Is anyone else besides me confused and frankly tired of all this talk about credit in the news? Truthfully, I have lost hope that anyone with responsibility actually knows what they are talking about. However, it is important to understand how credit works because it can severely affect your day to day (or month to month) life.
It is hard to believe that an intangible concept determined by some group that does not even know your name can have such a huge impact on your life. In fact, it is quite creepy.
Chances are, if you are reading an article about credit restoration then you have bad credit that you need restored back to good. The most important part of restoring your credit is to understand what exactly your credit is and what things effect your credit. I put things and your credit in quotations because to me they seem to be ambiguous phrases that need to be clarified and explained in order to move forward to financial freedom.
You may be surprised to find out how your credit score in calculated. For example, your income is not part of the equation at all. The best part of your credit score is that it is calculated with a mathematical algorithm – which can be solved!
So is there a way to “beat the system?” Absolutely! This has nothing to do with cheating or manipulating. But a clear understanding of how your credit score is calculated will help you put forth efficient efforts to finding debt relief.
First of all, there is a difference in a credit score and a credit report. Everyone is entitled to a free credit report every year, but not their credit score.
Secondly, there are 5 factors that go into the algorithm that calculates your credit score. You will have to visit my website to learn more about these! These are they keys to finding debt relief and to restoring your credit.
