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Home Owners: Avoid Complications In Credit Repair
Avoiding complications in credit repair is almost important as
getting out of debt.
When we have bills that were neglected simply because we didn't
have the money to pay the bills, or else we purchased items
instead of paying the bills, we...
Poor Credit Home Mortgage Loans - The Role of the FICO Score
If you have bad credit history and are looking to get a home mortgage loan, then chances are you are going to need to know all about how the FICO credit scoring system works. FICO – Fair ISAAC & Company – is the leading credit reporting agency that...
Small Business Tax Credit - Americans with Disabilities Act
Many small businesses complain when confronted with the expense of complying with the Americans with Disabilities Act. Most do not realize that there are a number of tax incentives available to offset the costs. Importantly, one tax incentive comes...
Steps For Finding A Thin Or No Credit Motorcycle Loan
It is no secret that thin or no credit can hurt just like bad credit when shopping for motorcycle loans. The main reason for this is that lenders all have a variety of strategies on how to approach motorcycle loans in their loan portfolios. Some...
Tear Up Those Snail-Mail Offers - Apply For A Credit Card Online.
Monday through Saturday your mailbox is flooded with ads and sales pitches that are simply overwhelming. And where do they end up? Ripped in half and in the trash. Why leave the choice of your new credit card to some random mailing list with some...
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Immediate Steps To Improving Poor Credit
Credit can be a wonderful thing, but it can also be a dangerous
pitfall, with disastrous results, when it gets out of control,
even it happened through no fault of your own. If you find
yourself overextended, here are some ideas for improving your
credit.
The first step is to acknowledge your dilemma. Denial is a
natural reaction, but you absolutely must face up to the fact
that you're in trouble, and begin to work your way out of it.
Don't ignore your bills. That won't accomplish anything and will
only compound your poor credit problem in the long run.
The next step is to contact all of your creditors and tell them
your situation, the sooner, the better. Ask them to set up new
payment schedules for the debts you owe. Make sure that the
schedule you agree on is one you can actually manage. Contacting
them and being honest with them, telling them that you really
want to fulfill your obligations, but need to set up a different
repayment plan also shows them that you're sincere about paying
them back. In most cases, you'll be pleasantly surprised at how
willing your creditors will be to work with you on setting up a
new payment plan that you can live with. After all, they'd
rather receive their money a little more slowly than never
receive it at all.
Immediately stop charging anything else. That should be
obvious,
but being able to buy things on credit can actually become a
habit that can be very difficult to break. However, if you have
poor credit, the one thing you DON'T need is more debt! Take
your credit cards out of your wallet and put them away--or cut
them up, if you have to, to make sure they're not available for
easy use.
Those are the first steps toward improving your credit. You have
shown good faith with your creditors, and you've stopped
accumulating further debt. Don't expect miracles, because it
will take time to undo the financial difficulty that may have
taken years to get yourself in to. But you can do it, and you'll
find most of your creditors will be quite willing to help. After
all, they have a financial stake in this, too.
It can be a long, difficult process, but if you face up to your
difficulty, summon your courage, and then begin to take positive
steps, you CAN once again find yourself on the road to regaining
control of your finances.
Copyright © Jeanette J. Fisher
About the author:
Jeanette
Fisher teaches six ways to build credit. Free credit ebook "Credit
Tips for Mortgage Financing" http://worryfreecredit.com
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