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Credit Reports - Errors Can Be Costly
In today's society, we can't function without credit. We need it to pay bills, borrow money, and to buy our homes and cars. A luxury of the current age is that credit is often granted easily and quickly, a result of years of automation and refining...
Different Types of Credit Cards and Features - Part 1
Copyright 2005 Gibble LLC
Just as there are too many credit card companies to count, there seems to be just as many different credit cards, all claiming to offer you the best possible deal. Since no two people are alike, not all programs and...
Prepaid Credit Cards
If you have a history of bad credit and are unable to obtain a
mainstream credit card, then prepaid credit cards may be just
the answer you are looking for.
First of all, although prepaid credit cards are accepted at any
retail outlet where...
Techniques For Building Good Credit
Whether you are just starting out with no credit to your name or
trying to recover from having accumulated some bad debt which
has ruined your credit, there are simple strategies you can
apply to get your credit back on track.
Many young...
What is Credit Scoring?
Have you ever wondered what is credit scoring? Credit scoring is a system creditors use to help determine whether or not to give you credit. How does a creditor decide whether or not to grant you credit? Creditors use credit scoring systems to...
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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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| CUNA: The Credit Union National Association |
| News and resource directory about credit unions. |
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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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