How to rebuild your credit score after a payment default

If you miss a loan payment, it's not the end of the world. Lenders usually give you a delinquency period to catch up on payments before a payment default occurs. Defaulting on a loan has serious consequences, including lowering your credit score and potentially leading to the sale of your pledged assets. To rebuild your credit score, focus on maintaining a clean payment history, a low credit utilization ratio, and a diversified credit mix. Regularly check your credit report for errors and avoid settling debts for less than the total owed. https://ift.tt/NF0upVW