With credit scores so important when trying to get a loan - any loan - it pays to be aware of anything that might lower your score. A large part of your score is based on making payments on time for your mortgage, auto, and credit cards. Now, it seems, other potential creditors may turn up on your credit report as well. You may find that unpaid traffic tickets or even library fines are turned over to collection agencies, which report to the credit bureaus. And telephone and cable companies are looking at reporting your payment history to the credit bureaus as well. If you always pay on time, that could be a great help in obtaining a loan. But if you are regularly late, your score could drop like a rock.
Check your credit report regularly. You may obtain a free copy of your credit report at http://www.annualcreditreport.com/.
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