Divorce, sudden passing of a spouse, being laid off from a job…life can take many unexpected turns. When that happens, your credit can be negatively impacted, and a low credit score can make life even more difficult. For example, you may not receive approval for an auto loan and cell phone plan, and you may not get that dream job and better apartment.
But don’t fret. You can rebuild your credit with the right steps and a plan, like our customer Angela. Angela found herself unemployed, and as a result, she fell behind on her mortgage payments. She tried different loan modifications to keep her home, but that made her situation worse – her credit score went down to 485!
Angela had to start over, so she sold her home – but her low credit score made it difficult for her get a fresh start. Her application to rent an apartment was denied. Her car was breaking down, but she couldn’t afford to a new one since she was denied an auto loan.
To rebuild her credit score, Angela focused on paying all her bills on time. She also researched other ways to improve her credit score, and learned that solutions like RentReporters can report on time rent payments to TransUnion. So, she signed up, and today, her score is in the high 600s!
Like million of Americans, our customer Michele went through a divorce. After, her credit score dipped to the low 600s, and as a result of her low credit score, life became difficult. It didn’t matter that she had a good job and made good money. Michele’s car insurance rates doubled, and she had a difficult time getting approved to rent an apartment. She quickly learned that if you don’t have credit, you don’t have anything.
Michele decided to rebuild her credit score by pigging back off other trade lines and opening secured credit cards. But, what had the greatest impact was her joining RentReporters. She signed up and in two months, her credit score shot up to 670!
Like our customers, you too can get on the right path to make “what if you could” a reality as you rebuild your credit.