Page 12 - aruba-today-20230223

A12 BUSINESS
Thursday 23 February 2023

How credit scores are evolving to

improve access to credit

research during the pan-
demic, the three most-
used credit rating agencies
found that consumers with
medical expenses were
just as likely to be credit-
worthy as those without.
Effective July of last year,
paid medical collection
debt is no longer included
on consumer credit re-
ports, and the time period
before unpaid medical
collection debt appears
is now a year, up from six
This Aug. 11, 2019 file photo shows Visa credit cards in New months.q
Orleans. With interest rates rising, the cost of borrowing is going
up.
Associated Press

By CORA LEWIS The factors that go into Aruba Divi Phoenix
Associated Press calculating your score are Palm beach
NEW YORK (AP) — A low- complicated, and advo- 1 br WK # 8,9,10 room # 931
credit score can hurt your cates say it’s a positive studio WK # 8,9 room # 932
ability to take out a loan, that ratings agencies have 32 weeks remain on each
secure a good interest rate, started making it easier for Price : studio $ 10 K
or increase the spending consumers to prove that Price : 1 br $ 15 K
limit on your credit card. they’ll able to pay back Call:011-297-630-1307
Some reasons for a low money they borrow. It’s johnnypaesch@gmail.com
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trol such as unexpected called “thin file” consumers
medical debt or a lack of those with a lack of exten- Aruba Divi Phoenix
credit history. sive credit history, who are Palm beach
Credit rating agencies are often younger or lower in- 1 br WK # 13 room # 763
working to improve access come. 26 weeks remain
to credit by giving people “I do see that efforts are Price :$ 15 K
more time to pay medical being made in order to Call:011-297-630-1307
bills before the debt ap- equalize the credit score,” johnnypaesch@gmail.com
pears in reports, and by said Rosalyn Glenn, a fi- www.halleytimetravelaruba.online
removing other debt com- nancial advisor at Pru-
pletely. They’re also mak- dential who focuses on Barcelo Resort
ing it easier to count rent, expanding financial ac- Palm beach
utility payments, and other cess. “For instance, adding 3 bedroom 3 bath
recurring bills a boon for rental payments to credit Week 6 and 7 Penthouse
those who need credit the reports, because there is a all inclusive package meal and
most. segment of the population drinks
Here’s what to know: that rents and does not Price :$ 60 K
WHAT IS A CREDIT SCORE own. That’s exciting be- Call:011-297-630-1307
AND WHY IS IT IMPORTANT? cause the score can give johnnypaesch@gmail.com
Put simply, a credit score is them an opportunity for www.halleytimetravelaruba.online
a formula that lenders use better rates on things like
to decide how likely you insurance and loans. I do La Quinta Beach Resort
are to pay back a loan. If believe progress is being eagle beach
you’re considered a risky made there.” 2 br WK #9 room #212
bet, you will pay more to WHAT’S HAPPENING WITH Ocean view
borrow or may not be able MEDICAL DEBT? Price :$12K
to borrow at all. After conducting industry Call :0 11-297-6301307
johnnypaesch@gmail.com
www.halleytimetravelaruba.online

Property Land
For sale shaba Noord
865 m2 and 918m2
3500 m2
Price : $150 m2
Call:011-297-630-1307
johnnypaesch@gmail.com
www.halleytimetravelaruba.online
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