Non-Credit Items that can Ruin your Credit Score

NonGreat credit should be based on your credit score right? Well, it is and it isn’t. Did you realize that there are non-credit items that can ruin your credit? Although this list is not all inclusive, it will make you think about other areas of your life that you need to pay closer attention to.

Medical Bills

Did you know that medical bills left unpaid will most assuredly be turned over to a collection agency and which is then reported to the credit bureau. Medical bills can be treated just like credit card bills except that they may be more lenient with you for payment plans with little or no interest.

Employment

Did you know that the credit bureau views frequent loss of employment as a ‘negative’ which can hurt your credit score. Long term employment and a steady paying job shows you have the means to repay your debt.

Co-Signing A Loan

Never co-sign another person’s loan. You become the responsible party to pay back the loan. If that person defaults on that loan, or misses a payment, that shows up directly on your credit report.

Unpaid Parking Tickets

Do you have unpaid parking tickets? You headed out shopping but realized you only have enough change to shop for an hour …….when you finally return to your car, you find that dreaded ticket on your windshield, so you throw it in your glove box and totally forgot about it. Just like other debts, unpaid traffic or parking tickets that go unpaid can be sent to collections and ruin your score.

Utility Bills

Did you know that some utilities show up on your credit report. If you pay them late or they are shut off with balances unpaid, they will surely hurt your score.

The key to keeping your credit score high, is being financially responsible. Pay attention to the non-credit areas of your life as much as you do those credit areas. Save yourself broke and eliminate your debt.

Non-Credit Items that can Ruin your Credit Score
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Rochelle

Rochelle

My firm has 3 goals – be cost effective & efficient, make complicated things simple, and change the way people think about attorneys. We do this by offering flat rates with payment plans, educating our clients, and by encouraging everyone to ask us questions to better understand what we do & why we do it. I am a credit attorney and I love helping people with debt and credit legal issues.

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