Borrowing money and then spending it is not overly difficult; but, you could quickly find yourself drowning in debt and with a bad credit score, making it difficult for lenders to trust your ability to make payments in the future. According to Northwestern Mutual’s 2018 Planning and Progress Study, the average American now has about $38,000 in personal debt, excluding home mortgages. That’s up $1,000 from a year ago.

Rebuilding credit is critical to financial success and at Credit360, we want to help with rebuilding credit so you can feel more financially relaxed. We are so confident of our services that we provide a 90-day money-back guarantee.

What is bad credit?

If you have credit cards or loans and fail to make payments on time or at all, this could result in receiving a low credit rating, aka bad credit. Having bad credit will prevent your ability to get approved for new credit, if and when you need it. A low credit score essentially makes you a liability for lenders and prevents them from approving your request for new credit. If your credit score is low, you will want to think about rebuilding credit and increasing your credit score.

How are credit scores determined?

The Fair Isaac Corporation (FICO) looks at a range of credit information and uses that to create scores that help lenders predict consumer behavior, such as how likely someone is to pay their bills on time (or not), or whether they are able to handle a larger credit line. Credit scores range from 300 to 850, with 650-670 being considered the low end of a “good” credit score and lower scores indicating increasingly bad credit. Not paying your payments on time or at all will undoubtedly result in lower credit scores. If your unpaid bills are sent to a collection agency, this will also affect your credit score negatively. In extreme cases, the inability to pay off debt could lead to filing bankruptcy or having your car or home repossessed. Don’t let your bad credit get worse, let us help you with rebuilding credit!

Why a good credit score matter

Being in debt isn’t necessarily a bad thing. Debt allows us to secure mortgages, finance vehicles, pay for tuition, and more. However, when you have the inability to pay down your debt by making regular payments, that’s when it becomes ‘a bad thing.’ If you have failed to make payments on your current credit agreements, lenders won’t want to approve you for future loans. If you want to purchase a new home, for example, and have bad credit, this will affect the amount you are approved for, if at all! Rebuilding credit will be essential to your future financial success.

How can Credit360 help?

Credit360 is here to help you achieve your optimal credit profile by making the credit repair process convenient, individualized, and effective. Credit360’s specialized credit repair processes, credit expertise, and guaranteed customer service makes us the best in the industry. We are proud that we have had the opportunity to help thousands of Americans with rebuilding credit and to correct their credit reports. Contact us today and let us help you!