People are in debt. Living in this world with bad credit can be difficult. It's hard to repair your credit and it makes life difficult to have bad credit when you are making those large purchases.
Credit repair can be done, but not overnight. You must be patient and keep your spending in check. There are a few things that you can do to repair your damaged credit but you must be patient as you follow these steps.
The next time you order your fancy coffee at the drive through, think about this, How much a month do you spend on just coffee? A typical fancy coffee costs about $3-$4. if you have 4 a week, that's $12-$16 a week or $48-$64 a month! The key to credit resolution is budget. Cut back on frivolous purchases and put the money towards paying your debt off. It's hard but necessary.
We need to then know what's in your credit report. There are three credit card companies, Equifax, Experian, and Trans Union. There are many places to go that will get you a report from all three. These reports will list everything you owe to the people who have reported it.
Contacting the creditors is the next step. You need to speak to them to offer a payment plan. They will be willing to work with you because they want the money owed to them. If you offer to pay off the full balance and settle right then and there, usually they will give you a discount and ask you only pay the principal. Any agreements should be mailed to you in writing.
It's time to cut the cord, er cards. It may feel painful at first, but it soon will be liberating. When you get rid of your credit cards, be sure to pay off and close the accounts. Credit history is important for your FICO score. It's a good idea to keep two or three lines of credit opened up so you can keep your established credit history.
It seems simple, but pay the bills on time. This will be the best thing for your credit. The collections and creditors are willing to work with you and understand the situations you may be in. Any payment for the month is good, if you cant afford your full payment, you can still give them a good faith payment of as much as you can afford. This will at least show you attempting to work with the creditors. - 16036
Credit repair can be done, but not overnight. You must be patient and keep your spending in check. There are a few things that you can do to repair your damaged credit but you must be patient as you follow these steps.
The next time you order your fancy coffee at the drive through, think about this, How much a month do you spend on just coffee? A typical fancy coffee costs about $3-$4. if you have 4 a week, that's $12-$16 a week or $48-$64 a month! The key to credit resolution is budget. Cut back on frivolous purchases and put the money towards paying your debt off. It's hard but necessary.
We need to then know what's in your credit report. There are three credit card companies, Equifax, Experian, and Trans Union. There are many places to go that will get you a report from all three. These reports will list everything you owe to the people who have reported it.
Contacting the creditors is the next step. You need to speak to them to offer a payment plan. They will be willing to work with you because they want the money owed to them. If you offer to pay off the full balance and settle right then and there, usually they will give you a discount and ask you only pay the principal. Any agreements should be mailed to you in writing.
It's time to cut the cord, er cards. It may feel painful at first, but it soon will be liberating. When you get rid of your credit cards, be sure to pay off and close the accounts. Credit history is important for your FICO score. It's a good idea to keep two or three lines of credit opened up so you can keep your established credit history.
It seems simple, but pay the bills on time. This will be the best thing for your credit. The collections and creditors are willing to work with you and understand the situations you may be in. Any payment for the month is good, if you cant afford your full payment, you can still give them a good faith payment of as much as you can afford. This will at least show you attempting to work with the creditors. - 16036
