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Don't Pay Your Minimum Balance on Credit Cards
You have two or more major credit cards comfortably snug inside
your wallet. You are quite proud of them and they seem to act
like your security blanket. But are you sure that security is
the commodity being offered by the credit cards? The...
Five Easy Steps to Repairing Your Credit
Have you damaged your credit rating, and now need to repair it? It can be a long, tedious process, if you aren’t sure of exactly what to do. And if you decide to work with an agency that specializes in this type of work, you’re paying someone to do...
Homeownership Is Still Possible With A Flawed Credit History
Besides lack of a down payment, bad credit is one of the biggest obstacles to homeownership. However, just because you have blemishes on your credit doesn't mean that it has to be a dream deferred. It just means that you need to go into the...
How Your Personal Credit Affects Your Chances of Getting a Business Loan
Your business idea first begins with a dream, and then extends to a passion. The passion to do what you love leads you to need financial assistance. Having the means to expand on your passion will bring hope to your livelihood. Does your personal...
Why Choose a Bad Credit Personal Loan?
One of the reasons for choosing a Bad Credit Personal Loan is that it is a loan specifically designed for the many people with a bad credit rating.
However created, your past record of CCJ’s (County Court Judgements), mortgage or other loan...
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Debt Counseling Solutions for Credit Repair
Is debt counseling a solution for credit repair? Debt Counseling
Services and Credit Services are Organizations that are
sponsored by most of the creditors. Most Debt Counseling
services are nonprofit organizations; however there is few that
are on their own. Before you can contact a Debt Counselor you
must have some source of income.
The counselor provided you will often contact your creditors and
alert them that you are making the effort to repay your debts.
Once the creditors have been contacted, the organization will
next work out an agreement that works with your current budget.
After a decision has been reached you are expected each month to
make a payment toward paying off your creditors. Your money goes
first the organization where you have asked for help, and then
is forwarded to your creditors. Once the creditors receive your
money, the Counselors ask the creditors to deduct a small amount
of funds to pay for their services.
There are some debt counselors that will waive interest on your
balance, however, most counselors will not. If you are unable to
meet your payments each month you might be required to pay late
fees. The only real advantage you have by using a Debt
Counseling Agency is that you won't see bankruptcy on your
credit report although the two are similar. The best solution
then for repairing your credit is taking the ball in your own
hands. If you take back the control that was robbed of you, you
have the advantage of getting out of debt without further
complicating your situation.
One way of taking back your control is to set up a monthly
budget plan that works to payoff your debts and leave you enough
funds to survive. Survival takes less than most people believe
in the sense we often purchase items we don't really need. If we
purchase minimal grocery necessities and other necessities we
will find more funds available. There are several solutions for
cutting back on house items for cleaning. Generally, soap and
water is sufficient for cleaning your home.
Better yet, if you have laundry detergent you can clean
carpets,
wash windows, clothes and so on. One solution is possible to
handle multiple tasks; therefore buying multiple products for
house cleaning is often a waste of money. The advertisements
that tell you this product works better than the other is often
a gimmick to lower you into a debt. Another idea is it is
possible to cook dinners that last for more than one day.
Also, you could pack a lunch instead of buying out when you are
at work or on a trip. If you are taking trips regularly and it
isn't for business purposes, you might ask yourself how you can
cut back. When you cut back on trips you are cutting back on gas
mileage, meals, and hotels and so on.
Anytime you can find a solution to cut back you is making effort
to repair your credit as long as you are spending the savings on
your bills. If you are trying to save money for trips or items
for your home, you might want to put this off until you get your
bills paid. Remember when you pay off your bills first, money
will flow more freely for other desires in life. If you are
having difficulties meeting monthly obligations contact your
creditors and explain your situation. Many creditors will work
to find a solution rather than taking a complete loss. Be ware
that some creditors are greedy and don't really care how hard
times are for you.
These types of creditors want money and they want it now! The
best solution then for dealing with creditors is to payoff the
most imperative bill first and work your way through each bill.
If you have bills that are not necessary terminate them for a
short-time until your credit is repaired. Bills such as cable or
satellite, Internet if not used for work and other
entertainments can wait. Bills are a part of our daily lives and
avoiding bills is not a solution for repairing credit.
Therefore, Debt Counseling is not the best solution for
eliminating debt.
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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| Credit/Debt Management - Tools and Advice for Managing Credit and Debt |
| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
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