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Aug 27

Four Ways Homebuyers Can Protect Their Credit

It doesn’t take much.

A few late payments to the mortgage company. A forgotten gas card bill and, suddenly, your once stellar credit rating is wallowing in the mud.

In today’s faltering economy, where jobless claims are up and home values are down, such scenarios are all too common as a growing number of consumers fall behind on their debt obligations.

Indeed, the number of personal bankruptcy filings hit 822,590 in 2007, up 38 percent over the 598,000 filed in 2006, according to the Administrative Office of the U.S. Courts.

Dana Dratch of Fox Business News shares four tips on how to improve your credit score.