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Buying A Home With Bad Credit - Why A Recent Bankruptcy Will Not Stop You From Getting Approved
Buying a home with bad credit is possible with the help of a subprime lender even if you have a recent bankruptcy or foreclosure. These mortgage lenders specialize in financing home loans for people with poor credit.
Effect Of Bankruptcies And...
Consumer Action: Putting The “Freeze” On Credit Files
In the wake of 40 million MasterCard, Visa, Discover, and American Express accounts recently being breached, consumers and legislators are scrambling for ways to protect their personal and financial information from being hijacked and used...
Do you want to get a new credit card at a great rate?
1)Do your homework. Applying for and getting approved for a credit card is nothing more than legwork. Credit card contracts can sometimes contain onerous terms that might make you sorry that you signed up for the new card that you did. Read the fine...
Student Credit Repair Solutions for Building Credit
There are solutions for students to repair their credit. Believe
it or not but it is possible to get out of a student loan
obligation. First you must determine what type of student loan
you owe. Once you come to this determination you will next...
When You Are Eligible For A Free Credit Report
By Federal law, you are entitled to one free credit report per year directly from a credit-reporting agency only if you certify that:
1. You are unemployed and seeking employment in the next 60 days.
2. You are receiving public...
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What is a Bad Credit History?
A bad credit history can sometimes seem like a curse... whenever you apply for financing or for a loan, it always seems to pop up and cause you problems.
Having a bad credit history can even cause you problems when applying for some jobs or other opportunities! Before you let it get under your skin, though, you should know that it is possible to live with (and even improve) a bad credit history.
Of course, the first step to getting past your credit and getting on with the rest of your life is understanding exactly what your credit history is and what it means.
Understanding your credit history
Fundamentally, a bad credit history is exactly what it sounds like... a report that states that in the past, you've had problems with your credit.
Perhaps it's a result of several late payments in a short period of time, or a debt that you were unable to repay.
Regardless of the reason, your bad credit history is an indication to any potential lenders that there may be a risk in lending money or extending a credit line to you.
It doesn't in any way indicate that you're a bad person… just that you've had problems with money before. And if financial problems are what caused your bad credit history, then working to correct your financial problems is the first step in repairing your credit.
Repairing your credit history
Since money is at the heart of your bad credit history, then money is also the best way to get rid of it. It will take some time and may require some careful budgeting, but it is
possible to turn your bad credit history around on your own.
The first thing that you'll need to do to correct your credit is get a copy of your credit report, which will show you which lenders have made negative reports concerning you.
These reports are what keeps your credit score low, and taking care of them will be a major step toward fixing it.
Contact the lenders and creditors that have made negative reports, offering to arrange some method of repayment. Some creditors will allow you to repay only a portion of what you owe, others require the entire debt plus interest and fees… but all of them will be more than happy to try to work out a plan to get their money back.
While working on clearing old debts, you should also make sure to keep your current accounts up-to-date; the more positive reports you can get in the present the better. As the older debts are repaid, the newer accounts will have more bearing on your credit score.
So long as you keep your current accounts up to date and paid on time, your credit score will slowly but surely start to rise… and your bad credit history will soon become nothing more than an unpleasant memory.
You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:
About The Author
About the Author
John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.
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Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
Credit.com offers a variety of credit related products and services including credit reports and credit scores, credit cards, car loans, home loan and ... |
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Equifax Personal Solutions: Credit Reports, Credit Scores ... |
National consumer credit reporting company that offers credit reports, FICO(R) credit scores and identity theft protection products to consumers and small ... |
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The FTC's web site on Credit |
Credit is much more than a piece of plastic, and the resources on this site can help you become a more savvy consumer. You’ll also find compliance ... |
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Federal Trade Commission - Consumer Credit Center |
Features an assortment of helpful articles related to credit issues. |
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AnnualCreditReport |
Site set up by the big three credit reporting agencies in the United States, to furnish free annual credit reports, as required by federal law. |
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Springboard - Non-Profit Consumer Credit Management |
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myFICO - FICO Credit Scores, Online Credit Reports and Identity ... |
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Experian: Free Credit Report and Credit Score, Credit Check ... |
Credit referencing and consumer targeting for the USA and other countries. |
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National Credit Union Administration - Home Page |
An independent federal agency that supervises and insures 7152 federal credit unions and insures 4240 state-chartered credit unions. |
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Credit - Wikipedia, the free encyclopedia |
Debits and Credits, a type of bookkeeping entry; Credit (creative arts), acknowledging the ideas or ... Retrieved from "http://en.wikipedia.org/wiki/Credit" ... |
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Credit (finance) - Wikipedia, the free encyclopedia |
Any movement of financial capital is normally quite dependent on credit, ... Sometimes if a person has financial instability or difficulty, credit is not ... |
en.wikipedia.org |
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The National Foundation for Credit Counseling |
DebtAdvice.org is a service provided by the Members of the National Foundation for Credit Counseling (NFCC), most of them known as Consumer Credit ... |
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FreeCreditReport.com | Free Credit Report and Credit Score Online ... |
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Compare over 300 credit cards, including 0% offers and balance transfers, and make a credit card application online... |
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Ford Credit - Auto financing for Ford, Lincoln and Mercury cars ... |
Ford Credit provides auto financing to finance a lease or purchase a car or truck through Ford, Lincoln or Mercury dealerships. |
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The Credit Card Prank |
In my lifetime, I have made nearly 15000 credit card transactions. ... Credit card signatures are a useless mechanism designed to make you feel safe, ... |
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Credit magazine, corporate bonds, derivatives, structured credit ... |
Credit magazine provides information on the international credit markets for credit investors, issuers and market professionals. |
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CUNA: The Credit Union National Association |
News and resource directory about credit unions. |
www.cuna.org |
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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, ... |
credit.about.com |
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