How to Repair Your Credit

How’s your credit? Did you know that bad credit affects more than just your money? 

Most people know what good credit means, and they know that having bad credit makes them ineligible for anything but the highest interest rates and worst terms. But bad credit affects other aspects of your life. Here are some important ones:

Ability to rent an apartment or house:
Most landlords are deeply concerned that potential tenants must show evidence of responsible behavior. People with bad credit may find that, even if they can afford to live in nice apartments, they cannot find landlords who will rent to them except in questionable neighborhoods. 

Insurance:
Insurance companies may also request a credit report. A poor credit history is an indication to them of possible future losses. That could result in higher premiums, or just being turned down altogether by reputable insurers. 

Prospective employers: 
If a job involves cash handling, or responsibility for cash or other assets, there’s a good chance a prospective employer will obtain credit reports on all applicants. This is perfectly legal, according to the Fair Credit Reporting Act, although, if bad credit plays even a small part in the decision not to hire someone, the employer is obliged to notify the applicant of that fact.

If this sounds like your situation, it should be clear that you need to do some damage control to get your credit back on  track. But beware of those who offer to help.