Many types of credit are available to consumers today,which is no susprise to you.There are various types of credit cards and lines of credit and endless variations of credit terms that seems to exist,most credit can be classified in to two major types.
-
Secured Credit- As the name implies,security is involed-that is the lender has some protection if you default on the loan. A secured loan is back by property,house,car furniture etc.
-
Unsecured Credit- This type of credit is usually more expensive,shorter term and considered a higher risk by the lender because it is back by a promise to repay the loan. Credit cards fall into this category. Second Chance Credit Service specialize in deleting secured and unsecured incorrect negative items deleted.
Why do you need credit?
To accomplish the above goals you need credit. Credit is an essential tool in achieving your future goals. Second Chance Credit Service can help you get the credit you deserve.
If You Divorce and Credit.
If you're considering divorce or separation, pay special attention to the status of your credit accounts. If you maintain joint accounts during this time, it's important to make regular payments so your credit record won't suffer. As long as there's an outstanding balance on a joint account, you and your spouse are responsible for it.
If you divorce, you may want to close joint accounts or accounts in which your former spouse was an authorized user. Or ask the creditor to convert these accounts to individual accounts.
By law, a creditor cannot close a joint account because of a change in marital status, but can do so at the request of either spouse. A creditor, however, does not have to change joint accounts to individual accounts. The creditor can require you to reapply for credit on an individual basis and then, based on your new application, extend or deny you credit. In the case of a mortgage or home equity loan, a lender is likely to require refinancing to remove a spouse from the obligation.
How Your Employment Status Affects Your Credit Score
A great many people are concerned about whether or not their employment status has an affect on their credit score. It is an excellent question that requires a rather lengthy explanation. By law, credit bureaus are prohibited from using employment status as a part of the mathematical formula that they utilize to formulate your credit score. So no, employment status does not affect your credit score. But it isn’t quite that simple.
Your credit report does contain a considerable amount of your personal information, including past and present employment histories. If you are unemployed then that information is pretty easy to decipher for any party that is so inclined. Note the distinction that we have made here though. Your employment status is NOT figured into your credit score, but employers are recorded on your credit report.
The fact of the matter is that if you are currently unemployed, for whatever reason, your chances of getting a loan or being extended credit are greatly diminished. Here is why: a variety of factors are taken into consideration when you apply for credit. These factors include, but are not limited to, how much debt you currently have, your credit history, your employment history and your current income
Obtain a better carreer today with higher FICO scores.
DON'T DELAY
CALL TODAY!
SECOND CHANCE CREDIT SERVICE
1-336-491-3447
DO YOU NOT DESERVE A SECOND CHANCE?
