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Credit Repair Skipping to Build
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Build Credit in your Name
If you have delinquent credit and are married, you might want to
build your credit in your name instead of using your spouse.
Somebody has to have stability. Also if you are divorced and all
the credit cards of credit information are in your spouse's name
you will need to reestablish your credit in your name.
Getting your credit reestablished is the first step to
repairing your credit. When you obtain your credit report you
will see that your spouse's name is listed on the credit
reports. This is because together you and your spouse applied
for credit cards, took out car loans or what have you. This
means that you are responsible for your spouse's account. The
advantage is that credit bureaus cannot list the negative
accounts against you if you are divorced.
Once you have copies of your credit report you will then need
to cancel all joint accounts. If you contact the creditors to
resolve the issues on your credit report be sure to ask the
creditors to take in consideration your spouse's credit history.
It is important to bring into light your spouse's credit history
when applying for a loan. Let the lenders know that you are now
divorced and starting your own credit line. If you apply for
credit cards, be sure the cards are in your name and use them
wisely since this helps to rebuild your credit quicker than most
sources.
Make sure that you pay minimum balance on the credit card
accounts each month to avoid delinquencies. If at all possible
when you see that your funds are low; pay your bills rather than
making a purchase on your credit card. Once you bills are paid
be sure to make a payment on your credit card. This method not
only keeps you out of trouble with other creditors, but offers a
solution for repairing your credit. If you can afford to pay
your bills each month and use your credit card be sure to only
purchase items you need and keep it at a minimal.
If at all possible payoff your credit card balances each month
to avoid interest. Interest
rates cost an additional hundreds of
dollars in the long run, so paying off your dues on time can
save you money. If you don't have credit cards and decide to
choose a card be honest on your application and look for the
best interest rates available. If you are in debt it is wise to
payoff your dues before applying for a credit card, unless you
intend to use the card to get out of debt. If you plan to use
the card to get out of debt search for the best interest rates,
as well as cards that offer cash back on your spending. There
are tips for managing credit cards to repair credit. It is
important that you are consistent with the use of your name.
For example, if your name is Robert Leon Swisher Jr., always
sign your name accordingly. Do not use your card dishonestly for
advantages. Few people believe that lying can get them out of a
problem. The truth lying gets you in deeper. If you are filling
out an application for credit cards tell the truth.
It is important that you understand the timeframe to apply for
a credit card. If you are out of work, lived at your resident
for less than a year or you have negatives on your credit
report, this is not a good time to apply for a credit card. If
you are stable it is always wise to apply with lenders where you
have done business with them at a later time. Building your
credit after divorce is difficult at times. However it is not an
impossible task. It is important that you are aware that most
credit card solicitations are gimmicks that only offer you a
solution for hanging yourself. Instead of getting out a rope, it
is wise to stay alert, and investigate any credit card offer
made available to you. Finally, you want to avoid low
introductory rates on credit cards since after about six months
the interest rates often hit the roof.
About the author:
Tony Robinson is a business owner with vast experience in all
facets of Credit and Credit Repair - for further tips and
techniques visit http://www.officialdebtfree.com
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