Bad credits history revealed:
In lending institutions, there are only two main characters, the lender, and the borrower. The lender is the one who allow somebody to borrow a particular amount, services or materials that has a corresponding interest payable in certain period. The borrower on the other hand is someone who borrow such goods and services by the lender with the agreement that he will pay it on the scheduled agreement both the principal, interest and penalties. When someone deviates from what was agreed, a problem arises. The burden is always on the borrower because he is the one paying. Bad credits arises when the borrower cannot cope up anymore his promised payments on a monthly basis and incurred some delays to the point that payments goes beyond the due date. You can check ezcreditscores.com for any topic related to good credit scores.
If you are on the same situation, do not be dismayed. Do not hide from your lenders if you happen to miss out some payments. Lenders are human too, they feel and listen to your reasons. Just tell them the reasons why you have incurred such delayed payments and they will give you additional time to pay. In most cases, people will start hiding once they cannot pay their obligations. The reality is, the more you hide the more the lender will enforce penalties and interests. Talking with your lenders when payment problems comes would be beneficial on your part, Lenders will see this as a gratitude that you have the intention to pay your obligations and will not run away from it.
There could be many reasons why you end up having bad credits. These reasons might as well give you still a \very good credit scores if you have constant communications with your lender. If your lender agreed for an extension or if the lender agreed to lower down your monthly payments so that you can pay it then be sure to follow this and live with your words. There is no more third chance in the lending industry. It is always a second and the last chance.
How would you keep your credit history clean?
1. Pay your obligations on time.
Always set aside from your income an amount needed to pay your loan bills. Do not practice delayed payments and have it listed on your priorities.
2. Do not default or miss payments on your debts including the taxes, interest, and penalties if there is any.
3. Pay your credit card bills on time every end of the month or before the purchase reaches to 30 days period. Do not wait for your bills to arrive before you will pay your bills. Sometimes courier is delayed and if you received it beyond 30 days, interest is already on it.
4. Don not change so often about your home address or office address, which might affect your credit records. Lenders might think that you are difficult to locate because you frequently change your residence or jobs.
5. Monitor and examine your accounts regularly for identity theft. You might be a victim of someone using your name and later on give you hard time to loan because of such bad credits records, which you did not do it for yourself.
Bad Credits may not sound good but you can solve it right away. Just make sure the next you borrowed, you are able to pay it on time.