panic attack, good for you. Bad credit doesn’t always mean you’re behind on your bills. You may be defined as a bad credit risk because of your borrowing patterns, rather than your paying patterns. You may look like someone who’s bound for a credit [...]