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Credit score improvement is a big deal for anyone seeking to increase their scores. The challenge is what truly works and why does it work. Boosting credit scores is all about structure, debt management, types of credit and timing of credit account development. That may sound like a whole lot of fluff, but it is all the way truth. When there is alot of debt in someone’s life and that debt is tying them up in a way that their a personal credit scores suffer, than that becomes a very stressful situation.

Credit history is highly dependent on how you pay your bills. Credit history is generated by a relationship with a creditor who has granted and/or approved some kind of credit account. The goal in managing debt is to ensure payment history is accurate, sufficient and does not go beyond the approved credit account. When debt restructuring becomes necessary, this is the only way, your credit scores can either improve or decline. Restructuring debt often requires an approval for some kind of loan account that either lowers the interest on the balance the individual is carrying and a time period to pay the balance is limited for a special offer.


The key is to figure out if your situation can benefit from a restructure and on what terms. Here are things to keep in mind:

1) Late payments associated with a credit account do not go away if you restructure existing debt.

2) Balance transfer credit cards or loans are a form of debt restructuring and can definitely help in a way of collapsing accrueing interest on existing debt.

3) Credit scores will continue to be affected even if you transfer existing debt into a new credit account like a credit card or loan because the debt will reflect on you credit history if payments are slow and/or do no cover all accrueing interest.


The most important aspect to this process is what kind of timeframe can be committed to reducing the debt owed. A lower interest rate is only part of the equation. More money will be spent on reducing debt irregardless of interest without identifying a game plan to pay it all off. Credit scores can increase after a debt reduction plan is initiated and payments are not applied on a timely basis according to the loan terms and payment dates.

I hope you find this article helpful. Too often we seek a quick fix, but do not understand how to use the opportunity identified. To learn more about credit scores and increasing your loan application approvals, be sure to download my Guide.

Boosting credit scores can be intricate and challenging especially when seeking a loan. I am always here to help you, you can book a Triage call with me here

Talking out the situation is ideal because we can get to the root and find key areas to get you on path to better credit.

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