A client was given a 45 day notice to vacate her rental property. Never the less, the management company charged her for another month. Our client refused to pay. The bill ended up in collection and her credit score dropped from 750 to 687. As a result, she cannot refinance her rental property and has difficulty in purchasing the new home she wants to occupy.
To get a mortgage, collections need to be paid off.
One of the solutions was to hire a credit cleaning company, but it will take at least 6 months to get results.
Be prepared and always monitor your credit!