Financial monsters: As a Financial Advisor, I can sense the palpable fear and desperation when some people come to see me for the first time. It takes courage to come and, like the dentist, I am avoided until the pain of debt and fear of financial ruin become too much.
How is your credit rating determined? Your Credit Bureau score is calculated using a formula that evaluates how well or how badly you pay your bills, how much debt you carry and how all of that stacks up against other borrowers. The lower your scores, the less you stand a chance of obtaining a loan or other financing.