Dec 10
17
The lower limit of the credit score range considered good these days has just increased significantly.
In pre-recessionary days, ratings north of six and a half hundred were fine for many an auto as well as home loan.
Nowadays, that is certainly just “not bad” territory to the banksters.
Of course, three years ago credit was easy and seemed practically free.
The revised ratings of today simply reflect new realities.
All things considered, with tightened credit lines, it’s only reasonable that standards would be lifted, the whole point of which in the first place is to weed out people.
Hence the current good credit score range that looks more unattainable than any other time, smack in the midst of an economy that’s going to do just that, make a good credit score that much harder to achieve or, probably, maintain.
Enter the credit repair companies.
Their work is usually to bring people, even the bad cases, back into the good credit score range in order to qualify not just for loans but rental housing and even work interviews.
It’s a great time to be in this business, right now, insofar as almost everyone is in the dock for payment of some kind or another .
Key to restoring your credit is to first live well within your means.
(Well, technically speaking, securing a steady and good if not good or superb source of income is first.)
The truth is, this one step on it’s own will account for some three-fourths of anyone’s success at salvaging his or her financial good name.
In reality it’s all easier said than done, and that’s frequently as a result of deeply rooted psychological issues.
And that’s just the half of the battle that we could pretty much control in theory.
The other factor involves making the kind of money that makes sacrifices feel special!
