Home Rent to Own | Power of Sale/Foreclosure | Credit Management Have You Been Declined For Home Financing? | Page 9

How Bad Credit Management
Can Impact Your Life
• If you plan on starting a business and need to access funds from a
bank or a creditor, bad credit creates obstacles in your way. You
might’ve worked for years to put a business plan together and
gather all the necessary data and figures only to have it all gone
down the drain because of a poorly managed credit.
• What can I do to avoid bad credit?
• There are a couple of things you can look out for to avoid your credit
scores going down. Payment history is among the major decisive
factors. It may not seem like a big deal but paying bills on time or
ahead of time positively affects scores and it shows that you can be
trusted with a financial commitment. Credit use history is also
something you should be carefully managing. Many credit score
models are based on the concept that past behaviours usually
predict future ones. This is why when a credit check is performed, all
of your accounts both old and new are evaluated and generally, it is
better perceived to have had a long and clean credit history.