Information about you and your credit experiences, like your bill-paying history, the number and type of accounts you have, whether you pay your bills by the date they are due, collection actions, outstanding debt, and the age of your accounts, is collected from your credit report. Using a statistical program, creditors compare this information to the loan repayment history of consumers with similar profiles. For example, a credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points, a credit score, helps predict how creditworthy you are and how likely it is that you will repay a loan and make the payments when they are due.
Credit MD, a free On-line information guide that helps people that have bad credit in the United States, Canada, Ireland, United Kingdom, India, South Africa, Australia, and New Zealand explains to consumers how credit scores are calculated and has some helpful tips on how to improve them at http://www.badcreditcheckingaccounts.info/
To improve your credit score under most credit scoring models, focus on paying your bills in a timely way, paying down any outstanding balances, and staying away from new debt.
Bad Credit MD has been in business helping consumers with bad credit since April of 2007 and is a subsidiary of Enticing Designs Publishing. The staff has various backgrounds in the financial and mortgage industry. This self-help site has over 500 pages of credit advice and articles. Its staff has researched its information with various governments around the world to provide the most comprehensive and accurate information free of charge.
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