Читать книгу Building or Refreshing Your Dental Practice - American Dental Association - Страница 31

Following are 10 simple steps you can take to improve your credit rating and ensure a healthy financial profile:

1 Maintain at least two or three revolving credit accounts such as credit cards and lines of credit. This shows you are creditworthy and able to manage debt.

2 Avoid applying for credit from too many lenders. Multiple credit inquiries within a short period of time negatively impact your credit rating.

3 Demonstrate that you know how to use your credit wisely by not using all the credit available to you.

4 Make on-time monthly payments on credit cards, mortgages, installment loans and student loans. Remember, many service providers do report late payments and collections to credit bureaus.

5 Consolidate your personal loans in order to improve cash flow and generate a better financial profile.

6 If you are in dispute with a creditor, continue to make minimum monthly payments while working towards a resolution.

7 Notify creditors in writing of your address change.

8 Avoid co-signing or guarantying a loan for a friend or family member, as it has the same impact on your credit as being the primary borrower.

9 Protect your identity. Review your personal credit report at least twice a year to ensure accurate reporting of all accounts. Inform all credit bureaus in writing of any discrepancies.

10 Keep copies of all agreements, documents clearing judgments or liens, and letters from creditors clearing discrepancies in your loan history. Note that all credit information stays on your records for up to 10 years.

Begin improving your financial profile at least 12 months before starting your practice design project. With a strong financial profile, you have far greater leverage for obtaining affordable financing at the best possible rates.